Fillable Loan/Line of credit application

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Loan/Line of credit application

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Banking products and services are subject to bank and credit approval. BMO Harris Bank N.A. Member FDIC
©2021 BMO Harris Bank N.A. (05/21)
bmoharris.com
Business Loans
Loan/Line of credit application
Application checklists and addendums
Please use this form for applicants whose business has a physical location (or in the instance where the business has no physical location, a mailing
address for their headquarters located) in Illinois or Lake or Porter County in Indiana.
Please select and complete one of the following checklists to assist us with processing your lending application. Mark the checkbox for the checklist you use for
your application. All of the following information must be included with your application submission: 1) the completed and executed application (include all
pages of the document, including this page), 2) the completed checklist you selected, and 3) all information/supporting documents required in the checklist.
Additional documents may be requested.
Business Loan/Line of Credit Application Checklist (Use for non-Agricultural Lending requests)
Agricultural Lending Application Checklist
Please select and complete the following Business Credit Card Addendum if you wish to apply for a business credit card product and one of the following applies
to you: 1) Your total borrower commitment is over $100,000 or 2) you are a non-profit.
Business Credit Card Addendum - Please mark the checkbox and submit the completed addendum with your application submission.
All applications must be submitted for processing on the date the application is received from the applicant.
All Applicant and Guarantor signatures must be completed prior to submitting.
Submitting Banker name Date application received from applicant
Submitting Banker phone number
Segment (Retail, Business Banking, Premier, Private Bank) BUC number
Please submit for underwriting by e-mailing application and all required documentation to BPLC.DealSubmission@bmo.com or faxing to 705-719-1740.
FOR INTERNAL USE ONLY - SECTION MUST BE COMPLETED PRIOR TO SUBMISSION.
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bmoharris.com
Banking products and services are subject to bank and credit approval. BMO Harris Bank N.A. Member FDIC
©2021 BMO Harris Bank N.A. (05/21)
Please complete section A or section B below.
Application
B. BMO for Black & Latinx Businesses Credit Request
Line of Credit (Total bank exposure cannot exceed $50,000)
Amount requested Primary purpose of line of credit
By checking the box below, the business applicant is certifying that (1) at least fifty-one percent (51%) of the business is owned and controlled by individuals
that self identify as Black or Latinx and (2) the business has a physical location (or in the instance where the business has no physical location, a mailing address
for their headquarters located) in Illinois or Lake or Porter County in Indiana.
I certify that the business applicant meets the eligibility criteria listed above.
A. Standard Credit Request
Legal name of business
Address (Street address required, no P.O. Box) Phone Ext.
City State Zip
Email address
Email contact name
If applicable, please list all assumed business names under which the business does business.
Description of business Tax Identification Number (TIN)
Date business established Years under current ownership
Business bank name Non-BMO Harris total deposit balance
$
Gross annual sales (from most current tax return)
Business net income before taxes (from most current tax return)
$
$
Requests with total borrower commitment up to $50,000, please provide:
Interest expense (from most current tax return)
$
Depreciation expense (from most current tax return)
$
Type of business entity: Sole proprietorship
General partnership
S corporation
Corporation
Limited liability company
Limited partnership
Limited liability partnership
Non-profit
Other: _____________________
Business applicant debt (include all term loans, credit lines, commercial mortgages, credit cards used for business, etc. Use attachments if necessary.):
Amount of line or Do you plan to pay off this debt
Bank/Creditor Type of loan Current balance original loan balance Monthly payment Type of collateral with proceeds from this application?
Term Line
$
$
$
Yes No
Term Line
$
$
$
Yes No
Business Applicant information
1 of 4
Line of Credit* Standalone Letter of Credit (cash secured) Small Business Administration (SBA) Settlement Line (required for ACH or Currency)
Amount requested Primary purpose of line of credit
$
Term Loan Commercial Mortgage - Owner-Occupied Real Estate Small Business Administration (SBA) Construction Loan (Minimum Amount of $500,000)*
Amount requested** Term of loan Primary purpose of loan
$
* For a Committed Line of Credit ($100,000 - $1,000,000) or Construction Loan ($500,000 - $1,000,000), borrower must maintain a 12-month average deposit balance of ≥ $250,000.
