SBA Loans

Business Purpose/Commercial Loan Application

Applicants should complete this from (including the referenced addenda, if applicable) as “Borrower” or “Co-Borrower,” as applicable. Co-Borrower information must also be provided (and the appropriate box checked) when the income or assets of a person other than the Borrower (including the Borrower’s spouse) will be used as a basis for the loan qualification or the income or assets of the Borrower’s spouse or other person who has community property rights pursuant to state law will not be used as a basis for loan qualification, but his or her liabilities must be considered because the spouse or other persona has community property rights pursuant to applicable law and borrower resides in a community property state, the security property is located in a community property state, or the Borrower is relying on other property located in a community property state as a basis for repayment of the loan.

NOTE: Borrower and Co-Borrower means an “applicant” for a potential loan. Once the application is completed, it is not to be considered a loan commitment from the lender or the lenders’ broker for the requested loan. Any loan commitment from the lender or the lenders’ broker must be in writing and signed by either party.

If this is an application for joint credit, Borrower and Co-Borrower each agree that we intend to apply for the joint credit (sign below):

Note: Please fill all (*) fields

Signature * : Borrower c/o an Authorized Signer / Principal / Guarantor

Signature*: Co-Borrower c/o an Authorized Signer / Principal / Guarantor

I. CREDIT REQUESTED
Loan Type* Purchase No/Limited Cash-Out Refinance Business Expansion Other (explain):
Ground-Up Construction Cash-Out Refinance Rehab
Amount Requested* Interest Rate* Amortization Type*: Fixed Variable
$ % Fixed Variable
Proposed Exit Strategy for Requested Loan* Intended loan purpose and use of loan proceeds shall be set forth on a separate “Loan Purpose and Real Property Loan Security Declaration.” *
Refinance Resale Principal Pay down Other (specify):
Vesting (Manner in which title will be held)*: Will additional property be given as collateral by a guarantor, or any person who will not be a Borrower or Co-Borrower?
II. PROPERTY INFORMATION
Subject Property Address (street, city, state, & ZIP)* No. of Units*
Current Occupancy*
Proposed Occupancy (if occupancy is to change post close)*
Year Built*
Type of Property*
Liens Currently on Property
Beneficiary:*
Lien Position:
Interest Rate:*
Amortization Type:*
Monthly Payment:*
Balloon Payment (Date):
Balloon Payment (Amount):
Lien Will Remain on Title * Yes No
Lien Will Subordinate* yes (if yes, what position) No
Lien Will be Paid-Off from Loan Proceeds* Yes No
Additional Lien Information on an Addendum* Yes No
Beneficiary:*
Lien Position:
Interest Rate:*
Amortization Type:*
Monthly Payment:*
Balloon Payment (Date):
Balloon Payment (Amount):
Lien Will Remain on Title* Yes No
Lien Will Subordinate* yes (if yes, what position) No
Lien Will be Paid-Off from Loan Proceeds* Yes No
Complete this line if this is a construction loan.
$
Year Lot Acquired Original Cost Lot Amount Existing Liens (a) Present Value of Lot (b) Proposed Rehab Budget Estimated After Repair Value
$ $ $ $ $
Complete this line if this is a Refinance loan.
$
Year Lot Acquired Original Cost Amount Existing Liens Cost Improvements Made Cost Improvements to be Made
$ $ $ $
III. BORROWER INFORMATION
Borrower's Name (include Jr. or Sr. if applicable)* Co-Borrower's Name (include Jr. or Sr. if applicable)*
Social Security Number* Home Phone (incl. area code) Yrs. School
DOB (mm/dd/yyyy)		 Social Security Number* Home Phone (incl. area code) Yrs.School DOB(mm/dd/yyyy)
  • Married (includes registered domestic partners)
  • Unmarried (includes, divorced, widowed)
