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BUSINESS LOAN APPLICATION INSTRUCTIONS
Thank you for choosing Landmark Credit Union for your financial needs.
Listed below are step-by-step instructions to complete your Business Loan Application. Along
with your
completed application, please provide the following:
1. A current individual financial statement for each owner/guarantor.
2. The most recent three years of federal personal tax returns for each owner/guarantor.
3. The most recent three years of complete federal business tax returns or business fiscal
year-end
4. financial statements.
5. If your request is greater than $500,000, year to date business financial statements within
90 days from the application date.
6. Provide a business plan to include company history.
Additional information may be necessary based on the loan request.
Section
1. Please complete this section as applicable. Briefly explain the focus of your business.
2. List the name, social security number, address, title and percentage ownership of each
owner/officer. (100% ownership interest should be shown)
3. Provide a detailed explanation regarding the purpose of the loan. Also, please complete the
following areas:
a) List the total dollars needed i.e., purchase price, construction cost, refinance amount,
etc.
b) List the amount of money you are providing.
c) Subtract B from A. This is the amount you are requesting to borrow.
4. Please list the estimated market value of the collateral available to secure the loan i.e., real
estate, machinery and equipment, furniture and fixtures and/or other items that could be
used as collateral. For real estate, please provide the following:
• a copy of the most recent tax assessment for each property
• for a purchase loan, a copy of the offer to purchase
• for a construction loan, a listing of improvements and costs
5. Please complete this section as applicable.
6. Please complete this section as applicable.
7. Please read this section, answer the questions and sign and date the application.
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BUSINESS LOAN APPLICATION
Name of Business/Borrower
Tax ID #:
Street Address
Telephone #:
FAX #:
City
County
State
Zip
Focus of Business
Date Business Established
Number of Employees
Primary Contact
Mailing Address
Business Tel#:
(2) List Below the Names of the Owners and/or Officers
Name
Soc. Sec. #
Home Address
Title
Ownership %
%
%
%
(3) Purpose of the Loan
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
A Total Dollars Needed:
$
B Less Money Provide by You:
$
C Total Loan Needed:
$
(4) Collateral
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
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(5) Business Indebtedness
Please summarize all business debts and guaranties provided. If necessary, attach a separate
piece of paper. Indicate by an asterisk (*) items to be paid by loan proceeds.
To Whom Payable
Original
Amount
Current
Balance
Interest
Rate
Maturity
Date
Monthly
Payment
If secured, describe Collateral
$
$
$
$
(6) Business Accounts
Financial Institution
Account Type
Balance
Date Opened
(7) Has your business or have any principals of the business ever filed bankruptcy? ___________
I
s your business or are any of the principals of the business currently involved in any pending
judgements, claims or lawsuits? _________
The undersigned represents that the information contained in this application is true and correct
to his or her knowledge and was given to induce the lender to grant the loan for which this
application was made and further states that no information which may relate to the credit
worthiness of the undersigned has been omitted. The undersigned authorized the Lender or its
agent to verify the information submitted herein with credit bureaus, employers and any
references listed in the application. The Lender may at his option, cancel any commitment or loan
granted if: this application contains any false or misleading information; in its opinion, the credit
investigation discloses any unsatisfactory credit record; the title examination discloses
unsatisfactory conditions which are not correctable within a reasonable time; the undersigned
has borrowed any portion of the investment or equity in the property not indicated in this
application; or any phase of new construction on the property is started before the Lender’s
security instrument has been recorded. I understand and give my approval to you to order a
credit report to help support this financing request so that compliance with The Fair Credit
Reporting Act is met. This application shall remain the property of this institution.
$
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By: ________________________________ Title: __________________________ Date: __________________
By: ________________________________ Title: __________________________ Date: __________________
By: ________________________________ Title: __________________________ Date: __________________
By: ________________________________ Title: __________________________ Date: __________________