Fillable Small Business Loan Application (Navy Federal Credit Union)

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Small Business Loan Application (Navy Federal Credit Union)

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Amount $_______________________________________
Purpose________________________________________
Collateral_______________________________________
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Checking account number to attach
overdraft protection
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Amount $_______________________________________
Purpose________________________________________
Collateral_______________________________________
Complete Legal Name of Business (or individual if sole proprietorship) Access Number DBA Name (if applicable) Federal Tax ID No.
Business Address: Street City State Zip Code Business Phone No.
Street
City State Zip Code Business Fax No.
Date Business Established Type of Business Website Address No. of Employees
Business Contact Name Contact Email Address Contact Phone No. Current Time as Owner
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If yes, please explain:
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(Name of financial institution or third-party account):
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This document contains both information and form fields. To read information, use the Down Arrow from a form field.
Navy Federal
®
Small Business Loan Application
This Small Business Loan Application is to be used for small business credit requests up to an aggregate maximum of $50,000.
For credit requests exceeding this amount, please contact a business lending officer (1-877-418-1462).
A. Type of Loan Requested
Term (Must be secured)
Credit Card
Mastercard
®
Visa
®
Checking Line of Credit (up to $5,000)
(For overdraft protection only)
Vehicle Loan
B. Business Member
(Applicant)
Mailing Address:
(If different from
above address)
Form of Business:
Sole Proprietorship
Partnership
Limited Partnership
Corporation
Limited Liability Company (LLC)
Professional Limited Liability Company (PLLC)S C
C. Business Owners
Name Title Percentage of Ownership
D. Outstanding Business Obligations
Name of Creditor Type of Loan (Sec./Unsec./Equip./Lease) Original Amount Balance Owed* Monthly Payment Maturity Date
*Are any business assets currently pledged as collateral? Yes No If a loan is a refinance, indicate by asterisk (*) which creditors will be paid off.
E. Other Business Information
(If the answer is “yes” to any questions below, use the line to explain in further detail.)
Is the business liable on any debts not shown above? Yes No
Is the business currently involved in any litigation or other legal claims? Yes No
Is the business or any owner liable as guarantor or endorser? Yes No
Are any taxes currently past due by the business? Yes No
Are any taxes currently past due by any owner? Yes No
Has the business ever declared bankruptcy? Yes No
Has any owner ever declared personal bankruptcy? Yes No
Has any owner or other principal of the business ever been convicted of a felony? Yes No
Other Business Accounts
Business Checking Business Savings/Investment Business Loan/Line Credit Card(s) Cash Management Merchant Payroll Processing
*96SBL*
Page 1 of 4
© 2019 Navy Federal NFCU 96SBL (11-19)
Business Lending Officer Name (if known)
Clear
Page 2 of 4
© 2019 Navy Federal NFCU 96SBL (11-19)
Owner 1 Name: First MI Last Suffix
Residence Address: Street City State Zip Code
Date of Birth (MM/DD/YY)
Social Security No. Home Phone No.
Email Address
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No. of Years
Monthly Housing Expense Monthly Salary Other Monthly Income*
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Owner 2 Name: First MI Last Suffix
Residence Address: Street City State Zip Code
Date of Birth (MM/DD/YY)
Social Security No. Home Phone No.
Email Address
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No. of Years
Monthly Housing Expense Monthly Salary Other Monthly Income*
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*Alimony, child support, and separate maintenance income need not be revealed if you do not wish to have them considered as bases for repaying this obligation.
F. Business Owner 1 Information
(Complete for each owner. Attach separate sheets for each owner if necessary.)
Own
Rent
Other Monthly Income Source
Rental
Investments Pension Other
Is the business considered a primary or secondary source of income? Primary
Secondary
The personal nancial statement information portions (below) are only required if the credit request is $25,000 and higher.
Assets
Cash
Investments
(Schedule 1)
Retirement Fund
Real Estate Owned
(Schedule 2)
Auto(s)
Other Personal Property
Other Assets
Total Assets
Liabilities
Monthly Payments Balance Owed
Real Estate Mortgage
(Schedule 2)
Installment Loans
Credit Cards
Student Loans
Other Liabilities
Total Liabilities
Net Worth
(Assets minus liabilities)
Total Liabilities Plus Net Worth
Schedule 1
Investment Stocks
and Bonds
Description Broker No. of Shares or PAR Total Market Value Pledged
Yes No
Yes No
Schedule 2
Real Estate
Owned
Address Title in Name of Market Value Mortgage Lender Balance Monthly Payment Rental Income
Business Owner 2 Information
Own
Rent
Other Monthly Income Source
Rental
Investments Pension Other
Is the business considered a primary or secondary source of income? Primary
Secondary
The personal nancial statement information portions (below) are only required if the credit request is $25,000 and higher.
