Fillable COMMERCIAL LOAN PACKAGE CHECKLIST

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COMMERCIAL LOAN PACKAGE CHECKLIST

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  • 55 check-boxes
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COMMERCIAL LOAN PACKAGE CHECKLIST
GENERAL DOCUMENTS:
Signed Commercial Loan Application (attached)
Business Description (attached) or Business Plan
Personal Financial Statement for each guarantor, complete and signed (attached)
Applicant Employment History (attached)
Business Debt Schedule (attached)
Last 3 years business tax returns, including K-1 Schedules
Last 3 years personal tax returns with all schedules for each guarantor
Interim year to date profit and loss / balance sheet
Last 2 months of business bank statements
Primary form of ID for all borrowers
ADDITIONAL DOCUMENTS:
Real Estate Loans
Purchase Agreement
Construction Contract or Bid for improvements
Most recent property tax notice if available
Term Loans & Lines of Credit
Detailed purchase agreement or invoice for equipment or vehicle to be purchased
(Year, Make, Model, options, mileage and/or hours used)
Detailed equipment list with year, make, model, options, mileage and/or hours used
Detailed list of Accounts Receivable
What you can expect:
A commercial loan officer will contact you within one business day after we receive your application to discuss your
request. PFCU will attempt to make the decision on the forms you supplied; however, it is possible that additional
information may be required. Incomplete or unsigned applications may delay your request.
Name: SSN:
○
Real Estate
Owner/Guarantor Information
Title: DOB:
○
Other ___________
○
Distribution
EIN: Date Established: Owner Since: # Employees: # Locations:
Type of Business:
○
Service
○
Retail
○
Wholesale
○
Manufacturing
Commercial Loan Application
Credit Requested
Address: City: State: Zip Code:
Phone: Fax: Website/Email:
Loan Purpose:
DBA Name (if applicable):Business Name:
Business Information
Less Funds provided by you
Less Funds provided by others
Total Loan Needed:
Total Funds Needed: Term of Credit: Loan Type:
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify,
and record information that identifies each person or business that opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, if applicable, and other information that will
allow us to identify you.
We may also ask to see your driver's license or other identifying documents.
□
Unincorporated Association
□
Other __________
Business Structure:
□
Individual
□
General Partnership
□
Sole Proprietorship
□
Limited Partnership
□
Limited Liability Partnership
□
Limited Liability Company
□
Unincorporated Organization
□
Corporation
□
C-Corp
□
S-Corp
Address: City: State: Zip Code:
Currently Rent or Own: From: To: % Ownership of Business: PFCU Account #
Name: SSN:
Address: City: State: Zip Code:
Phone: Email: Marital Status:
___ Single
___ Married
___ Separated
Title: DOB:
Currently Rent or Own: From: To: % Ownership of Business: PFCU Account #
Phone: Email: Marital Status: ___ Married
___ Single
___ Separated
Name: SSN:
Address: City: State: Zip Code:
Currently Rent or Own: From: To: % Ownership of Business: PFCU Account #
Title: DOB:
Phone: Email: Marital Status: ___ Married
___ Single
___ Separated
Name: SSN: Title: DOB:
Address: City: State: Zip Code:
Currently Rent or Own: From: To: % Ownership of Business: PFCU Account #
Phone: Email: Marital Status: ___ Married
___ Single
___ Separated
Decision Comments:
Approved Denied
Notes:
[ ] NO[ ] YES
Creditor Name
Collateral Offered By Applicant
Description Value Total Liens
Ownership Status for
Applicant
□ Purchase Money
□ Presently Owned
Professional Services
□ Purchase Money
□ Presently Owned
□ Purchase Money
□ Presently Owned
□ Purchase Money
□ Presently Owned
Miscellaneous Information
[ ] YES [ ] NO
[ ] YES [ ] NO
Accounting Firm: Contact Name: Phone # or Email:
Insurance Agency: Contact Name: Phone # or Email:
HAS THE BUSINESS CHANGED NAMES IN THE LAST 5 YEARS?
