Embed Size (px)
Citation preview
Prospective Borrower:
NavyArmy would like to thank you for your interest in our business loan program. Our goal is to
provide superior service to you while making the application process as easy and smooth as possible.
In order for us to achieve this, there are vital pieces of information we request to make an accurate
and swift decision regarding your loan request.
We have included a Business Loan Application or a Uniform Residential Loan Application and a
Personal Financial Statement to be completed by all guarantors of this request. Also, we would like
to receive the last three years of tax returns and financial statements from the business (if applicable)
as well as all guarantors of the proposed note. The checklist below should help ensure all
information has been collected.
o Business Loan Application or Uniform Residential Loan Application
o Personal Financial Statement (all guarantors)
o Last three years of tax returns for business (if applicable)
o Last three years of tax returns for guarantor(s)
o Year to date balance sheet and profit/loss statement
o Copies of current leases (if applicable)
o Debt Schedule (if applicable)
We require a minimum of 20%- 30% down for business purpose loans; however terms are based on
the type of collateral offered. Amortization and loan terms will be based on the condition and
marketability of the collateral as well as the dollar amount requested. Interest rates will be
determined based on the combination of the borrower’s ability to repay the proposed debt, the
condition and marketability of the collateral, and the amortization and term of the note. Additional
information may be requested on a case by case basis. Please feel free to contact us with any
questions or concerns.
Please see back for a Disclosure and Notice.
Sincerely,
Member Business Services Department
Maria R Karaca NMLS# 689771
VP Member Business Services
361-985-7300 X 1401
FAX: 361-986-8055
Kate Montagna NMLS# 248247
Member Business Loan Officer
361-985-7300 X 1161
FAX: 361-986-8055
Disclosure: NavyArmy will give each request careful consideration and may not be able to extend credit
to you. We will communicate the reasons for the denial orally. You have the right to receive the reasons
confirmed in writing within 30 days of the oral communication upon request. Please contact us at the
address or number below to submit this request.
Navy Army Community Credit Union
Member Business Loan Office
361-986-4500
5725 Spohn Dr.
Corpus Christi, TX 78414
Equal Credit Opportunity Act 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 (provided the applicant has the capacity to enter into a binding contract); because all or
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 this law concerning this creditor is Federal Trade Commission Equal Credit
Opportunity Washington, DC 20580.
1 of 3
Member Business Loan Application Of ficer Name: Of ficer #: Phone #:
Credit Union #: Credit Union: Approv al Authority Level: Individual MBL Committee CU Board
To be completed by Borrower(s)
Purpose The following information is needed to better understand the lending needs for your business.
Select all General or Capital Expenditures Business Improvements Purchase an Existing Business Purchase Price: that apply. Startup Ref inance or Debt Consolidation Purchase of Real Estate Down Pay ment:
Working Capital (specify use): Purchase Vehicle (please describe):
Other: Purchase Equipment (please describe):
Modif ication to an existing Credit Union loan (excluding interest rate & fee changes) Existing loan #: Change Requested (please describe):
Product Tell us which loan product(s) w ill help you meet your business needs.
New Increase Renewal
Product Requested Interest
Rate Term
(in months) Amortization (in months) Amount Requested
Monthly Pay ment Amount
Commercial Real Estate
Construction & Development
Line of Credit
Equipment Loan
Other:
Business Information (Applicant/Borrower) The following information is required to process your loan request(s). Please complete all sections.
Business Legal Name:
Doing Business as (DBA) Name, if any: Primary Contact:
Tax I.D. #: Telephone #: Email Address:
Street Address (no P.O. Boxes): Own Rent City : State: Zip Code:
Mailing Address (if dif ferent): City : State: Zip Code:
Corporation Trust Limited Liability Company (LLC) Non-Prof it Prof essional Association
Sole Proprietorship Limited Partnership General Partnership LLP Other:
Does Business and/or Affiliates Have Any Existing Government Guaranteed Debt (SBA, USDA B&I,etc …)? If Yes, please indicate total amount outstanding:
Agency:
Date Business Established: State of Incorporation: Number of Employees After Financing
Explain Nature of Business:
Real Estate Manuf acturing Wholesale Retail Serv ice Agricultural Construction Other
List any Affiliated Companies:
Business Ownership/Key Personnel (attach separate sheet if required)
Name: Title: # of y ears: % ownership: SSN #: Authorized Signor:
Name: Title: # of y ears: % ownership: SSN #: Authorized Signor:
Name: Title: # of y ears: % ownership: SSN #: Authorized Signor:
Name: Title: # of y ears: % ownership: SSN #: Authorized Signor:
Name: Title: # of y ears: % ownership: SSN #: Authorized Signor:
Name: Title: # of y ears: % ownership: SSN #: Authorized Signor:
2 of 3
Collateral to Secure your Small Business Loan The following information will help us better understand the assets being pledged to secure your business loan request(s).