** Minimum amount of $100,000 applies to non-real estate secured requests for Term Loan and SBA Term Loan products.
Disbursement Request and Authorization
Deposit loan proceeds to your BMO Harris checking account?
Yes No
If yes, please provide checking account number:
If requesting a line of credit, do you want this linked to a BMO Harris checking
account to provide Overdraft Protection? Yes No
If yes, please provide the checking account number:
Loan/Line of credit repayment information
Automatic payments:
Yes No*
If yes, please provide the information below:
Depository bank name Account number Routing number (please provide a voided check or deposit slip)
*Interest rates on loans/lines of credit without automatic payment from a BMO Harris account may be priced at a higher rate.
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bmoharris.com
Banking products and services are subject to bank and credit approval. BMO Harris Bank N.A. Member FDIC
©2021 BMO Harris Bank N.A. (05/21)
Owner/Guarantor Information (If more than one Owner intends to act as Guarantor, use additional copies of this page to complete the information section
and signature)
Please provide the following information on the individual or business who owns 25% or more of the business and will act as guarantor. Please enter your legal name as it
appears on your unexpired Driver’s License or state issued ID.
Owner/Guarantor Check box if applicable: Control Prong
1
(Identify only one individual) Ownership Prong
2
Business name (applicable only if a business other than the borrower will serve as guarantor)
First name M.I. Last name
Social Security Number/TIN Date of birth % Ownership
Residential address (Physical street address required)
City
State
Zip
Home phone
Cell phone
Occupation
Identification number Identification type (Driver’s license / State ID)
State of issuance Expiration date Date of issuance
Monthly mortgage Monthly rent Total other monthly payments
$
$
$
Annual real estate taxes and insurance Non-BMO Harris total deposit balance
(if included in the monthly payment mark “INC)
$
$
Personal income and financial statement
Annual salary from business for last year (from last tax return)
$
Other household income Source(s)*
$
Total income
$
* Please describe source of other income. Alimony, child support or separate maintenance
income need not be revealed if you do not wish to have it considered.
2 of 4
For Owner/Guarantor(s) residing in Arizona or Wisconsin, please check box if married
yes
Spouse’s name
Guaranty
A Guaranty must be signed by one individual or business that owns 25% or more ownership in the business or any individual or business that voluntarily agrees to guaranty the obligations of the Business to BMO.
The undersigned Guarantor(s) agrees that the Bank in its discretion may obtain a credit bureau report on the Guarantor(s) in order to evaluate the Guarantor’s credit worthiness and ability to meet its obligations
to the Bank and subsequently for any future purposes in connection with existing or contemplated extensions of credit to the Borrower, to the Guarantor(s) or to any other entity in which the Guarantor(s) is or is
expected to be a guarantor, owner, director, manager or officer. The Guarantor also agrees that the Bank may exchange information about the Guarantor and its obligations under this Application with Guarantor
references, other businesses (including affiliates of the Bank), any other Guarantor, and credit reporting agencies and may confirm any information provided by the Guarantor from any source it deems necessary
or appropriate. Receipt of an executed signature page to this Application by facsimile or other electronic transmission shall constitute effective delivery thereof. Electronic records of the executed Application
maintained by the Bank shall be deemed originals thereof.