HAS THE BUSINESS RELOCATED FROM ONE COUNTY TO ANOTHER IN THE PAST 5
YEARS?
IS THE BUSINESS FOR SALE OR UNDER AGREEMENT THAT WOULD CHANGE THE
OWNERSHIP OF THE BUSINESS?
DO YOU HAVE AN UP TO DATE BUSINESS PLAN? (IF SO PLEASE PROVIDE A COPY
WITH YOUR APPLICATION)
HAS THE BUSINESS OR ANY PRINCIPAL/OWNER EVER DECLARED BANKRUPTCY?
IS THE BUSINESS OR ANY PRINCIPAL/OWNER A PARTY TO ANY LIEN OR LAWSUIT?
ARE YOU A MARIJUANA RELATED BUSINESS?
[ ] YES [ ] NO
[ ] YES [ ] NO
[ ] YES
YES
[ ] NO
NO
Required Signatures
By signing below you certify that to the best of your knowledge and belief all information contained on this application and in the accompanying statements and
documents is true and correct. You agree to notify PFCU immediately of any material changes in this application. You also acknowledge that the credit you are
applying for is for a business purpose. You authorize PFCU or its assigns to make inquiries to the Internal Revenue Service, and to provide information concerning
Applicant's credit relationship to business credit reporting and credit bureau agencies and associations and other creditors. This application remains the sole
property of PFCU whether or not the loan is granted. Applicant(s) signing the application is/are indeed authorized to act on behalf of the borrower. Borrower, co-
applicant(s), and guarantor(s), as appropriate grants to the credit union the authority to use reasonable means to verify application information by requesting credit
bureau reports, accessing information about borrower, co-applicant(s), and guarantor(s), as appropriate from other third party information providers, and other
means if applicable. Borrower further grants to credit union the right to share this information with third parties as reasonable in the normal course of doing
commercial lending including sharing this information with a third party for purposes of underwriting the loan.
Applicant Signature Title: Date:
Applicant Signature Title: Date:
ARE THERE ANY DELINQUENT STATE OR FEDERAL TAXES OWED BY THE BUSINESS? [ ] YES
[ ] NO
For Lender's Use Only
Officer No./Name Approved By Committee Date Application Date
Countered Conditional Approval
Applicant Signature Title: Date:
Applicant Signature Title: Date:
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Business Description
(Use separate attachments to answer questions if necessary or substitute with a business plan)
Nature of Business:
Type of Products/ Services:
Customer Profile:
Competitors --- How do you differentiate your company/ product from those of your competitors?
Major Past Accomplishments:
Future Plans for Growth / Expansion
:
How will this loan benefit your company?
Address: _________________________________________________________________________
City, State, & ZIP: __________________________________________________________________
Description of Other Income in Section 1 (ex. Child Support, Alimony, or any additional income)
Section 2. Loans Payable to Banks and Others (Use Attachments if necessary. Each attachment must be signed.)
Payment
$
$
$
Unpaid Income Tax (Describe in Sec. 7)
Credit Cards
Mortgages on Real Estate (Describe in
Section 4)
Book Value of Business Ventures
(Describe in Sec. 6)
Automobile (Present Value)
Real Estate (Describe in Sec. 4)
$
$
$
$
$
$
Total Assets
Life Insurance -
cash surrender value only
(Describe in Sec. 9) ………………………..
Personal/Other Assets
(Describe in Sec. 5)
$
$
Total Liabilities
Other Liabilities (Describe in Sec. 8)
Name: ______________________________________ Phone: __________________________
Business Name: ______________________________ Business Phone: ___________________
Assets (Omit Cents) Liabilities (Omit Cents)
Personal Financial Statement
As of _____________________________ ,___________
The following is submitted for the purpose of procuring, establishing and maintaining credit with you in behalf of the undersigned or persons,
forms, or corporations in whose behalf the undersigned may either severally or jointly with others execute a guaranty in your favor. The
undersigned warrants that this financial statement is true and correct until a written notice of changes is given by the undersigned.
