The following chart summarizes the coaching requirements for the Grass 1.0 and Grass 2.0 programs.
| Grass 1.0
Equity Grant Recipients Current Equity Loan Recipients |
Grass 2.0
Delinquent Equity Loan Recipients |
|
| Required Participation | All Equity Loan/Grant recipients must meet the requirements of the Grass 1.0 program in order to be in compliance with their Equity Loan/Grant Agreement. | Delinquent Equity Loan Recipients must meet the requirements of the Grass 1.0, 2.0, and the Loan Modification Program to be in compliance with their Equity Loan Agreement. |
| Documentation& Timing | Documents must be submitted before receiving a loan/grant and every six-months thereafter | Must complete Grass 1.0 requirements; Grass 2.0 documents must be submitted before receiving a grant & monthly thereafter |
| Prerequisite | Must be current for three months on Equity Loan payments | Must participate in the Loan Modification Program |
| Historical Financial & Review | 1. Historical financial statements, budget and business plan
2. Evidence that Borrower’s taxes have been paid (BOE, state and city taxes, etc.) 3. Additional amounts invested into the business 4. Additional loans obtained by the business |
1. Same as Grass 1.0
2. Monthly income statement and cash flow statement 3. Submission of receipts to show how 100% of the Equity Loan was spent 4. Submission of monthly Bank Statements 5. Schedule of loan balances outstanding and repayment amount |
| Customer and Market Review | 5. Review and analysis of previous customers and buyer including demographic data and business characteristic
6. Review historical buying patterns and monthly seasonality 7. Review of competitive landscape 8. Review of strategic partnerships |
6. Same as Grass 1.0 except that the review is conducted on a monthly basis |
| Operations Review | 9. Review change headcount
10. Review change in business location 11. Review change in team/business partner/incubator 12. Review implementation and use of Track and Trace 13. Review regulatory and tax compliance |
7. Same as Grass 1.0 except that the review is conducted on a monthly basis
8. Work with Elevate Impact Oakland staff to update business plan including detailed discussion on how to improve business operations given what has actually transpired since receiving the loan |
| Budgeting | 14. Review six-month budget to actual comparison using financial projections and budget provided in the loan agreement | 9. Same as Grass 1.0 except that the review is conducted on a monthly basis
10. Create a monthly cash flow projection including: a) Expected cash receipts from revenue, loans, grants and investment b) Expected expenditures for bills per invoices and bank statements |
| Action Plan | 15. Each year, develop an action plan including goals and milestones to ensure the highest probability of success for the company, to be reviewed every six months | 11. Same as Grass 1.0 except review is conducted on a Monthly basis |
| Required Meetings/Calls | 16. A call or meeting with an Elevate Impact Oakland Staff will be held every six months to review the materials summarized above in the GRASS 1.0 program. | 17. A call or meeting with an Elevate Impact Oakland Staff will be held monthly until loan delinquency has been cured to review the materials summarized above in the GRASS 2.0 program. |