Business Loan Checklist Real Estate

Transcription

1 Pacific NW Federal Credit Union is a local, not-for-profit financial cooperative. Our job is to turn your possibilities into realities. We offer financing for a variety of business use properties. Business Loan Checklist Real Estate Thank you for your interest in a Business Loan. This checklist has been provided to assist you through the process of gathering the necessary information for the evaluation of your loan request(s). Complete information will ensure proper evaluation of your request. Please provide the following information (as applicable): Business Loan Application & Questionnaire Environmental Questionnaire 3. Individual Financial Statement for all Individuals with an ownership interest >10% years Business & Individual Federal Tax Returns, all schedules Business Income Statement for the most recent month-end / year-end Thank you for the opportunity to assist you with your financial needs. If we may be of any further assistance, please contact us at: Portland Toll-free Business@pnwfcu.org

2 BUSINESS LOAN APPLICATION FOR CREDIT UNION USE ONLY Principal Loan Date Maturity Loan No. Customer No. Credit Union Amount CU Officer FOR APPROVALS ONLY Initials Applicant Information Credit Union Name Street Address Pacific NW Federal Credit Union City 12 State Zip Code Portland, OR Mailing Address City Portland area State Zip Code Federal Tax Number TIN/SSN Applicant s Telephone Number APPLICANT PROPOSED CREDIT FACILITY: Proposed Loan Terms Loan Amount $ Interest Rate: Fixed Variable Loan Term (Months or Years) No Preference BUSINESS PURPOSE OF LOAN: Type of Collateral Titled Automobile Van Short Haul Truck Long Haul Truck Trailer Ship Aircraft Other, Please Specify: Possessory Share Savings/CD s Stocks and/or Bonds Notes/Instruments/Chattel Paper Warehouse Receipts/Bills of Lading Letters of Credit Life Insurance Other Pledged Collateral UCC Collateral Accounts Receivable Inventory Chattel Paper Equipment General Intangibles Fixtures Crops Farm Products Livestock Farm Equipment Wraparound UCC filing on all business assets Other UCC Collateral: Real Estate Commercial Owner Occupied Commercial Non-Owner Occupied Income Property Commercial Income Property Retail Income Property Residential Primary Residence Vacation Home Condominium Other Real Estate: Other Collateral or Description: Payment Type Installment Payments Single Payment Interest Only With a Balloon Payment Installment Payments With a Balloon Payment PROPOSED REPAYMENT SCHEDULE: Seasonal Payments Step Up Payments (Smaller to Larger) Step Down Payments (Larger to Smaller) Non-Revolving Line of Credit Revolving Line of Credit Other, Please Specify Revised: Page No. 1

3 BUSINESS LOAN APPLICATION INFORMATION REGARDING YOUR BUSINESS: TYPE OF ORGANIZATION Profit C-Corporation Profit S-Corporation Not-For-Profit Corporation DESCRIPTION OF BUSINESS: Professional Corporation Limited Liability Company Professional Limited Liability Company Limited Liability Partnership General Partnership Limited Partnership Joint Venture Individual Sole Proprietorship Trust Other, Please Specify: Official Legal Name: DBA Name (if any): STATE OF ORGANIZATION: QUALIFIED TO DO BUSINESS IN THE FOLLOWING STATES: IF TYPE OF ORGANIZATION IS AN INDIVIDUAL, A SOLE PROPRIETORSHIP, OR A TRUST, NAME(S) AND ADDRESS(ES) OF OWNER(S) PRIMARY RESIDENCE(S): Please attach copies of: For Corporations, Articles of Incorporation, For a Limited Liability Corporation, the equivalent certificate, or For a Partnership, a Certificate of Partnership if the partnership is registered in any state (if applicable). Limited Liability Corporation s Operating Agreement (if applicable) Partnership Agreement (if applicable) TRADE STYLES OR OTHER NAMES UNDER WHICH WE DO OR HAVE DONE BUSINESS: REGISTERED ASSUMED BUSINESS NAME FILINGS (Furnish copies of the assumed business name filings or certificates for each name, along with proof of publications, if applicable.) Principal Place of Business: Same as applicant street address Different address, please specify: Location of Accounting Books and Financial Records: Same as applicant street address Different address, please specify: PROPOSED GUARANTOR(S) (Specify Relationship to Applicant): Guarantor(s) Address Relationship GUARANTOR(S) FINANCIAL INFORMATION ATTACHED: Attached Not Attached Please attach copies of: Date or Period Ending Individual Financial Statement(s) Federal Tax Return(s) Share Account Statement(s) I (we) hereby affirm that the foregoing information contained in this member business loan application is presented for the purpose of obtaining credit as of the date indicated and is true, complete and correct. I understand Credit Union is relying on this application in making loan(s) to me. Credit Union or its designee is authorized to make any investigation of the credit of the applicant(s), business owner(s) and/or guarantor(s) either directly or through any agency employed by Credit Union for that purpose now and in the future. Credit Union may disclose to any other interested parties Credit Union s experience with this account. I agree to inform the Credit Union immediately of any matter which will cause any material change to my financial condition. I understand that Credit Union will retain this application whether or not credit is granted. Applicant Applicant By By Date By By Date Revised: Page No. 2