Assets
Cash
Investments
(Schedule 1)
Retirement Fund
Real Estate Owned
(Schedule 2)
Auto(s)
Other Personal Property
Other Assets
Total Assets
Liabilities
Monthly Payments Balance Owed
Real Estate Mortgage
(Schedule 2)
Installment Loans
Credit Cards
Student Loans
Other Liabilities
Total Liabilities
Net Worth
(Assets minus liabilities)
Total Liabilities Plus Net Worth
Schedule 1
Investment Stocks
and Bonds
Description Broker No. of Shares or PAR Total Market Value Pledged
Yes No
Yes No
Schedule 2
Real Estate
Owned
Address Title in Name of Market Value Mortgage Lender Balance Monthly Payment Rental Income
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$0.00
$0.00
$0.00
$0.00
$0.00
Owner 3 Name: First MI Last Suffix
Residence Address: Street City State Zip Code
Date of Birth (MM/DD/YY)
Social Security No. Home Phone No.
Email Address
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No. of Years
Monthly Housing Expense Monthly Salary Other Monthly Income*
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Page 3 of 4
© 2019 Navy Federal NFCU 96SBL (11-19)
Business Owner 3 Information
Own
Rent
Other Monthly Income Source
Rental
Investments Pension Other
Is the business considered a primary or secondary source of income? Primary
Secondary
The personal nancial statement information portions (below) are only required if the credit request is $25,000 and higher.
Assets
Cash
Investments
(Schedule 1)
Retirement Fund
Real Estate Owned
(Schedule 2)
Auto(s)
Other Personal Property
Other Assets
Total Assets
Liabilities
Monthly Payments Balance Owed
Real Estate Mortgage
(Schedule 2)
Installment Loans
Credit Cards
Student Loans
Other Liabilities
Total Liabilities
Net Worth
(Assets minus liabilities)
Total Liabilities Plus Net Worth
Schedule 1
Investment Stocks
and Bonds
Description Broker No. of Shares or PAR Total Market Value Pledged
Yes No
Yes No
Schedule 2
Real Estate
Owned
Address Title in Name of Market Value Mortgage Lender Balance Monthly Payment Rental Income
G. Equal Credit Opportunity Notice
Were your gross revenues $1,000,000 or less in your previous fiscal year? Yes No (One of these check boxes must be checked before
submitting your application.
) If you answered “Yes” and Navy Federal Credit Union denies your application for credit, you have the right to a written state-
ment of the specific reasons for the denial. To obtain the statement, please contact Navy Federal Credit Union, Business Services, 820 Follin Lane, Vienna,
VA 22180 (1-877-418-1462) within 60 days from the date you were notified of our decision. We will send you a written statement of reasons for the denial
within 30 days of receiving your request for the statement. The following describes additional protections afforded to you. 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, or
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 the Bureau of Consumer Financial Protection, 1700 G Street NW, Washington, DC 20006.
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$0.00
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Page 4 of 4
Each Owner
Must Initial
Owner 1 ________________
Owner 2 ________________
Owner 3 ________________
Each Owner
Must Initial
Owner 1 ________________
Owner 2 ________________
Owner 3 ________________
Owner 1 Signature
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Print Name Date (MM/DD/YY)
Owner 2 Signature
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Print Name Date (MM/DD/YY)
Owner 3 Signature
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Print Name Date (MM/DD/YY)
H. Agreement and Disclosures
As used in this application, the words “undersigned” and “owner(s)” refer to the undersigned owner(s) of the business member (individually and collectively). The words
“you” and “your” refer to the business member and the guarantors (individually and collectively). The words “us,” “we,” and “our” refer to Navy Federal Credit Union
(“Navy Federal”). The representations you make in this application and the information and documents (“supporting information”) provided to Navy Federal are made with
the purpose of obtaining credit for the business member. You acknowledge that Navy Federal may rely on your representations in its decision to grant such credit. You certify
that your statements are true and correct in every detail and accurately represent your financial condition on the date given below. We are authorized to make all inquiries
we deem necessary to verify the accuracy of the information contained herein and determine your creditworthiness. We are further authorized to answer any questions
about our experience with you.
By submitting this application, you consent to us obtaining and using consumer credit reports in connection with this application to evaluate your creditworthiness. If
this application results in opening a business loan account, you also consent to us obtaining and using consumer credit reports and other information about you for
purposes of reviewing or collecting the account. You understand and consent to the use of these reports in decisions to deny account applications, close accounts,
and/or restrict the accounts or services. We may check credit and trade references in reviewing the above and disclose information about our credit experience with
you, as authorized by law. In addition to the information requested above, we may request additional information from you.
