Business Loan Application Example

Published On - October 1, 2020

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Business Loan Application Example

If you should be likely to begin your own personal business that is small or currently very very own one, it really is most likely you will have to raise money for extra cashflow sooner or later. a way that is common of this might be to secure a company loan from a bank or other loan company. To be able to secure that loan, you have to research the thing you need so that you can use and exactly what mistakes that are common avoid.

The company application for the loan instance below will allow you to comprehend and prepare the details you will need when applying likely for a financial loan.

Company Loan Application Example

Brand Brand New Union Branch:_____________________

Existing Union Officer:__________________

COMPANY INFORMATION

  • Business Name_______________________________________
  • Address_____________________________________________
  • Phone ( )______________ Tax I.D.____________
  • Specific Name(s)__________________________________
  • Address_____________________________________________
  • Phone ( )_______Social protection #_______Date of
  • Birth:_____
  • Proprietorship______ Partnership______Sub-Chapter S_______ Corporation_____________ Non-Profit________ Individual_________ LLC_________

Ownership circulation: (List stockholders, lovers, owner names) Note: Attach sheet that is separate additional area needed.

  • Name__________Title________# of Years______%___ SS#_____
  • Name________Title________# of Years_________%___SS#_________
  • Name________Title________# of Years_________%___SS#_________

Nature of Business__________________Year Established_______ Range Employees________

Bank of Account______________Account Number_____________

Credit Relationships: Please offer information on your company credit relationships below:

Original Loan Amount____________Maturity____________
Name of Creditor_____________Purpose of Loan___________
Amount___________Presently Owing________________
Repayment Terms______________Date_______________

LOAN DEMAND

Number of Loan Requested______________ Type of loan_________

  • Years at the moment Location_________[ ] Own[ ] Lease
  • Accountant__________Telephone ( )
  • Insurance payday loans in Utah Coverage Agent____________Telephone ( )
  • Attorney_____________Telephone ( )

FINANCIAL INFORMATION

  • [ ]Line of Credit
  • [ ]Term Loan
  • [ ]Business
  • [ ]Home Equity
  • [ ]Commercial Real Estate

Requested term of loan:___________________

  • Certain Loan Purpose (Check all of that apply)
  • [ ] Other
  • [ ] Refinance Existing Loan or Debts
  • [ ] Finance buy of company
  • [ ] Finance buy of property
  • [ ] Finance Buy Gear
  • [ ] Finance Purchase of stock
  • [ ] Working Capital

Collateral Available* (Check all of that apply)

*Collateral: Loans tend to be guaranteed by security, that is home by which a safety interest is awarded to secure repayment of this loan. The mortgage security can include company assets, shares, bonds, certificates of build up, or individual assets. Give consideration to (1) the worthiness associated with loan security needs to be add up to or more than the quantity of the mortgage, (2) anticipated economic lifetime of security are going to be considered by the financial institution in assessing the collateral offered when it comes to loan, (3) formal security appraisals might be needed, and (4) a pledge of individual assets can be required as extra security for the company loan required.

[ ] Guarantors** (Please list)

**Guarantors: For included borrowers, guarantees of owner(s) is generally required, unless secured by Bank deposits or collateral that is marketable. If personal assets come in joint names, a single proprietorship, and/or partnership, the lender may need all events to pledge security.

COMPANY BACKGROUND INFORMATION

Please offer a quick reputation for your company, future plans, and projections, and explain your products or services and/or services and competition.

PERSONAL COMPANY EXPERIENCE

If you have held it’s place in your overall company for less than 5 years, please describe your business that is previous experience. (Add company back ground, administration experience, and training, or add a resume.)

  • Name__________Social Safety #_________________
  • Address__________________________________ Name___________________Social Security #________________ Address__________________________________ Name___________________Social Safety #________________ Address__________________________________
  • [ ] Personal Assets (As described in private Financial Statement.)
  • [ ] Cash on Deposit at (name of bank) Branch Account #
  • [ ] Real Estate (Please attach property target, appropriate description and a duplicate on most recent goverment tax bill.) Square Feet Acres
  • [ ] Specific Equipment (Please attach hardware list, including serial figures or description of gear, and invoices for brand new gear.)
  • [ ] All Assets (accounts receivable, stock, equipment and equipment)

OFFICIAL OFFICIAL CERTIFICATION

The undersigned certifies that, to your most readily useful of his / her knowledge and belief, all information found in this application for the loan as well as in the accompanying statements and papers holds true, complete, and proper. The undersigned agrees to inform the lender straight away of every product changes in these details. It really is further agreed that, set up loan herein sent applications for is authorized, the undersigned will probably pay or reimburse the lender for the expenses, if any, of studies, mortgage or title exams, appraisals, etc., done by non-Bank workers utilizing the permission of this applicant. The authorizes being undersigned Bank to get hold of any bank and trade creditors it deems necessary without further notice, including, although not restricted to, Dunn & Bradstreet reports or information from TRW Credit information.

  • Business Name (print):
  • Applicant Signature: Date:
  • Applicant Title:
  • Guarantor(s) Signature: Date:
  • Guarantor(s) Signature: Date:

COMPANY APPLICATION FOR THE LOAN CHECKLIST

Please be certain most of the after paperwork has been incorporated into purchase for your business application for the loan become prepared.

  • [ ] Business Application For The Loan
  • [ ] Accountant-Prepared Business Financial Statements (revenue and Loss, Balance Sheet) when it comes to previous three financial years
  • [ ] Business Federal taxation statements for previous three fiscal years
  • [ ] Interim Financial Statements (if available)
  • [ ] Most Federal that is recent Tax for every single principal owner detailed in the 1st area of the business enterprise application for the loan
  • [ ] Personal Financial Record
  • [ ] Organizational Papers (Articles, dba documents, etc.)
  • [ ] OTHER:

FOR WORKPLACE USE ONLY:
Bank Application For The Loan Review Example
Reviewed by:___________________________