BUSINESS LOAN APPLICATION

Transcription

1 BUSINESS LOAN APPLICATION Check out the back cover for loan product descriptions Loans Financing Acceptance Criteria Acceptance on Loan Financing is based on the following: Local job creation or maintenance; Location of the business in the Boundary area; Reasonable personal financial investment into the business being established; Ability to repay; and Adequate security for the business venture. Application Process Consultation with Loans Manager. Complete Loan Application, Submit with Completed Business Plan or Micro Loan Business Plan details. (Projected cash flows sheets and other supporting documentation may be required for larger loans.) Loans Manager will review application and supporting documentation and assist with loan submission to appropriate committee. For speedier processing please remember... To fully complete each page of the Loan Application. Provide current identification. To sign and witness all statements within application as requested (applicant, co-applicant, & spouse). Existing businesses to include: o Financial Statements for the last three (3) years of operation. o Aged Accounts Receivable and Accounts Payable

2 Loans Application General Information Which CFB loan product are you applying for? Why have you chosen Community Futures Boundary over a traditional financial institution? Please be specific NewBiz Bizbuyout Opportunity NextGen TechBlazer GlobalReach FranchiseRoute Bizable Funds for new business start-up. Financing to buy an established business. Access to capital for change. Financing for young entrepreneurs. Financing for investments in technology. Access to funds to reach global markets. Funding to franchise your business Funding for entrepreneurs with disabilities. Are you presently employed outside the business? Yes No PT FT Casual How many jobs do you expect to create? Full Time: Part Time: Casual/Seasonal: How many jobs do you expect to maintain? Full Time: Part Time: Casual/Seasonal: Applicant Personal Information: First/Last Name: Business Partner(s) Name(s): (If this business is to be a partnership, please provide the personal details as below for the individuals.) Home Phone #: Cell or Toll Free # Fax # address: Physical Address: City: Province: Mailing Address: City: Province: Postal Code: Applicant s Birth Date: (day-month-year) Applicant s SIN #: Identification : ( identify type) 2

3 Applicant General Information: (If you answer YES to any of these questions, please provide details). Have you ever had an asset repossessed? Yes No Are you involved in any claims or lawsuits? Yes No Have you ever declared bankruptcy? Yes No Do you owe any back taxes or any other debt to the Federal Government? Yes No Marital Status: Married Single Separated Divorced Widow Common Law Age Group: Less than Are you the primary wage earner? Yes No Are you of aboriginal status? Yes No Are you a person with disabilities? Yes No Are you of visible minority status? Yes No Number of children/dependents: Their Ages: Employment History: Attach a resume with full details. References: Please supply three (3) PERSONAL references. Include both family and non-family references. 1. Name: Relationship: Address: City: Province Postal Code: Phone: 2. Name: Relationship: Address: City: Province Postal Code: Phone: 3. Name: Relationship: Address: City: Province Postal Code: Phone: N.B. Co-applicant/Guarantor must provide Personal and Applicant General Information above. Kindly attach a sheet to this application for each individual who is a Co-applicant/Guarantor. 3

4 Business Information: Business Name: Business Structure: Sole Proprietorship Partnership Incorporation (Please circle appropriate structure) Phone#: Cell Phone or Toll Free#: Fax#: Address: Physical Address: Mailing Address: City: Province: Business References: Lawyer/Solicitor (if Known): Accountant/Bookkeeper: Bank: Contact: Phone#: Brief Outline of Business Proposal/History or enclose Micro Loan Business Plan Details. 4

5 Financing Requirements (Amount of funds needed to be borrowed). Equipment Purchases (Machinery, tools, vehicles ): Amount Total cost of Equipment Purchases: 1 Inventory Purchases (Items to be purchased for resale ): Total Cost of Inventory Purchases: 2 Operating Capital (Rent, Deposits, Overhead ): Total Operating Capital: 3 Other Purchases (Please describe ): Total Other Purchases: 4 Total Amount Requirements ( ): A Less: Total Cash Contributions B Total Financing Required, if any (A B): Sources of Financing: Bank, Specify Private, Specify Other, Specify Total CFDC Financing Requested: Request Repayment Terms: What Type of security is available? 5

6 Personal Financial Statement This information must be submitted for EACH applicant. Personal Net worth Statement Assets List and Describe all assets Cash Bank Cash Other Life Insurance: cash value only RSP s Investments Accounts & Loans Receivable Automobiles: Make/Yr. Make/Yr. Real Estate: Business Interests: Other Assets: Liabilities List credit cards and other liabilities including alimony and child support. Balance Owing Bank Loan(s) Mortgages on Real Estate Credit Cards Other Obligations (B) Total Liabilities (C) Net Worth (A minus B) (A) Total Assets: Sundry Obligations: Are you personally supporting continent obligations not listed above (i.e., co-sign, guarantor/endorser)? Yes No If yes, please indicate liability and provide details on amount, to whom and nature of obligations below: Monthly Income and Expenses Your gross monthly income: Monthly salary or wages Commission/Bonuses Dividends/Interest Rental income Other income Sub-Total Spouse s Gross Income: Monthly salary or wages Other Income Total Monthly Income Your monthly expenses: Mortgage/Rent Real estate taxes Federal & Provincial Income Taxes Insurance premiums Credit Cards Consumer loan payments Alimony/Child Support Payments Food Clothing Transportation Utilities Entertainment Total Monthly Expenses 6

7 RELEASE, INDEMNITY, WAIVER AND CONSENT RELEASE: In consideration of Community Futures Boundary directly, or through its contractors or agents engaged on that behalf, providing to the undersigned financial assistance and/or counselling or business advisory services in connection with the organization and operation of the business of the Undersigned, the Undersigned, on their own behalf or by its duly authorized signatories, does hereby release and absolutely discharge Community Futures Boundary and each of its officers, employees, and its contractors and agents from any and all claims howsoever arising in tort, contract and otherwise, in respect of any and all loss, damage, cost or expense arising out of any activities coordinated or services provided by Community Futures Boundary, its officers, employees, contractors and agents, and whether or not any such loss, damage, cost or expense arises in whole or in part from the negligence or neglect of Community Futures Boundary, its officers, agents or employees, or contractors or any one or more of them acting together or alone. INDEMNITY: And the Undersigned hereby covenants and agrees to indemnify and save harmless Community Futures Boundary and each of its officers, agents and employees and contractors from and against any and all claims, actions, causes of action (including with limitation any claim, action or cause of action with respect to the operation or failure of the business of the Undersigned), demands, costs, charges or expenses in respect of any and all loss or damage suffered by or happening to the Undersigned arising out of or in any way attributable to the activities coordinated or services provided by Community Futures Boundary, its officers, agents, employees, or contractors or otherwise, howsoever. WAIVER: The Undersigned hereby waives any and all rights, which it now has or may in the future have to claim against Community Futures Boundary, its officers, agents or employees or contractors arising out of or in connection with any of the activities or services provided by Community Futures Boundary, its officers, employees, agents or contractors. 2. CONSENT: The Undersigned acknowledge that in connection with their participation in the Business Development Loans Program, Community Futures Boundary may provide names of Undersigned and their business as participants to those Provincial and Federal Government Agencies who provide funding for the Program, and the Undersigned do specifically consent to that sharing of such information. This Release and Indemnity shall be binding upon the Undersigned, and their respective successors and assigns. Signature of Business Principal or Authorised Signatory Print Name: Signature of Co- Principal or Additional Co-Signatory: Print Name: Date: 7

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