  • Single (never been married)
  • Separated
  • Dependents
  • (not listed by Co-Borrower)
  • No.
  • Ages
  • Married (includes registered domestic partners)
  • Unmarried (includes, divorced, widowed)
  • Single (never been married)
  • Separated
  • Dependents
  • (not listed by Co-Borrower)
  • No.
  • Ages
Present Address (street, city, state, ZIP/country)* Own Rent No. Yrs. Present Address (street, city, state, ZIP/country) Own Rent No. Yrs.
Mailing Address, if different from Present Address Mailing Address, if different from Present Address
If residing at present address for less than two years, complete the following:
Former Address (street, city, state, ZIP)* Own Rent No. Yrs. Former Address (street, city, state, ZIP)* Own Rent No. Yrs.
Former Address (street, city, state, ZIP) Own Rent No. Yrs. Former Address (street, city, state, ZIP) Own Rent No. Yrs.
IV. ENTITY INFORMATION
Entity is a/an:* Corporation LLC Partnership Limited Partnership Nonprofit Entity
Government Entity Trust Other (specify)
Entity Name:* State of Organization:* TIN:*
Signing Party on Behalf of Entity:* Title:*
List Members Under the Entity and their Title (Owner of 20% or more):
1. 6.
2. 7.
3. 8.
4. 8.
5. 10.
Date of Filing to Organize: Filing Locations:
Principal Place of Business Address (not a P.O. Box)
Mailing Address (if different form the above)
Balance Sheet Available for Review* Yes No Financial Statements have been audited by CPA or PA*
Yes No
Additional Member Information on an Addendum* Yes No
*ATTACH A SIGNED COPY OF THE CORPORATION DOCUMENTS ADDENDUM TO BE FILLED OUT BY A PRINCIPAL AND/OR GUARANTOR
Borrower V.EMPLOYMENT INFORMATION Co-Borrower
Name & Address of Employer*
Self Employed
Yrs. on this job*
Yrs. employed in this line of work/profession*
Name & Address of Employer
Self Employed
Yrs. on this job
Yrs. employed in this line of work/profession
Position/Title/Type of Business*
Business Phone (incl. area code)*
Position/Title/Type of Business
Business Phone (incl. area code)
If employed in current position for less than two years or if currently employed in more than one position, complete the following:
Name & Address of Employer
Self Employed
Dates (from-to)
Monthly Income
$
Name & Address of Employer
Self Employed
Dates (from-to)
Monthly Income
$
Position/Title/Type of Business
Business Phone (incl. area code)
Position/Title/Type of Business
Business Phone (incl. area code)
VI. MONTHLY INCOME AND COMBINED HOUSING EXPENSE INFORMATION
Gross Monthly Income
  • Base Empl. Income*
  • Overtime*
  • Bonuses*
  • Commissions*
  • Dividends/Interest*
  • Net Rental Income*
  • Other(before completing, see the notice in "describe other income," below)
  • Total*
Borrower/ Entit
  • $
Co-Borrower/ Entit
  • $
Total
  • $
Monthly Housing Expense
  • Rent
  • First Mortgage (P&I)
  • Second Mortgage (P&I)
  • Other Financing (P&I)
  • Hazard Insurance
  • Real Estate Taxes
  • Mortgage Insurance
  • Homeowner Assn. Dues
  • Other:
  • Total
Current Housing Expenses
  • $
Requested Loan Housing Expenses
  • $
Describe Other Income Notice: Alimony, child support, or separate maintenance income need not be revealed if the Borrower (B) or Co-Borrower (C) does not choose to have it considered for repaying this loan.
B/C
Monthly Amount
VII. ASSETS AND LIABILITIES

This Statement and any applicable supporting schedules may be completed jointly by both married and unmarried Co-borrowers if their assets and liabilities are sufficiently joined so that the Statement can be meaningfully and fairly presented on a combined basis; otherwise, separate Statements and Schedules are required. If the Co-Borrower section was completed about a non-applicant spouse or other person, this Statement and supporting schedules must be completed by that spouse or other person also.

