Name Title # of Years % SS# Name Title # of Years % SS# Name Title # of Years % SS#

Transcription

1 BUSINESS LOAN APPLICATION New Relationship Existing Relationship Branch: Drop-down options Officer: BUSINESS INFORMATION Business Name Telephone ( ) Tax I.D. Individual Name(s) Telephone ( ) Social Security # Date of Birth: Sole Proprietorship Partnership Sub-Chapter S Corporation Non-Profit LLC Ownership Distribution: Note: Attach separate sheet if required. (List stockholders, partners, owner names) Nature of Business Year Established Number of Employees Years at Present Location Own Lease Accountant Telephone ( ) Insurance Agent Telephone ( ) Attorney Telephone ( ) FINANCIAL INFORMATION Bank of Account Account Number Credit Relationships: Please provide details of your business credit relationships below: Original Loan Amount Maturity Name of Creditor Purpose of Loan Amount Presently Owing Repayment Terms Date Page 1 of 5

2 LOAN REQUEST Amount of Loan Requested Type of loan $ Line of Credit Term Loan Requested Term of Loan Commercial Real Estate Is this a residential property? If yes, was appraisal disclosure provided? Specific Loan Purpose (Check all that apply) Working Capital Finance Purchase of Inventory Finance Purchase of Equipment Finance Purchase of Real Estate Refinance Existing Loan or Debts Other (State type of loan required and loan purpose) Collateral Available* (Check all that apply) All Assets (accounts receivable, inventory, machinery and equipment) Specific Equipment (Please attach equipment list, including serial numbers/descriptions/invoices.) Real Estate (Please attach property address, legal description and a copy of most recent tax bill.) Square Feet Acres Cash on Deposit at Branch Account # Personal Assets (As described in Personal Financial Statement.) Guarantors** (Please list) ** Guarantors: The personal guarantee of the owner is required for any loan to the business. Page 2 of 5

3 BUSINESS BACKGROUND INFORMATION Please provide a brief history of your business, future plans and projections, and describe your products and/or services and competition. PERSONAL BUSINESS EXPERIENCE If you have been in your present business for less than five years, please describe your previous business experience. (Include business background, management experience, and training, or include a resume.) MISCELLANEOUS INFORMATION Are tax liabilities current? Yes No Settled through Is the business an endorser, guarantor, or co-maker for any obligation not listed in the financial statements? Yes No If yes, what is the contingent liability? Has the business or principal owner ever declared bankruptcy? Yes No If yes, provide details on a separate sheet. Is the business a defendant in any lawsuit? Yes No If yes, provide details on a separate sheet. Are any of the business assets encumbered by liens or attachments of any type? Yes No Does the business have a pension fund? Yes No Profit-sharing plan? Yes No If so, does the plan have any unfunded pension liabilities? Yes No Amount $ Page 3 of 5

4 CERTIFICATION The undersigned herby instructs, consents, and authorizes the Credit Union and/or its agent(s), including, but not limited to MBS LLC and CU BUS LN to obtain a credit report and other information relating to their credit status in the following circumstances: (a) relating to the opening of an account or upon application for loan or other product or service offered by Credit Union by a commercial entity of which the undersigned is a principal, member, guarantor or other party; (b) therefore, periodically according to the Credit Union s credit review and audit procedures, and (c) relating to Credit Union s review or collection of a loan, account, or other Credit Union product or service made or extended to a commercial entity of which the undersigned is a principal, member, guarantor or other party. The undersigned certifies that, to the best of his or her knowledge and belief, all information contained in this loan application and in the accompanying statements and documents is true, complete, and correct. The undersigned agrees to notify the Credit Union immediately of any material changes in this information. The undersigned understands that the Credit Union will retain this application. The undersigned hereby authorizes Credit Union to verify at any time any information submitted to Credit Union by or on behalf of the undersigned, obtain further information concerning the credit standing of the undersigned, including without limitation, credit and the entity related to the Credit Union. The undersigned authorizes the Credit Union to consider this application and any other documents or information submitted with this application as a continuing statement of the financial condition until replaced by new financial information or until the undersigned specifically notifies the Credit Union in writing of any changes in such financial condition. It is further agreed that, whether or not the loan herein applied for is approved, the undersigned will pay or reimburse the bank for the costs, if any, of surveys, title or mortgage examinations, appraisals, etc., performed by non-credit Union personnel with the consent of the applicant. The undersigned authorizes the Credit Union to contact any bank and trade creditors it deems necessary without further notice. Business Name (print): Applicant Signature: Applicant Title: Guarantor(s) Signature: Guarantor(s) Signature: Page 4 of 5

5 BUSINESS LOAN APPLICATION CHECKLIST Please be sure all of the following documentation has been included in order for your business loan application to be processed. Business Loan Application Current Personal Financial Statement for each of the principal owners listed in the first section of the Business Loan Application. Three (3) most recent Federal Tax returns, signed and dated, for each of the principal owners listed in the first section of the Business Loan Application. Completed and executed IRS Form 4506 for each for each of the principal owners listed in the first section of the Business Loan Application. Three (3) most recent Federal Tax returns for the Business, if filed separately. Three (3) most recent years of financial statements for the business, preferably prepared by an accountant. Interim Financial statements for the business, if available. Organizational Papers (Articles of Organization, Certificate of Incorporation, d/b/a papers) Page 5 of 5