If the request for credit is approved, the business member shall, upon closing, pay all fees related to the extension of credit and maintain a Navy Federal share
account. The undersigned, being all the individuals having an ownership interest in the applicant, certify that all representations in this application and supporting
information are true, correct, and complete, and agree to notify Navy Federal promptly of any material change(s); the undersigned also certify that they are duly
authorized to apply for the extension of credit on behalf of the applicant and bind the applicant to the terms of the credit.
You acknowledge that you have read and understand this application and supporting information, that you agree to the terms and conditions of the credit being
applied for by the applicant, and that you have received and understand any disclosures that accompany this application for credit by the applicant. You further
understand and agree that Navy Federal may change the terms of, or add new terms to, the agreement governing the extension of credit to the applicant at any time,
subject to applicable law, without further notice to you.
I. Personal Guarantee – Individual Owner Agreement and Disclosures
In consideration of the credit extended, if approved, and as a condition for Navy Federal to extend such credit, the undersigned personally guarantees the
prompt payment when due all present and future liabilities for the credit extended, if approved, to the business member. The undersigned understands
and agrees to be individually liable for the debt, fees, finance charges, or other charges incurred by or for the benefit of, or assessed against the business
member and for transactions charged to any account of the applicant or debt owed by the business member (collectively, the “obligations”). The undersigned
unconditionally agrees to repay any and all obligations according to the terms of the documents governing the extension of credit to the business member.
In addition, the undersigned agrees to be jointly and severally liable with the business member and other undersigned owner(s), if any, for any obligations
incurred by the business member regardless of the person who may have incurred the obligations, including any authorized users.
Statutory Lien: The business member and the owner(s) acknowledge that Navy Federal has the right to enforce a statutory lien against the shares and dividends on deposit
in all joint and individual consumer and business accounts, and any monies held by Navy Federal now and in the future, owned by the business member or any owner(s), to
the extent of any outstanding financial obligation of the business member to Navy Federal, as that amount varies from time to time. The business member and the owner(s)
acknowledge that Navy Federal may enforce the right without further notice to the business member or the owner(s) to satisfy a financial obligation to Navy Federal for
which the business member was primarily, secondarily, or otherwise responsible, including without limitation as an obligor, maker, co-maker, borrower, co-borrower,
guarantor, co-signer, endorser, surety, or accommodation party. The statutory lien does not apply to shares in any individual retirement account (IRA).
Security Interest Specific for Credit Cards. The business member and the owner(s) acknowledge and pledge,
specifically as a condition of the use of a credit card issued to the business member, that the business member and
owner(s) have voluntarily granted Navy Federal a security interest in all joint and individual consumer and business
share accounts at Navy Federal owned by the business member or any owner(s). If the business credit card loan
becomes delinquent, this security interest may be used without further notice to pay all or part of such delinquency.
This security interest does not apply to shares in an IRA.
Security Interest Specific for Business Checking Line of Credit (business CLOC). The business member and the
owner(s) acknowledge and pledge, specifically as a condition of use of the business CLOC, that the business member
and the owner(s) have voluntarily granted Navy Federal a security interest in all joint and individual consumer and
business share accounts at Navy Federal owned by the business member or any owner(s). If the business CLOC
becomes delinquent, this security interest may be used without further notice to pay all or part of such delinquency.
This security interest does not apply to shares in an IRA.
Additional Security Interest: The business member and the owner(s) acknowledge and pledge to Navy Federal a security interest in all individual and joint consumer or
business share accounts at Navy Federal owned by the business member or any owner(s), and in the collateral securing loans(s), if any, that the business member
has with Navy Federal now and in the future, including any type of change or increase, and any proceeds from the sale of such collateral and of insurance thereon,
not to exceed the unpaid balance of any loan made to and any charges payable by the business member. The security interest in collateral securing other loans does
not apply to any loan(s) on the undersigned’s primary residence(s), unless specified to the contrary.
J. Benecial Owner Certication
To help the government fight financial crime, federal regulation requires certain financial institutions to obtain, verify, and record information about the beneficial
owners of legal entity customers. All applicants must select one of the following:
N/A - Business is a sole proprietorship, unincorporated association, or otherwise not applicable.
Certification Regarding Beneficial Owners of Legal Entity Customers (NFCU 98) form attached.
I certify that I am familiar with the most recent NFCU 98 form provided to Navy Federal and confirm that all information provided on that form is up to date and accurate.
K. Submission Options
Secure Document Upload (SDU): https://sdu.navyfederal.org/busloan
L. Signatures
(All business owners MUST SIGN.)
© 2019 Navy Federal NFCU 96SBL (11-19)
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Small Business Loan Application (Navy Federal Credit Union)

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Completed 6 February 2021

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