NOTE: If completed jointly, please note the responsible party for the asset or liability.
Completed
Jointly
Not Jointly
ASSETS

Description

Cash deposit toward
purchase held by:*
Cash or Market Value*
$
List checking and savings accounts below
Borrower
Co-borrower
Name and address of Bank, S&L, or Credit Union
Acct. no.
$
Borrower
Co-borrower
Name and address of Bank, S&L, or Credit Union
Acct. no.
$
Borrower
Co-borrower
Name and address of Bank, S&L, or Credit Union
Acct. no.
$
Borrower
Co-borrower

Stocks & Bonds

(Company name/number description)

Acct. no.
$
Borrower
Co-borrower

Life insurance net cash value

Face amount: $

Subtotal Liquid Assets
$
Realestateowned(entermarketvalue from schedule of real estate owned)
$
Borrower
Co-borrower
Vested interest in retirement fund
$
Borrower
Co-borrower
Net worth of business(es) owned (attach financial statement)
$
Borrower
Co-borrower
Automobiles owned (make and year)
$
Borrower
Co-borrower
Other Assets (itemize)
$
Total Assets a.
$

Liabilities and Pledged Assets. List the creditor's name, address and account numberfor all outstanding debts, including automobile loans, revolving charge accounts, real estate loans, alimony, child support, stock pledges, etc. Use continuation sheet, if necessary. Indicate by (*) those liabilities which will be satisfied upon sale of real estate owned or upon refinancing of the subject property

LIABILITIES
Borrower
Co-borrower
Name and address of Company
Acct. no.
Monthly Payment & Months Left to Pay
$ Payment/Months
Unpaid Balance
$
Borrower
Co-borrower
Name and address of Company
Acct. no.
$ Payment/Months
$
Borrower
Co-borrower
Name and address of Company
Acct. no.
$ Payment/Months
$
Borrower
Co-borrower
Name and address of Company
Acct. no.
$ Payment/Months
$
Borrower
Co-borrower
Name and address of Company
Acct. no.
$ Payment/Months
$
Borrower
Co-borrower
Name and address of Company
Acct. no.
$ Payment/Months
$
Borrower
Co-borrower
Alimony/ChildSupport/Separate Maintenance Payments Owed to:
$
Borrower
Co-borrower
Job-RelatedExpense(child care,union dues,etc.)
$
Total Monthly Payments
$
Net Worth(a minus b)
=>
$
Total Liabilities b.
$
VIII. SCHEDULE OF REAL ESTATE
Property Address(Enter atleast one)*
Type of Property*
  • Totals
Present Market Value*
  • $
Amount of Mortgages & Liens*
  • $
Gross Rental Income*
  • $
Mortgage Payments*
  • $
Maintenance, Taxes & Miscs.*
  • $
Net Rental Income*
  • $
Additional Properties on an Addendum*
Yes
No
IX. LIST OF AUTHORIZED SIGNERS (BORROWER, CO-BORROWER AND/OR GUARANTORES) FOR THIS LOAN REQUEST (please fill all fields)*
Name and Title:*
Borrower
Guarantor
Mailing Address:*
Name and Title:*
Borrower
Guarantor
Mailing Address:*
Name and Title:*
Borrower
Guarantor
Mailing Address:*
SSN:*
TIN:*
Phone Number:*
Email Address:*
SSN:*
TIN:*
Phone Number:*
Email Address:*
SSN:*
TIN:*
Phone Number:*
Email Address:*
a.
Purchase price
b.
Alterations, improvements, repairs
c.
Land (if acquired separately)
d.
Refinance (incl. debts to be paid off)
e.
Estimated prepaid items
f.
Estimated closing costs
g.
Discount (if Borrower will pay)
h.
Total costs (add items a through g)
i.
Subordinate financing
j.
Borrower's closing costs paid by Seller
k.
Other Credits (explain)
i.
Loan amount
m.
Cash from/to Borrower (subtract h from l)
If you answer "Yes" to any questions a through i, please use continuation sheet for explanation.
Borrower
Co-Borrower
Yes
No
Yes
No
a.
Are there any outstanding judgments against you?
b.
Have you been declared bankrupt within the past 7 years?
c.
Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?
d.
Are you a party to a lawsuit?
e.
Have you directly or indirectly been obligated on any loan which resulted in foreclosure, transfer of title in lieu of foreclosure, or judgment?
f.
Are you presently delinquent or in default on any Federal debt or any other loan, mortgage, financial obligation, bond, or loan guarantee? If "Yes," give details as described in the preceding question.
g.
Are you obligated to pay alimony, child support, or separate maintenance?
h.
Is any part of the down payment borrowed?
I.
Are you a co-maker or endorser on a note?
J.
Are you a U. S. citizen?
K.
Are you a permanent resident alien?
l.
Do you intend to occupy the property as your primary residence?
m.
Have you had an ownership interest in a property in the last three years?
(1)
What type of property did you own-principal residence (PR), second home (SH), or investment property (IP)?
(2)
How did you hold title to the home-solely by yourself (S), jointly with your spouse (SP), or jointly with another person (O)?
XII. ACKNOWLEDGEMENT AND AGREEMENT

