BUSINESS LOAN APPLICATION
LOAN APPLICATION PROCEDURES
1. Complete the application and return it with any readily available information that you
believe might be helpful in allowing GBH Private Bank to understand how you are
proposing to put together your project and how our loan funds will be used within your
project. The types of information that we are looking for are financial information about
you, your organization and/or project (project budget and at least one or two years’ prior
financial information). A work plan for how the money will be used, detailing any other
sources of funds and who will be responsible for doing the work.
2. The staff committee will review any material that you have submitted to determine
whether your project qualifies or whether the project falls within our range of capability. If
your project is not eligible or there is not sufficient money in our loan Fund at this time to
cover your request, you will receive a letter explaining why your request was denied. If
your project is eligible and we have sufficient funds, you will be contacted and asked to
submit any additional information needed to complete your application. Material prepared
for any other purpose, which contains the requested information, is acceptable as long as
you highlight the section that is answering one of our questions and identify which
question this addresses.
3. The GBH Private Bank Loan Committee will review your application and will approve the
loan, deny the loan, or may ask for additional information.
4. A loan agreement is issued by the GBH Private Bank stipulating the terms and conditions
of the agreement and requires a signature within a specified amount of time. If GBH
Private Bank agrees to provide only a portion of the funds that are needed and the
remaining funds need to be secured from another source, we will provide a commitment
letter that is time limited to allow you to mobilize the rest of the funds that are needed.
5. Preparation of documents for closing. GBH Private Bank will provide a Loan Agreement
and a Promissory Note. When there is collateral to secure the loan, we request that your
attorney prepare the necessary security instruments for our review and approval. In
some cases exceptions may be made to this policy.
6. Closing will occur as soon as all conditions in the Loan Agreement have been satisfied
and the appropriate documents have been prepared.
LOAN APPLICATION CHECK LIST
ADDITIONAL INFORMATION AND DOCUMENTATION MAY BE REQUIRED FOR FINAL LOAN APPROVAL AND CLOSING
REQUIRED OF ALL APPLICANTS:
Completed Loan Application
Written Business PlanResumes from owners and key managers, with emphasis on industry experience and management background.
Written description of the project, including details on how the project will benefit your business. Please include number and type of current full-time-equivalent jobs now and two years after project completion.
Proposed project amount and break down of project costs: land, building, equipment, working capital, etc. For construction projects, include initial cost estimates from contractor. Please indicate the amount and source of cash from the business or the owners that will go into the project.
Financial Projections— for at least 1 year by month (Income Statement, Balance Sheet, Cash Flow and list of key assumptions)
Personal Financial Statements (current within 30 days from everyone who owns 20% or more of the business)
Personal Income Tax Return (past 3 years from everyone who owns 20% or more of the business)
Copy of Personal ID or Passport
If any of the owners also owns 20% or more of another business:List and explanation of ownership
Business tax returns for the past two years
Financial statements current within 60 days
EXISTING BUSINESSES ARE ALSO REQUIRED TO PROVIDE:
Business Financial Statements including Income Statement, Balance Sheet, and Cash Flow (current within 30 days and from the past two years)Please attach a separate sheet that shows details on all business loans- lender, original date, collateral, interest rate, length of loan, monthly payments. This includes all owner notes to the business. Also include a summary aging of accounts receivable and payable.
Business Income Tax Returns (past 3 years)
Copy of Certificate of Incorporation, Bylaws and Business Licences
Written history of the business- include details of how the business was started, type of products and customers, marketing and competitionBUSINESS LOAN APPLICATION AGREEMENT
Between
GBH Private Bank Ltd And
____________________________of (address)__________________________________________
The loan applicant, including all individuals, partners, partnerships, corporations, limited liability companies, and other affiliated entities, is hereinafter referred to collectively as “Client.”
1. Loan Application
Client agrees to promptly and accurately supply all information requested in the loan application. However, additional information beyond that listed in the loan application may also be required by GBH Private Bank, depending upon project circumstances. Client understands and agrees that a loan cannot be considered if Client does not provide GBH Private Bank with all requested information.