CHECK ONLY the following collateral that is being offered to secure your Small Business loan request(s). Current Value, Lien(s), description & owner name(s) are required f or all pledged collateral.
Collateral Current Value Current Lien(s) (Amount Outstanding/To Whom Payable)
Describe Collate ra l (If real estate also prov ide address) Owner Name(s)
CD Sav ings Marketable Securities Equipment New Used
Vehicle New Used
Accounts Receivable Inv entory Owner Occupied Real Estate Residential Commercial
Inv estment Real Estate Residential Commercial Mixed Use Raw Land Other
Business Obligations/Deposit Relationships The following information is required to process your application & will help us get a complete v iew of your current banking relationships.
Include all business loans & business deposit relationships (including existing accounts with Credit Union). Do not include rent on office space or other facilities. (Attach additional sheets if necessary.) * Please indicate in the first column below which obligations are being refinanced with this application. Business Obligations Only Business Deposit Relationships * Creditor Loan Type Current Balance Monthly Payment Collateral
Deposit Type Bank Name Current Balance
CHK SAV
CHK SAV
CHK SAV
CHK SAV
Business Financials The following information provides us details about the financial background of your business.
Business Financials (Applicant/Borrower) Income as reported on most recent tax return f iscal year ending: Balance Sheet as of:
Business Cash Accounts Payable GROSS SALES/REVENUE (+)
Accounts Receivable Notes Payable Cost of Goods Sold (-)
Inv entory Credit Card Debt Owner’s Salary (-)
Machinery /Equipment Automotiv e Loans Interest Expense (-)
Business Automobiles Mortgages Depreciation (-)
Commercial Real Estate Other Remaining Expense (-)
Other BUSINESS NET INCOME / (NET LOSS) (=)
Declarations The following questions are required to process your Small Business loan request.
Please provide details on an additional page to any question with a YES response.
Is the applicant party to any lawsuit or subject to outstanding judgments?
Is the applicant party to taxes or credit obligations past due?
If y es, to Whom Payable: Amount:
Has the applicant ever filed personal bankruptcy or served as an officer in a company that declared bankruptcy? Is the applicant presently under indictment or probation or parole, or ever been charged or convicted for any criminal offense other than a minor motor vehicle v iolation? Is the applicant a political party, a campaign, a candidate, a public official or foreign political official or an immediate family member of such an official, or a business entity formed by or for the benefit of any public official?
If y es, name, relationship, & position of official:
Is the applicant or an owner an employee of Credit Union or one of its affiliates?
If y es, name of employee: Any of gross annual revenue of business is derived from Gambling?
If y es, what type of Gambling does the applicant participate in? Amount:
3 of 3
Credit Application Checklist CU Employee must initial next to each line item to v alidate that they hav e supplied the required documentation. If
any items are omitted reasons why must be included.Employee
Initials Reasons for Omission
Member Business Loan Application – Fully Completed signed & dated. Attached sheet providing details to Declaration questions answered YES on page 2.
Copy of Purchase & Sales Agreement/Bill of Sale, if applicable.
For inv estment real estate transactions, a schedule of all property owned showing y ear purchased, purchase price, outstanding loans & pay ments, & gross rents & expenses.
For all applicants except non-prof its a Personal Financial Statement must be completed by all owners.
Employee Initials Required Financial Documentation Score Limited Full Reasons for Omission
One (1) y ear current business federal tax return (complete with all schedules) or Accountant prepared Financial Statement. X
One (1) y ear personal federal tax return - Complete with all schedules for each owner/guarantor. X
Interim YTD business financial statement (balance sheet & income statement) if the application date is more than (six) 6 months beyond f iscal year end.
X X
Two (2) y ear current business federal tax return (complete with all schedules) or Accountant prepared Financial Statement. X
Accounts Receivable aging report if loan is for working capital purposes or secured by accounts receivable. X X
Two (2) y ear personal federal tax return - Complete with all schedules for each owner/guarantor.
Three (3) y ear current business federal tax return (complete with all schedules) or Accountant prepared Financial Statement. X
Three (3) y ear personal federal tax return - Complete with all schedules f or each owner/guarantor. X
HMDA (Only complete section below if the loan secured by and made for the purpose of purchasing/refinancing a dwelling*)
The following information is requested by the federal government for certain types of loans related to a dwelling in order to monitor the lender's compliance with equal credit opportunity, fair housing, and home mortgage disclosures laws. You are not required to furnish this information, but are encouraged to do so. You may select one or more designations for "Race." The law provides that a lender may not discriminate on the basis of this information, or on whether you choose to furnish it. However, if you choose not to furnish the information and you have made this application in person, under federal regulations the lender is required to note ethnicity, race, and sex on the basis of visual observation or surname. If you do not wish to furnish this information, please check below. Use additional page if necessary.
