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#2260054 - 09/22/21 03:22 PM Commercial Loan Disclosure
Anonymous
Unregistered

Does anyone have a sample disclosure for a Commercial Loan application? Thank You.

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#2260056 - 09/22/21 03:38 PM Re: Commercial Loan Disclosure Anonymous
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
Disclosure? What disclosure?
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2260058 - 09/22/21 03:42 PM Re: Commercial Loan Disclosure Anonymous
Anonymous
Unregistered

See the below commercial loan disclosure.


Disclosure about Internet submissions
If you choose to submit the Commercial Loan Application over the Internet, you acknowledge that the use of the Internet and e-mail is not secure or encrypted for your security and privacy, and your confidential personal and business information submitted on the Application may be intercepted and misused by a third party. By submitting the Application using the Internet you agree that Bank shall not have any liability related to the loss, interception or unauthorized use of your business or personal information so submitted with the Application.

Any willful misrepresentation on the statement could result in a fine and/or imprisonment under provision of the U.S. Criminal Code. All fees in association with this loan shall be deemed fully earned and nonrefundable by the lender.

Disclosure about income from alimony, child support, or separate maintenance
Alimony, child support, or separate maintenance income need not be revealed if you do not wish to have it considered as a basis for repaying this obligation.


Disclosure of Right to Request Specific Reason for Credit Denial
If your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please contact us within sixty (60) days from the date you are notified of our decision. We will send you a written statement of reasons for the denial within thirty (30) days of receiving your request for the statement. Please include the following information: your name, the type of loan applied for, the branch where the application was made, and the action taken on your application.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.


What this means: When you open an account, we will ask you for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

Certification
I/We hereby apply for the loan or credit described in this application on behalf of the applicant business. I/We certify that I/we did not omit any important information. I/We agree that any property securing the loan or credit will not be used for any illegal or restricted purpose. Lender is authorized to verify with other parties and to make any investigation of my/our credit, either directly or through any agency employed by the Lender for that purpose. Lender may disclose to any other interested parties’ information as to Lenders' experiences or transactions with my/our account. I/We understand that Lender will retain this application and any other credit information Lender receives, even if no loan or credit is granted. These representation and authorizations extend not only to Lender, but also to any insurer of the loan and to any investor to whom Lender may sell all or any part of the loan. I/We further authorize Lender to provide any such insurer or investor any information and documentation that they may request with respect to my/our application, credit or loan. I/We understand that Lender will request additional information and documentation that is required to complete this application.
Signature (Applicant/Owner/Guarantor)

Required: Signature must be re-entered every time you send to your lender.
Date Signed

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#2260061 - 09/22/21 03:45 PM Re: Commercial Loan Disclosure Anonymous
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
Talk to your legal counsel. None of that is specifically required.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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