Cash On Hand at PFCU $
Loans Payable to Banks & Others
(Describe in Sec. 2)
Loan on Life Insurance
Auto Loans & Leases
Loans Payable to Banks Unsecured
(Describe in Sec. 2)
$
$
$
$
$
$
$
Stocks and Bonds (Describe in Sec. 3)
Accounts & Notes Receivable
IRA or Other Retirement Accounts
Cash On Hand at other institutions $
Net Worth $
Section 1. Source of Income Contingent Liabilities
Other Income
(Describe Below)
…………..
Real Estate Income ……………………
Net Investment Income ………………..
Salary……………………………………
$
$
$
$
$
$
$
$
Other Special Debt ……………………
Provision for Federal Income Tax …….
Legal Claims & Judgements…………
As Endorser or Co-Signer …………….
Current Balance Type of CollateralName and Address of Noteholder(s) Original Balance
(Use attachments if necessary. Each attachment must be signed.)
Cost
Section 6. Business Ventures
(Include business name, % of ownership, your title, line of business, and years in business.)
Section 7. Unpaid Taxes
(Describe in detail, as to type, to whom payable, when due, and amount.)
Section 8. Other Liabilities
(Describe in detail.)
Section 9. Life Insurance Held
(Give face amount and cash value of policies - name of insurance company and beneficiaries.)
Personal & Miscellaneous Information
Signature:__________________________________________________
Signature:__________________________________________________
Print Name:_________________________________________________
Have you ever declared bankruptcy? (If yes, please provide year bankruptcy filed.)
By signing this form, I certify that all information on this form and any additional supporting information is true and complete to the best of my knowledge.
Number of Shares Market ValueName of Securities Total Value
Property B Property C
Section 4.
Real Estate Owned
Property A
Original Cost
Date Purchased
Property Address
Type of Property
(Residential, Commercial, or VL)
Are you a defendant in any suite or legal action?Do you have a will?
Print Name:_________________________________________________
Date: _______________________________
Date: _______________________________
List each parcel separately. Use attachment if necessary. Each attachment must be signed.
Mortgage Payment
Mortgage Balance
Mortgage Holder
Present Market Value
Section 5. Other Personal Property and Other Assets
(Household Items, ATV's, Boats, Valuables/Collections, etc.)
(Describe, and if any is pledged as security, state name of lien holder, amount of lien,
and payment amount.)
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Applicant Employment History
Applicant 1
Name:
Current Employer:
Income:
Position:
Hire Date:
Street Address:
City:
State:
ZIP:
Name:
Current Employer:
Previous Employer:
Income:
Position:
Street Address:
City:
State:
ZIP:
Dates of Employment: From: To:
Applicant 2
City:
State:
ZIP:
Income:
Position:
Hire Date:
Street Address:
City:
State:
ZIP:
Previous Employer:
Income:
Position:
Dates of Employment: From: To:
Street Address:
Applicant 3
Name:
Current Employer:
Income:
Position:
Hire Date:
Street Address:
City:
State:
ZIP:
Previous Employer:
Income:
Position:
Dates of Employment: From: To:
Street Address:
City:
State:
ZIP:
Applicant 4
Name:
Current Employer:
Income:
Position:
Hire Date:
Street Address:
City:
State:
ZIP:
Previous Employer:
Income:
Position:
Dates of Employment: From: To:
Street Address:
City:
State:
ZIP:
Date:
Business Debt Schedule
Business Name:
Indebtedness: Furnish the following information for all installment debts, contracts, notes, and mortgages payable for the business. Indicate
by asterisk (*) items to be paid with loan proceeds and your reason for paying the debt off. The present balance should agree with the
information provided on the current Personal Financial Statement or Balance sheet submitted. Please do not include accounts payable or
accrued liabilities.
Creditor
Name and Address
Collateral/Security
Interest
Rate
Original
Date
Maturity
Date
Original
Amount
Present
Balance
Monthly
Payment
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COMMERCIAL LOAN PACKAGE CHECKLIST

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Completed 10 September 2021

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