Owner Name
I do not wish to furnish this information
Ethnicity Race SexHispanic or Latino
Not Hispanic or Latino
American Indian,Alaska Native Asian
Black or African American
Native Hawaiian or Other Pacific Islander White Female Male
* Dwelling means any residential structure regardless of the number of acres; number of units (4-plex, 8-plex, etc.); whether or not it is a primary dwelling, secondary home, or rental property; or the borrower entity (consumer, business, etc.).The term dwelling includes an individual, condominium unit, cooperative unit, mobile home, manufactured home or an apartment building. The term does not include transitory residences, such as, hotels, motels, dormitories, etc.
Right to a Copy of Appraisal We may order an appraisal to determine the property’s value and charge you for this appraisal. In the event the property is a 1 to 4 family residential property, we will promptly give you a copy of any such appraisal, even if your loan does not close.
Representation The undersigned certifies that I intend to apply for Credit in the manner indicated in this application and certify that everything stated in this application and on any attachment is correct. The Lender may keep this application whether or not it is approved. I certify that the credit being applied for will be used for business purposes. My signature also certifies that the information on this application and all supporting documents is true, that my intent is to apply for business purpose credit in which the use of the proceeds will not be used to secure a dwelling or for home improvements, and that I am aware that this application is not a commitment to lend. Applicant may be required to submit additional information to process this request for credit. My signature authorizes and requests Lender to share the information provided on this application, together with the results of this investigation of the credit and financial condition of the company and each applicant, with the U.S. Small Business Administration (“SBA”) and/or Business Alliance Financial Services, LLC (“CUSO”) in order to allow Lender and CUSO to offer the credit product best suited to the company and each of the owner’s/guarantor’s financing needs.
Name of Business (please print)
Name of Authorized Signer (please print) Authorized Signature
X Date:
To Be Completed By Credit Union Employee (use addit io na l page if necessary) Owner/Guarantor:
Form of ID: ID Number: Expiration Date:
Initials of Credit Union Employee Verifying ID:
Confidential Personal Financial Statement
Marital Status: Married Unmarried Separated
Will your Spouse be jointly liable for the credit requested?
Yes No
Confidential Financial Statement as of ________________/_________/20_______
No. of Dependents:
To This Credit Union
Total Cash Sources
Conting. Liab. Payable
Notes Payable
Other Loans Payable
Other R/E Payments
Other
Tax Refund
Other
Total Cash Uses
Net Cash Flow
Subtotal
Mortgage-Homestead
Sale of Assets
Non-Recurring Commissions
Subtotal
This Year
20____
Last Year
20_____Uses of Cash
This Year
20_____
Last Year
20_______Sources of Cash
Commissions, Bonuses
Salary & Wages Personal Expenses
Income Taxes
Property Taxes
Business Expenses
Other:
Other Business Income
Oil & Gas Revenue
Rental Income
Interest & Dividends
Deferred Comp & Retirement (Schedule 5)
Other Business Interests (Schedule 8)
Net Worth (Assets Less Liabilities)
Oil & Gas Related Debt
Other Liabilities (Schedule 9)
Total Liabilities
Estimated Credit Card Balance
Mortgages
Payable
(Schedule 7)
Homestead
Partially Owned R/E
Other Wholly-Owned R/E
Other Taxes
Income Taxes
Other Notes Payable
Personal Property & Autos
Other Assets (Schedule 9)
Total Assets
Notes Receivable (Schedule 3)
Net Cash Value Life Insurance & Annuities (Schedule 4)
Real Estate
(Schedule 7)
Homestead
Other Wholly-Owned R/E
Partially Owned R/E
Oil & Gas Interest
Securities
(Schedule 2)
Publicly Traded
Privately Held
Accounts Receivable
ASSETS LIABILITIES(OMIT CENTS)
Notes Payable
(Schedule 6)
Accounts Payable
(OMIT CENTS)
Cash
(Schedule 1)
In This Credit Union
In Other InstitutionsTaxes Owing
Business Phone
Employer/Position Years
Business Address
Home PhoneHome Address:
Name of Spouse:
Date of Birth:
Spouse's Social Security #:
Social Security Number:
Name:
Signature _______________________ Spouse's Signature __________________
Confidential Personal Financial Statement
Account #
Shares Market Price
Orig. Balance Rate Present Balance
Face Amount Net Cash Value
Type of Account Net Plan Value
Orig. Balance Rate Present Balance
Schedule 1 - Deposit Accounts
Name & Location Where Held Balance Type of Acct. Pledged?Name on Account
Total at NACCU Total Other Institutions
Schedule 2 - Stocks, Bonds and Mutual Funds (Publicly & Privately Held)
Name of Issuer Value Today Name of Owner Pledged?