Guarantor’s signature required (applicable only for the Business or individuals that will serve as Guarantor)
Print business name (applicable only if a business other than the borrower will serve as guarantor)
Print first name M.I. Last name
Guarantor’s signature (To be signed by the individual named above in the Owner/Guarantor section.)
x
Title (if applicable)
Date
1. Cash and equivalents
$
2. Investable assets
$
3. Retirement accounts
$
4. Residential real estate
$
5. Other assets
$
6. Total assets (add lines 1, 2, 3, 4 and 5)
$
7. Credit cards
$
8. Mortgages
$
9. Other liabilities
$
10. Total liabilities (add lines 7, 8 and 9)
$
11. Net worth (subtract line 10 from 6)
$
Authorized signer name
Authorized signer Social Security Number
Address (Street address required, no P.O. Box) Phone
City State Zip
Identification number Identification type (Driver’s license / State I.D.)
State of issuance Expiration date Date of issuance
Occupation
Date of Birth (MM/DD/YYYY)
Key leader(s)
Time with organization Are you affiliated with a national or parent entity?
Yes No
Number of donors or giving units
Total contribution for top 3 donors or giving units
$
$
$
Non-profit information only Check box if applicable: Control Prong
1
(Identify only one individual)
1
Control Prong: An individual with significant responsibility for managing the legal entity customer (e.g., a Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member,
General Partner, President, Vice President, or Treasurer)
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bmoharris.com
Banking products and services are subject to bank and credit approval. BMO Harris Bank N.A. Member FDIC
©2021 BMO Harris Bank N.A. (05/21)
3 of 4
Collateral securing the line of credit or term loan – Please describe the collateral in which you will grant BMO Harris Bank a security interest.
All business assets (includes accounts receivable, inventory assets and equipment assets), including but not limited to:
Real estate Commercial property Commercial Residential property (i.e. senior living facility)
Commercial Farm property
For Commercial Farm property (agricultural real estate), does any of the real estate being pledged include borrower’s primary residence?
Yes No
Do you have a mortgage on the property?
Yes No If yes, name of mortgage holder(s)
Purchase date Purchase price Outstanding balance Monthly payment Principal and interest Taxes and insurance Association fees Est. current value
$
$
$
$
$
$
$
Address City State Zip
Real Estate PIN In whose name is title held? Your relationship to title holder
BMO Harris certificates of deposit and savings account
Name of registered owner Value Date BMO Harris account number
$
BMO Harris marketable securities (Option only applicable for marketable securities held at BMO Harris. Retirement accounts are not eligible.):
Name of security Value Date Name of registered owner Investment account number
$
Other collateral options:
Vehicle (please provide copy of invoice if applicable):
Year Make Model Purchase price Title holder’s name New Used Purchase Refinance
$
Equipment (please provide copy of invoice if applicable):
Year Make Model Purchase price Title holder’s name New Used Purchase Refinance
$
Year Make Model Purchase price Title holder’s name New Used Purchase Refinance
$
All farm assets (including but not limited to growing crops, grain, feed, accounts receivable, equipment, livestock). Please detail, attach additional sheets if necessary.
Asset Value
$
$
Collateral information
Net accounts receivable Date
(excluding 91+days and receivables due from a related company)
$
Net equipment assets Date
$
Net inventory assets Date
$
Additional Owner Information
Please provide the following information on all other individuals or businesses who own 25% or more of the business and will not act as Guarantor. If more than one owner,
use additional copies of this page to complete the information section. Please enter your legal name as it appears on your unexpired Driver’s License or state issued ID.
Owner
Check box if applicable: Control Prong
1
(Identify only one individual) Ownership Prong
2
Business name (applicable for any business that is a 25% or more Owner)
First name M.I. Last name
Social Security Number/TIN Date of birth % Ownership
Residential address (Physical street address required)
City
State
Zip
Home phone
Cell phone
Occupation
Identification number
Identification type (Driver’s license / State ID) State of issuance
Expiration date Date of issuance
1
Control Prong: An individual with significant responsibility for managing the legal entity customer (e.g., a Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President,
Vice President, or Treasurer).
2
Ownership Prong: Each individual, if any, who owns, directly or indirectly, 25% or more of the equity interests of the legal entity customer (e.g., natural person that owns 25% or more of the shares of a corporation).
