Salinas United Business Association (SUBA)
600 E. Market Street, Ste. 205
Salinas, CA 93905
November 7, 2025
Subject: Loan Agreement Between Alejandro Chavez and the Salinas United Business Association (SUBA)
This letter serves as formal documentation of a personal loan made by Alejandro Chavez, Executive Director of the Salinas United Business Association (SUBA), to the organization.
On August 14, 2025 Alejandro Chavez provided a loan in the amount of Seven Thousand Dollars ($7,000.00) to SUBA for operational and programmatic support during the current fiscal year.
The loan was extended in good faith to assist with organizational expenses during the transition and wind-down period.
It is understood by both parties that if SUBA is unable to repay the full loan amount by December 31, 2025, the outstanding balance will be forgiven in full by Alejandro Chavez, and no further obligation for repayment will remain.
This agreement is made voluntarily and without interest or penalty. Both parties acknowledge the terms herein as fair and mutually acceptable.
Sincerely,
Alejandro Chavez
Executive Director
Salinas United Business Association (SUBA)