Total
Schedule 3 - Notes Receivable
CollateralPaymentMaturity Due From
Total to Page 1
Schedule 4 - Life Insurance and Annuities (Including Employer Provided)
Company Beneficiary Cash Value Pledged?Policy Loan
Total to Page 1
Schedule 5 - Deferred Compensation & Retirement Plans
Plan Administrator Beneficiary Balance Policy Loan Pledged?
Total to Page 1
Schedule 6 - Notes Payable (Exclude Mortgages Listed in Schedule 7 & 8)
Due To Maturity Payment Collateral
Total to Page 1
Signature _______________________ Spouse's Signature __________________
Confidential Personal Financial Statement
Orig. Balance Market Value Present Balance
Ownership Entity Type
I understand that the following questions are addressed to me and I have answered them as appropriate.
Yes No 1. Are any of the Assets held in trust, in an estate or in any other name or capacity?
Yes No 2. Were any of the Assets (i) owned or claimed by your spouse before marriage, or (ii) acquired by your spouse during marriage by gift or
inheritances; or (iii) recovered for personal injuries sustained by your spouse during marriage; or (iv) acquired from the proceeds of
liquidations of any of the preceding?
Yes No 3. Are any of your real estate properties used by you in your business?
Yes No 4. Do any of your assets secure any debts which have not been reported in the preceding schedules?
Yes No 5. Are you a party to any suit or are there any unsatisfied judgments against you?
Yes No 6. Have you been through bankruptcy or made an assignment for benefit of creditors?
I have explained fully under "Additional Remarks" on this page any "yes" answers to the forgoing questions.
Yes No 7. I have made a will; the executor is ________________________________________
The preceding financial and supporting schedules, which are submitted to you (Lender) for the purpose of obtaining credit from you, present a true, complete and correct
statement of my financial condition as of the date shown. I understand that misrepresenting information on this statement is a criminal offense under federal law punishable
by a fine and/or imprisonment.
I will notify you in writing of any material unfavorable change in my financial condition. In the absence of such notice, you may consider this a continuing statement and
substantially correct. If I apply for further credit, this statement shall have the same force and effect as if delivered as an original statement of my financial condition at the
time I request such further credit. You are authorized to contact any appropriate third parties for the purpose of verifying any stated information herein or at any time by me
to you, and obtaining credit information at any time from any of my creditors and/or credit reporting agencies. I authorize Navy Army Community Credit Union to obtain
consumer credit reports on myself. This financial statement and any other information furnished to you shall be your property. You are authorized to answer questions
about your credit experience with me.
Payment Lien Holder
Total to Page 1
Schedule 7 - Mortgages Payable
Description of Address Percentage Owned
Business Name Nature of Business Value How Valued Related Debt
Total to Page 1
Schedule 9 - Other Assets and Liabilities Contingent and Otherwise and/or Additional Remarks
Schedule 8 - Other Business Interests
Signature _______________________ Spouse's Signature __________________
Debt Schedule
Company Name:
Original Original Current Interest Maturity Monthly
Name of Creditor Amount Date Balance Rate Date Payment Collateral
Totals
Print Name
Signature
Date
Navy Army Community Credit Union (“NACCU”) asks that it be able to use certain personal
information of yours, including identifying information from your personal identification card,
such as your driver’s license or passport, in order to meet our federal record keeping
requirements. In addition, we would like to use your information to assist NACCU, and you, in
preventing identity theft and to confirm that only you are using your identification card and
personal information. We will not use your information for telemarketing purposes. We also
need to use your personal information to request a report of your banking account history from a
third party, such as ChexSystems, Inc. If our use of your personal information for these purposes
is acceptable, and if your personal information printed below and that you have given on the
other account opening documents is correct, please indicate by signing below. NACCU may
retain this information for our record keeping purposes.
________________________________ ________________________________
Member name Member name
Regulation B Notice of Intent to Apply for Joint Credit
Lender Applicant NAVY ARMY COMMUNITY CREDIT UNION 5725 Spohn Dr. Corpus Christi, TX 78413 361-986-4500 Member NCUA
Notice
You intend to apply for joint credit.
Acknowledgement
You acknowledge receipt of a copy of this notice on today’s date. X ___________________________________________________ X ___________________________________________________ X ___________________________________________________ X ___________________________________________________
Revised 02.07.2017 JL
Date: _____________ Account Number: _____________
