Provide financial information to potential lender: Business Loan Application
Other Names:
Small Business Loan Application
Business Loan Application Form
What is a Business Loan Application?
You may need extra funds to help your business grow. Or perhaps you're a lender. A Business Loan Application provides the information to a potential lender so that they can decide whether to make a loan. A Business Loan Application Form can help everyone move the process along, and ensure that all the necessary terms are covered.
Understanding how to get a Business Loan is vital for both borrowers and lenders. It details the general operations of the business, the principal owners and managers, the amount and type of loan requested, and repayment terms. Optional provisions include the listing of guarantors of the loan and references regarding past credit transactions. Getting a business loan with this loan application format may additionally produce a separate letter allowing the lender to verify information provided in the application.
Understanding how to get a Business Loan is vital for both borrowers and lenders. It details the general operations of the business, the principal owners and managers, the amount and type of loan requested, and repayment terms. Optional provisions include the listing of guarantors of the loan and references regarding past credit transactions. Getting a business loan with this loan application format may additionally produce a separate letter allowing the lender to verify information provided in the application.
When to use a Business Loan Application:
- You wish to apply for a business loan.
Sample Business Loan Application
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BUSINESS LOAN APPLICATION
Re: Loan Application
In an effort to obtain a loan from your institution, the undersigned present(s) the following information as an application for an extension of credit. If you have any additional questions or need further information to supplement this application, please feel free to call the undersigned at your convenience.
| Name of Business: |
| Contact person: |
| , |
| Phone: Ext.: |
| Type of Organization: |
| Nature/Line of Business: |
Key Owners/Officers:
| Name: |
| Title: |
| Address: |
| , |
| Phone: Ext.: |
| Length of time in business: |
| Time under current management: |
| Owner's cash or other equity invested: |
Current Loan Request
| 1. Amount of loan: |
| 2. Type of loan: |
| 3. Interest rate: | % |
4. Term:
a. Beginning date:
b. Number of payments:
5. Repayment schedule:
The purpose for the loan request:
| Source of repayment: |
| Available collateral: |
Guarantor(s):
Borrowing History
| Other Lender: |
| Address: |
| , |
| Phone: |
| Date of loan: |
| Amount borrowed: |
| Current balance: |
| Business Plan: |
References
| Name: |
| Address: |
| , |
| Phone: |
| Relationship: |
This Application is signed on behalf of by , .
| By: | Date: |
