Qualifications

WHO MAY APPLY

1. Available to established Theta Chi Fraternity “Corporations” who have been in existent for at least 12 months, and the corporations have a legitimate and reasonable contractual responsibility for the repair and maintenance of their homes. The corporations must be in good standing with the state in which they are incorporated; and, the corporations exist for the benefit of an active Theta Chi Fraternity Chapter.
2. Borrower must have an organized governing board committed to the perpetual and effective management of the corporation and agrees to follow Theta Chi Fraternity’s suggested property management practices, and Theta Chi Fraternity’s rules and regulations.
3. Borrower must properly complete and submit the standard application for the loan; clearly describing the need and cost of the desired solution. And, it shall require financial information about the Borrower and the chapter which shall display an ability to afford the loan with reasonable projections of income and expenses, including adequate allowances for contingencies and reserves.

INELIGIBILITY

1. Applications will not be approved if the applicant is in arrears on any prior loan granted.
2. Loan requests to pay off existing loans, financing charges, or lease agreements will not be considered. 
3. Funding to replace or repair the property due to neglect or mistreatment may not be eligible with loan proceeds from this program.