4 BUSINESS QUESTIONNAIRE Company Name APPLICANT COMPANY INFORMATION Phone Address City State Zip Type of Business Organized as Date Established OWNERSHIP OF APPLICANT COMPANY List all officers, directors, partners, owners & co-owners, and all stockholders with 20% or more of total stock issued (use additional sheet if needed): Name Title % of Ownership OWNERSHIP OF AFFILIATE COMPANY List all business concerns in which the applicant company or any of the individuals listed in the Ownership Section above have an ownership interest of 20% or more (use additional sheet if needed): Company Name Owner % of Ownership Describe the nature of this transaction: HISTORY OF BUSINESS What types of products/services does Applicant Company provide: Describe any past accomplishments: What are the future plans for growth/expansion: How will this loan benefit the Applicant Company: Will the funding of this loan create employment opportunities: If yes, explain in detail:

5 Addendum to Business Application Schedule of Business Debts Creditor/Payable To Monthly Minimum P&I Payment Balance Due Collateral

6 INDIVIDUAL FINANCIAL STATEMENT Member Name(s) STATEMENT OF FINANCIAL CONDITION OF MEMBER MEMBER & SPOUSE. AS OF, ASSETS AMOUNT LIABILITIES AMOUNT CASH In this Credit Union NOTES & LOANS (No Notes Payable to Credit Unions Real Estate) Other Credit Unions or Banks STOCKS & INSURANCE Marketable Securities BONDS Others Other LOANS Notes & Loans Payable to Others TAX Tax Refund Due TAXES DUE Taxes Payable INSURANCE Cash Value ACCOUNTS & Credit Card Accounts BILLS PAYABLE NOTES RECEIVABLE REAL ESTATE OTHER ASSETS Accounts & Notes Receivable Residence(s) Unimproved Land Income Properties Other Real Estate Other Assets & Personal Property REAL ESTATE NOTES & CONTRACTS PAYABLE OTHER LIABILITIES Open & Revolving Accounts Other Residence(s) Unimproved Land Income Properties Other Real Estate Other Liabilities TOTAL ASSETS: $ TOTAL LIABILITIES: $ NET WORTH: (DIFFERENCE BETWEEN TOTAL ASSETS & TOTAL LIABILITIES) $ RE-CAP OF INCOME AND EXPENSES *See notice below before completing Other Income. ANNUAL INCOME FOR YEAR 20 ANNUAL EXPENSES FOR YEAR 20 CONTINGENT LIABILITIES Salary or Wages Property Taxes & As Endorser on Assessments Notes/Contracts Dividends and/or Interest Rentals (Gross Income) Business (Net Income) Other Income (Describe) Federal & State Income Taxes Real Estate Loan Payments Contract/Note Payments Living Expenses (Estimated) As Guarantor on Notes/Contracts For Taxes Other contingent Liabilities: Other Expenses TOTAL INCOME $ TOTAL EXPENSES $ TOTAL CONTINGENT LIAB. $ *Alimony, child support or separate maintenance payment income need not be revealed if you do not wish to have it considered as a basis for repaying this obligation I (we) hereby affirm that the foregoing information contained in this financial statement is presented for the purpose of obtaining credit as of the date indicated and is true, complete and correct. I understand the Credit Union is relying on this statement of my financial condition in making loan(s) to me. Credit Union or its designee is authorized to make any investigation of my credit or employment status either directly or through any agency employed by the Credit Union for that purpose now and in the future. Credit Union may disclose to any other interested parties Credit Union s experience with this account. I agree to inform the Credit Union immediately of any matter, which will cause any material change to my financial condition. I understand that Credit Union will retain this financial statement whether or not the credit is granted. Applicant s Signature: Date: Co Applicant s Signature: Date:

