The Vendor is required to provide credit services and loan administration services.
- Provide a Line of Credit
• Establish a revolving line of credit in the amount of $10,000,000, with an option to adjust based on need, financial strength, and consent from council governing board.
• Offer a competitive interest rate, either fixed or variable with clearly defined terms.
• Structure a flexible repayment plan that aligns with council cash flow cycles.
- Loan administration and customer service
• Assign a dedicated representative to assist with loan administration.
• Provide customer support for inquiries, transactions and reporting.
• Ensure transparency in billing, interest accrual, and repayment schedules.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: April 30, 2025