Each of the undersigned specifically represents to Lender and to Lender's actual or potential agents, brokers, processors, attorneys, insurers, servicers, successors and assigns and agrees and acknowledges that: (1) the information provided in this application is true and correct as of the date set forth opposite my signature and that any intentional or negligent misrepresentation of this information contained in this application may result in civil liability, including monetary damages, to any person who may suffer any loss due to reliance upon any misrepresentation that I have made on this application, and/or in criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Sec. 1001, et seq.; (2) the loan requested pursuant to this application (the "Loan") will be secured by a mortgage or deed of trust on the property described in this application; (3) the property will not be used for any illegal or prohibited purpose or use; (4) all statements made in this application are made for the purpose of obtaining a residential mortgage loan; (5) the property will be occupied as indicated in this application; (6) the Lender, its servicers, successors or assigns may retain the original and/or an electronic record of this application, whether or not the loan is approved; (7) the Lender and its agents, brokers, insurers, servicers, successors and assigns may continuously rely on the information contained in the application, and I am obligated to amend and/or supplement the information provided in this application if any of the material facts that I have represented herein should change prior to closing of the Loan; (8) in the event that my payments on the Loan become delinquent, the Lender, its servicers, successors, or assigns may, in addition to any other rights and remedies that it may have relating to such delinquency, report my name and account information to one or more consumer credit reporting agencies; (9) ownership of the Loan and/or administration of the Loan account may be transferred with such notice as may be required by law; (10) neither Lender nor its agents, brokers, insurers, servicers, successors or assigns has made any representation or warranty, express or implied, to me regarding the property or the condition or value of the property; (11) my transmission of this application as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or my facsimile transmission of this application containing a facsimile of my signature, shall be as effective, enforceable and valid as if a paper version of this application were delivered containing my original written signature; (12) Lender will retain this application and any other credit information Lender receives, even if no loan or credit is granted; (13) Lender is authorized by to provide any insurer, lender, or investor, or their successors, with any information and documentation they may request with respect to my/our application, credit or loan; and (14) Lender may rely on the representations set forth herein without verifying the information provided by the borrower.

  • Borrower:
  • Co-Borrower:
  • Guarantor:
XIII. INFORMATION FOR GOVERNMENT MONITORING PURPOSES

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 disclosure laws. You are not required to furnish this information, but are encouraged to do so. The law provides that a Lender may not discriminate either on the basis of this information, or on whether you choose to furnish it. If you furnish the information, please provide both ethnicity and race. For race, you may check more than one designation. If you do not furnish ethnicity, race, or sex, under Federal regulations, this lender is required to note the information on the basis of visual observation and surname if you have made this application in person. If you do not wish to furnish the information, please check the box below. (Lender must review the above material to assure that the disclosures satisfy all requirements to which the lender is subject under applicable state law for the particular type of loan applied for.)
BORROWER
I do not wish to furnish this information
CO-BORROWER
I do not wish to furnish this information
Ethnicity:*
Hispanic or Latino
Not Hispanic or Latino
Ethnicity:*
Hispanic or Latino
Not Hispanic or Latino
Race:*
  • American Indian or Alaska Native
  • Asian
  • Black or African American
  • Native Hawaiian or Other Pacific Islander
  • White
Race:*
  • American Indian or Alaska Native
  • Asian
  • Black or African American
  • Native Hawaiian or Other Pacific Islander
  • White
sex:*
Female
Male
sex:*
Female
Male

To be completed by Loan Originator

This information was provided:

  • In a face-to-face interview
  • In a telephone interview
  • By the applicant and submitted by fax or mail
  • By the applicant and submitted via e-mail or the internet

request free consultation