BUSINESS LOAN APPLICATION

Transcription

1 General Information 20 East Bayard Street, PO Box 111 Seneca Falls, NY BUSINESS LOAN APPLICATION Business Taxpayer ID #: Business Address: Telephone #: Cell Phone #: contact: Fax #: Nature of Business: ~Personal Financial Statement~ Please complete a separate sheet for each owner/principal/guarantor owning 20% or more of the business. Business Structure DBA / Sole Proprietorship S Corporation Not for Profit General partnership C Corporation Limited Liability Company Other: Business Owner(s), Partner(s), Shareholder(s), Principal(s), Member(s) Please provide the following information for each Owner, Partner, Shareholder, Principal or Member as applicable: Page 1 of 6

2 Business Owner(s), Partner(s), Shareholder(s), Principal(s), Member(s) (continued from page 1) (List other owners, partners, shareholders, principals or members on separate sheet if necessary) Loan Request Amount: $ Preferred term: months Type of loan: Mortgage secured by business property Term loan secured by business equipment or other collateral Line of credit secured Other: Purpose of loan: Page 2 of 6

3 Collateral Please complete the following table with respect to any collateral being offered to support this loan: Description Location Value $ of Liens Against Lien Holder Other Loans Owed Please complete the following table with respect to any other loans owed by the business or related entities (include all loans for which the business is an endorser, guarantor or co-maker): Amount Owed Lender Collateral Provided Monthly Payment Are all loans owed by the business current as of the date of this application? Yes No If no, please provide the amount past due, payment date due and reason for delinquency below: Other Matters Is the business a party to any claim or lawsuit? Yes No Have you ever owned or operated a business which declared bankruptcy? Yes No Does your business owe any income or property taxes currently or for prior years? Yes No Page 3 of 6

4 Information Requested Business Loan Application signed and dated. Last 3 fiscal year-end business financial statements and last 3 years business federal tax returns. (If fiscal year-end is more than six months old, please provide a recent interim statement). If your company is new, please provide an opening balance sheet and projections for at least 3 years (including balance sheet, income statement and cash flow projections). Aging of Accounts Receivable; Aging of Accounts Payable; recent Inventory list. Signed and dated current personal financial statements and last 3 years personal tax returns of each owner, principal, guarantor. Brief descriptions of educational, technical & business background for all people listed in business profile section or attach resumes. For Rental Real Estate: please provide rent roll, copies of leases, last 3 years income & expense for the property. Purchase Invoice (term loan): Purchase Agreement (commercial mortgage/business acquisition) For non-profit companies Listing of Board of Directors and copy of annual budget/report. For Construction Detailed construction budget of hard and soft costs; stamped copies of plans and specifications; copies of construction contract(s); general contractors agreement and architects agreement; copy of closing statement or purchase offer for land; documentation evidencing cash sources needed to fulfill equity requirements. Please provide the following items (where applicable): DBA / Proprietorship - DBA Certificate Not for Profit - Nonprofit Articles of Incorporation Limited / General Partnership - Written Partnership Agreement - Partnership Certificate S Corporation/Corporation - Articles of Incorporation - By laws of Incorporation - Statement of Good Standing/continued existence - Borrowing Resolution Limited Liability Corp. - Articles of Organization - Operating Agreement The applicant, co-applicant, all partners, officers and members (collectively referred to as you ) named in this application must sign below. By executing this document, you authorize any person including trade creditors, financial institutions and credit reporting agencies to furnish to us financial information. Such information shall remain our property regardless of whether credit is extended. You declare that all information provided in the application is a true representation of the facts and certify that this information was provided to induce us to extend credit to the business / applicant(s). You agree that we may obtain or share credit information regarding the business, its owners, principals, or guarantors, in considering this request or in extending credit because of the request. You also confirm that proceeds of this loan request will be used for business purposes and will not be used for personal, family or household use. Page 4 of 6

5 Signatures Please identify each person who must act for the Company as an owner and/or business principal to obligate Company under this application. Important Disclosure The bank may request a consumer credit report in connection with this application or in connection with extensions, renewals or updates of any credit granted as a result of this application. Upon your request, you will be informed whether a consumer credit report was requested and if so, the name and address of the agency that furnished the report. Generations Bank reserves the right to verify the financial information stated in this application by obtaining Federal Income Tax Returns (personal and/or corporate) accountant prepared financial statements, bank/investment account statements and other financial information. Equal Credit Opportunity Notice Were your Gross Revenues $1,000, or less in your previous fiscal year? Yes No If you answered yes and the Creditor denies your application for credit you have the right to a written statement of specific reasons for the denial. To obtain the statement please contact: Commercial Loan Department 20 East Bayard Street Seneca Falls, NY Within 60 days from the date you are notified of Creditor s decision. The Creditor will send you a written statement of reason for denial within 30 days of receiving your request for statement. The notice below describes additional protections extended to you. Page 5 of 6

6 Notice: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (providing the applicant has the capacity to enter into a binding agreement): because all or a part of the applicant s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act, the federal agency that administers compliance with the law concerning this credit is: Office of the Comptroller of the Currency, Customer Assistance Group, 1301 McKinney Street, Suite 3450, Houston, TX Bank Use Only Received By: Date: SIC #: Disposition: Insufficient information for Credit Decision. Requested additional information on Approved Date Notified Denied Date Notified Page 6 of 6