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bmoharris.com
Banking products and services are subject to bank and credit approval. BMO Harris Bank N.A. Member FDIC
©2021 BMO Harris Bank N.A. (05/21)
Agreements of applicant
“You” and “your” refer to the authorized person(s) signing this Application on behalf of the business. “Business” and “Applicant” refer to the business entity
applying for a BMO Harris Loan and/or Line of Credit. “BMO Harris” and “Bank” refer to BMO Harris Bank N.A. or its affiliated bank that reviews the Application
and offers a loan and/or line of credit to a qualified business. “Account” refers to the loan and/or line of credit approved by BMO Harris. On behalf of your
business and its owners/officers/ partners, you represent and warrant that by signing this Application (1) you are an authorized representative of the business
with authority to enter into contracts on behalf of the business; (2) you are authorized to enter into a credit agreement with BMO Harris and to borrow money
and (3) if approved, each loan will be for a business or commercial purpose only. You certify that the information provided on the Application is accurate and
complete. You agree to notify BMO Harris of any change to the information provided in this Application including beneficial ownership information (Control or
Ownership Prongs) for renewable financial products during any renewal period. You authorize BMO Harris to verify information and obtain other information from
credit reporting agencies and other third parties, including information about you, personally, and the Business that BMO Harris deems appropriate in considering
the request for credit and subsequently any future purposes in connection with existing or contemplated extensions of credit to the Business, to you or to any
entity in which you are an owner, director, manager or officer. You agree that any such information obtained by BMO Harris will remain the property of BMO
Harris whether or not credit is extended. You agree that the Application may be considered by BMO Harris for other BMO Harris business credit products at BMO
Harris’ discretion. You also agree that BMO Harris may exchange information about you and your obligations under this Application with your references, other
businesses, any Guarantor(s), and credit reporting agencies and may confirm any information provided by you. Receipt of an executed signature page to this
Application by facsimile or other electronic transmission shall constitute effective delivery thereof. Electronic records of the executed Application maintained by
the Bank shall be deemed originals thereof. Any obligation on the part of BMO Harris to enter into the BMO Harris Loan and/or Line of Credit with your Business
is subject to BMO Harris’ satisfactory completion of all of its credit and legal due diligence.
BY SIGNING THIS APPLICATION, THE APPLICANT AUTHORIZES BMO HARRIS BANK N.A. TO DEDUCT OR WITHDRAW FUNDS FROM THE APPLICANT’S DEPOSIT
ACCOUNT WITH BMO HARRIS BANK N.A. TO SATISFY (1) ALL AMOUNTS PAID BY BMO HARRIS BANK N.A. TO THIRD PARTIES DURING THE UNDERWRITING
PROCESS REGARDLESS OF WHETHER ANY LOAN DOCUMENTS ARE ENTERED INTO BY THE APPLICANT AND THE BANK AND (2) ANY AMOUNTS OWING UNDER THE
DISBURSEMENT REQUEST AND AUTHORIZATION FORM.
If Borrower is an Individual or Sole Proprietor, check one of the boxes below. If Box B is checked below (showing intent to apply for a joint account), each
co-applicant signs below and hereby affirms that they intend to apply for joint credit.
A. I am applying for an individual account in my own name and am relying on my own income or assets and not the income or assets of another person
as the basis for repayment of the credit requested. If a Wisconsin or Arizona sole proprietor or individual, I am relying on my own income or assets and
marital community property.
B. I am applying for a joint account or an account that another person and I will use.
C. I am applying for an individual account, but am relying on income from alimony, child support, or separate maintenance or on the income or assets of
another person as the basis for repayment of the credit requested.
Each of the undersigned hereby acknowledges and agrees to the above statements and authorizations.
Please provide signatures for fields marked with an X (if applicable).