2. Project Financing
GBH Private Bank will seek financing for Client if it determines, in its sole discretion, that Client’s project is within GBH Private Bank eligibility criteria, the project is likely to be approved by the appropriate governing body(s), and other elements of the complete project can also be financed.
3. No SCOEDD Liability
Project financing is dependent upon many factors which GBH Private Bank cannot control. Accordingly, GBH Private Bank does not promise that Client will obtain a loan. Client agrees that GBH Private Bank shall not be responsible in any manner or liable to the Client or any other person in the event that financial assistance is not obtained from GBH Private Bank or from any private or public financing sources.
4. Loan Fees
If a loan is approved, Client agrees to pay GBH Private Bank a loan fee equal to one and one-half percent (1.5%) of the loan amount, due at loan closing if the loan from the Export Bank. If the loan is directly from the GBH Private Bank, the loan application fee is 200 USD.
5. Business and Credit Information
Client agrees that GBH Private Bank may receive confidential business, financial and credit information about Client from financial institutions, credit reporting agencies, or other sources. GBH Private Bank agrees that all confidential information received will be held in confidence and not divulged to persons or agencies other than prospective lenders or guarantors, Client’s attorney and accountant, and other persons designated by Client. However, this is subject to UK laws relating to disclosure of certain information by public agencies.
6. Change of Circumstances
Client agrees to notify GBH Private Bank immediately in writing of any materially adverse change in Client’s financial or other conditions since the date of application. The absence of such notification shall be considered a continuing statement that no such adverse change has occurred.
7. Voluntary Discharge
Notwithstanding the provisions above, Client agrees to allow GBH Private Bank to disclose the following information upon loan approval: business name, general project description, city where project is located, loan amount, total project amount, and the number of jobs expected to be created or retained as a result of the project.
By signing below, Client concurs with all the terms and conditions of this “Business Loan Application Agreement.” Client certifies that the persons signing on behalf of Client are authorized to do so by the individuals, partnerships, partners, corporations, limited liability companies, or other entities that are to be assisted under this agreement.
BUSINESS LOAN APPLICATION
GENERAL INFORMATION SHEET
The application will be complete for processing when the information sheet, supporting attachments
(included in the check list), lender commitments and application fee are received by the GBH Private Bank
Limited Loan Committee
Staff is available to meet in a pre-application conference to discuss loan requests if applicant desires. If
additional room is needed to answer a question, please attach an additional sheet and label accordingly.
I. Borrower Information
Company Contact Title Telephone
Name of Business
Street Address
City Zip County
Email address
_
Corporation_
LTD_
Government Body_
Partnership_
PLC_
Charity_
LLC Corporation_
Nonprofit Corp_
OtherDate Established __________________________________________________________________________________ Date Incorporated _________________________________________________________________________________ Country of Incorporation ____________________________________________________________________________ Registered Number ________________________________________________________________________________ VAT Registered Number ____________________________________________________________________________
II. Company Principals
Proprietor, partners, officers, directors and all holders of outstanding stock- 100% of ownership must be shown.
Name+Surname, Title and Personal ID or Passport No.: * % Owned Date of Birth
Name+Surname, Title and Personal ID or Passport No.: * % Owned Date of Birth
Name+Surname, Title and Personal ID or Passport No.: * % Owned Date of Birth
Passport is preferred. If no passport please submit ID number.
III. Purpose of Loan
A. Use of Proceeds Project Costs
Land Acquisition $______________________
Building Acquisition $______________________
Equipment Acquisition $______________________
New Construction $______________________
Renovation $______________________
Working Capital $______________________
Product Inventory $______________________
Other (specify) $______________________
Total $______________________
Please be specific about proposed uses of loan proceeds
B. Sources of Financing: Please attach copies of commitment of each source of financing.
Name of Lender Purpose Amount Rate Term
______________________ ______________________ _______________ _______________ ________________ ______________________ ______________________ _______________ _______________ ________________ ______________________ ______________________ _______________ _______________ ________________ ______________________ ______________________ _______________ _______________ ________________
IV. Guaranties Offered
Identify personal and corporate guaranties:
__________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ (if no guarantee, you can apply for Foreign Guarantee Insurance Scheme) Yes I/we apply for the FGIS
