Business/Commercial Lending Forms

Chances are, some members of your credit union own their own business. If so, they need to be aware of the commercial lending services offered by your credit union. Business loans are always helpful in growth phases. Money can free up cash flow, giving time for the growth to take root and generate profit.

Oak Tree’s Business and Commercial Lending Forms Package contains everything you need to provide your members with a business loan to suit the needs of their company.

The Business Lending Forms Package includes the following forms:

Business Services Application

Used to document the company’s legal status, principals and/or owners of record, banking relationships, trade references, and types of services applied for.

Business Account Agreement

Used to open a commercial share or share draft account and in addition, may be used to document the company’s legal status, principals and/or owners of record and types of services applied for.

Continuing Guaranty

Used to establish liability of a guarantor in a commercial setting wherein a creditor wishes to obtain the guaranty of individuals who ordinarily would not have any personal liability, such as when lending to a corporation.

Corporate Resolution to Borrow

Used to obtain and document a formal authorization of the Board of Directors for the corporation to borrow money and obtain credit from the credit union.

Partnership Borrowing Authorization

Used to obtain and document a formal representation of the partners that they are the only partners and that such a partnership is authorized to borrow money and obtain credit from the credit union.

Resolution of Limited Liability Company

Used to obtain and document a formal authorization of the members, or managing members, for the company to borrow money and obtain credit from the credit union.

Personal Financial Statement

Used to obtain a complete list of assets and liabilities for an individual that will be required to guarantee the transaction.

Business Line of Credit Agreement

Used to establish and document the terms and conditions of a commercial, fixed, or variable rate open-end line of credit.

Security Agreement

Used to take a security interest in any personal property, that is pledged as collateral for commercial credit.

Promissory Note and Business Loan Agreement

Used to establish and document the terms and conditions of a commercial, fixed, or variable rate closed-end loan.

Affidavit of Loan Purpose

Used to document the borrower’s statement made under the penalty of perjury, that the loan proceeds are to be used for a specific purpose.

Disbursement Request and Authorization

Used to document each request, and the intended use, of an advance under a closed- or open-end commercial loan or line of credit.

Agreement to Furnish Insurance

Used to document, disclose to, and obligate the borrower to obtain and maintain property insurance on the collateral.

Commercial Mortgage/Deed of Trust

Used to obtain a valid security interest in commercial real property, any personal property, or fixtures situated, located, or affixed to the real property, together with an assignment of leases and rents.