7 Environmental Questionnaire This form is to be completed by the current owner of the real property being financed. This document will become part of the loan application for (Applicant/Buyer). 1. General Information A. Business Address: Brief Legal Description: B. Name of current property owner: C. Type of business currently operating on the premises. SIC/NAICS code if known 1. Personal Services 5. Health Services 2. Manufacturing 6. Educational Services 3. Transportation 7. Engineering & Management 4. Retail Trade 8. Other: D. Type of business to be operated on the premises. SIC/NAICS code if known: (Only where applicant is not the current operator or tenant) 1. Personal Services 5. Health Services 2. Manufacturing 6. Educational Services 3. Transportation 7. Engineering & Management 4. Retail Trade 8. Other: E. Historic use of the property (Check all that apply) SIC/NAICS code if known: 1. Personal Services 5. Health Services 2. Manufacturing 6. Educational Services 3. Transportation 7. Engineering & Management 4. Retail Trade 8. Other: F. Did this property have, or will it have, underground storage tanks in use? Yes No Unknown as to past use G. Environmental Permits Current ownership has current permits Type of permit(s): Current owner/tenant had permits Reason for no longer having permit(s): Current owner/tenant has applied for permits Type of permit(s): H. Is the owner/tenant aware of any notices of violations, or correspondence with governmental agencies, or internal correspondence regarding the release, threat of release, or cleanup of hazardous substances at this property? Yes No Unknown

8 I. Type of business currently operating on property adjacent to applicant business (Check as many as apply). SIC/NAICS codes if known: 1. Personal Services 5. Health Services 2. Manufacturing 6. Educational Services 3. Transportation 7. Engineering & Management 4. Retail Trade 8. Other: J. Has an environmental audit of this property ever been conducted? Yes No Unknown If Yes, Date: By Whom? 2. Information regarding hazardous substances (Please provide snapshots of the property) A. Are there currently chemicals, fuels, pesticides or waste products on this property? (Check as many as apply) Yes No Stored in Tanks Stored in Drums Disposed of directly on the property or adjacent sites Stored or disposed of in surface impoundments, pits, landfills, ponds, lagoons or piles B. Is there now or has there been any system of underground disposal (e.g. Septic tanks) at this property? Yes No Septic Tank Other : C. If you answered Yes to having chemicals, etc. currently on the property, have there been any accidental spills? Yes (If yes, what was the name(s) of the chemical(s), etc. which spilled?): No Unknown as to past usage D. If you answered Yes to having chemicals, etc. currently on the property, what is the current practice for disposal of the used solvents, oils, metal savings, plating solutions, etc? Signature Print Name: Date The following information is provided to assist you in identifying the situations indicative of contamination: 1. Evidence that chemicals, fuels, solvents, pesticides, herbicides, oils, etc. are used on the property. 2. Discarded chemical containers. 3. Waste piles of any type. 4. Evidence of distressed vegetation or areas upon which there is no vegetative growth. 5. Oily films on standing water. 6. Discolored soils. 7. Unusual odors. 8. Lapsed or withdrawn environmental permits. 9. Common Hazardous substances are: Solvents *De-greasers *Asbestos *Paint or ink waste or thinners *Ignitable materials *PCB fluids *Pesticides *Any kind of vehicular fuel *Materials containing arsenic, barium, mercury, cadmium, lead, chromium, selenium, and silver *Acid or base solutions Hydraulic fluids or coolants Used Oils