Denied RiggoSoft - Grant Application

[RiggoSoft]

Firm Name
Oakridge Community Bank

Which grant pool are you applying for?
Innovation, Startup, Research and Development (R&D)

How do you plan on using your grant funding?
I plan to use these funds to purchase and setup an office for my bank in Oakridge and rent and setup separate locations around Redmont for bank clients to access their funds. The rest of the funds would be used for loaning money to individuals or entities for personal loans, commercial loans, and mortgages. Additionally some money will be used to pay staff and hire new staff members.

Ideal Grant Amount 200,000

If awarded, I intend to use the grant money allocated to me for its intended purpose on which it was approved for, and provide a breakdown in my application thread of how the funding was used.
Yes

 

[Talion77]

Please provide a breakdown of how much money you want to use for what purpose.

 

[RiggoSoft]

I would want $200,000

There is a property in Oakridge for sale for $25,000 so $25,000 will be allocated to acquiring the property. We then will set aside $25,000 to renovate the property.

I would then set aside $50,000 for safe investments listed on The Exchange that would provide safe returns in case the bank would not be able to provide loans and make a profit.

Finally, $100,000 would be put away to provide loans and create income for the Bank.

 

[Talion77]

Denied

Unfortunately, the Department of Commerce has chosen to deny your Grant application, as it does not fit under the DoC Grant Policy.