V. Employment Information
A. Current and projected (at the end of two years) employees in various job categories.
Current # Average Wage Rate Projected # Average Wage Rate Managerial __________ _______________ __________ _____________ Office _________ _______________ __________ _____________ Sales _________ _______________ __________ _____________ Tech/Professional __________ _______________ __________ _____________ Production __________ _______________ __________ _____________ Other __________ _______________ __________ _____________
B. Projected number of new full-time employees (FTE) positions created or saved as a result of assistance.
Created Saved
First Year _____________________ _____________________ Second Year _____________________ _____________________ Third Year _____________________ _____________________
VI. Business Affiliations
BankerName __________________________________________________________________________ Address __________________________________________________________________________ Phone __________________________________________________________________________ E-mail __________________________________________________________________________ Years of Affiliation __________________________________________________________________________
Attorney
Name __________________________________________________________________________ Address __________________________________________________________________________ Phone __________________________________________________________________________ E-mail __________________________________________________________________________ Years of Affiliation __________________________________________________________________________
Accountant
Name __________________________________________________________________________ Address __________________________________________________________________________ Phone __________________________________________________________________________ E-mail __________________________________________________________________________ Years of Affiliation __________________________________________________________________________
NOTICE
The Following information is requested by the Law and our Loan Committee. You are not required to furnish this information, but are encouraged to do so. This information will not be used in evaluating your application or to discriminate against you in any way.
Please check the category which applies to you:
CHECK YES OR NO TO THE FOLLOWING QUESTIONS:
1. Are you or your business involved in any pending lawsuits? Yes No 2. Has applicant or any officer of the applicant ever been in receivership or
adjudicated as bankrupt? Yes No
3. Have any owners of the business ever been arrested or convicted for any
criminal offense other than a minor vehicle violation? Yes No 4. Have you previously received financing from GBH Private Bank or Export Bank? Yes No 5. Is any owner or officer of the company, or members of your immediate
families, currently employees of the GBH Private Bank or Export Bank? Yes No 6. Are all owners of the business U.S. or EU citizens? Yes No
If you answered "YES" to question 1, 2, 3, 4, or 5 please explain:
__________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________
If you answered "NO" to question 6 please explain:
__________________________________________________________________________________________________
Applicant_______________________________________________________________________
List all collateral that may be used as security for this loan
Section I.- Real Estate
If available, attach a copy of the deed(s) containing a full legal description of the land and show the location (street address) and city where the deed(s) is recorded. Following the address below, give a brief description of the improvements, such as size, type of construction, use and present condition (use additional sheets if more space is required).
Address Year
Acquired Original Cost (USD)
Market Value (USD)
Amount of Lien (USD)
Name and Address of Lien holder
Section II.- Personal Property
All items listed herein must show manufacturer or make, model, year, and serial number. Items with no serial number must be clearly identified (use additional sheets if more space is required).
Description- show manufacturer, model, Serial # Year
Acquired Original Cost (USD)
Market Value (USD)
Current Lien Balance
(USD)
Name of Lien holder
Loan Application Supporting Information Checklist
The following lists outline the kinds of information that we will be looking for in order to make a decision about your loan
request. Not all of these things will apply to you. Please send us any of the following that you have and we will work with you to
complete any missing pieces. Please feel free to send material that you have prepared for other purposes and highlight and label the
sections that respond to items listed below.
A. Organizational Information
Description of legal and organizational structure
Membership information (eligibility criteria, number of current members, extent to which they are representative of the community)
Description of staff and management
History of the organization and of key people in it, including brochures and/or press clippings
Description of current programs
Account of real estate holdings
Account of other assets
Account of current indebtedness
Operating budget for at least the current year
Financial statements for the previous two or three years
Statement of sources of funding
If incorporated, a copy of the Articles of Incorporation, Bylaws, and Certificate of Incorporation
B. Project Information
Description of project and the development team
Explanation of who, and how many, will be served, and the level of their need
Explanation of how the project relates to ongoing development efforts
Ultimate ownership or management plan for the project
Business or development plan, with timeline
Project budget
List the sources and uses of money for the development of the project and note which are in-hand, which are conditional and which are
uncommitted. Please discuss particular challenges of this project and an account of any unsuccessful efforts to get financing from other
sources.