Applicant’s signature(s) required
Print business name (if applicant is a business)
4 of 4
Title
Print first name M.I. Last name Date
Applicant’s signature
x
Title
Print first name M.I. Last name Date
Applicant’s signature
x
bmoharris.com
Banking products and services are subject to bank and credit approval. BMO Harris Bank N.A. Member FDIC
©2021 BMO Harris Bank N.A. (05/21)
NOTICES
Important information about procedures for opening a new account:
To help the government fight the funding of terrorism and money laundering activities, federal law (USA Patriot Act (Title III of Pub. L. 107 56 signed into law
October 26, 2001)) requires all financial organizations to obtain, verify and record information that identifies each person who opens an account. When you open
an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask you to provide a copy of
your driver’s license or other identifying documents. For each business or entity that opens an account, we will ask for your name, address and other information
that will allow us to identify the entity. We may also ask you to provide a copy of your certificate of incorporation (or similar document) or other identifying
documents. The information you provide in this form may be used to perform a credit check and verify your identity by using internal sources and third party
vendors. If the requested information is not provided within 30 calendar days, the account will be subject to closure.
Important notice if your loan or line of credit is to be secured by a first lien on a dwelling:
If your loan or line of credit is to be secured by a first lien on a residential structure that contains one to four units, we may order an appraisal to determine
the property’s value and charge you for this appraisal. We will promptly give you a copy of any appraisal, even if your loan does not close. You can pay for an
additional appraisal for your own use at your own cost.
Notice about sharing and use of personal information within the BMO Financial Group of Companies
BMO Harris Bank N.A. is providing this notice. BMO Harris Bank N.A. (“Lender”) may share with its affiliates in the BMO Financial Group of Companies information
about your transactions and experiences with Lender. You may not limit Lender’s right to share your transaction or experience information with its affiliates.
Lender may share with its affiliates in the BMO Financial Group of Companies information that you supply on account applications, such as your income, and
information Lender receives from third parties about you, such as your credit score. You may instruct Lender not to share this information with its affiliates. You
may limit Lender’s affiliates, including brokerage, securities and investment advisory affiliates, from marketing their products and services to you based on
personal information about you that they receive from Lender. This information includes your income, your account history, and your credit score. Your choice to
limit marketing offers from Lender’s affiliates will apply until you tell Lender to change your choice. State laws may give you additional rights to limit sharing.
See below for more information on your rights under state laws. To instruct Lender that you do not want Lender to share certain information about you or to limit
marketing offers to you from Lender’s affiliates, you must contact Lender at 1-888-654-0063 or visit any BMO Harris Bank branch. Your choices will apply to you
only unless you tell us otherwise.
The terms “you” and “your” means each Borrower and/or Guarantor who is an individual. The term “affiliates” means companies related to Lender by common
ownership or control. These companies can be financial or non-financial companies. Lender’s affiliates include companies with a Bank of Montreal or BMO name
and financial companies such as BMO Harris Financial Advisors, Inc.
State Law Information
For California Residents: We will not share information we collect about you with companies outside of the BMO family of companies except with your
authorization or as permitted by California law, such as to service your account. To authorize the sharing of this information, please call us toll-free at
1-888-654-0063. In addition, we will limit the sharing of information about you within the BMO family of companies to the extent required by California law.
For Vermont Residents: We will not disclose information about your creditworthiness to our affiliates and will not disclose your personal information, financial
information, credit report, or health information to nonaffiliated third parties to market to you, other than as permitted by Vermont law, unless you authorize us
to make those disclosures. Additional information concerning our privacy policies can be found at www.bmoharris.com/us/about/privacy or call us toll-free at
1-888-654-0063.
For Nevada Residents: Notice provided pursuant to state law. To be placed on our internal Do Not Call List, call 1-888-654-0063. For more on this Nevada law,
contact Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington St., Suite 3900, Las Vegas, NV 89101. Phone number:
1-702-486-3132; email: BCPINFO@ag.state.nv.us.
US001084
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LoanLine of credit application

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Completed 6 July 2021

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