Business Advance Forms

Business Advance Agreement

This Business Advance Agreement (the Agreement) is entered into between the parties identified below as of the Effective Date set forth in the signature block. The parties covenant and agree as follows.

Parties

Corporation LLC Partnership Sole Proprietor Other

Corporation LLC Partnership Sole Proprietor Other

Recitals

WHEREAS, Lender is in the business of providing short-term advances and credit accommodations to commercial entities; and

WHEREAS, Borrower has requested and Lender has agreed to make an advance to Borrower for legitimate business purposes under the terms and security provisions set forth in this Agreement;

WHEREAS, the parties desire to set forth the terms of the advance, repayment obligations, and related covenants in this written Agreement.

Scope of Work / Use of Funds

Borrower shall use the advance strictly for the business purpose described below. Borrower represents that the stated use is a bona fide business need and not for personal, family or household purposes.

Payment Terms

Advance Amount: $   Interest Rate: (annual, simple interest)

First Payment Due:

Late Payment Fee: — borrower shall pay the late fee for any installment not received within days after the due date.

Prepayment: Permitted without penalty Permitted with penalty If a penalty applies, describe:

Term and Termination

Term Commencement Date:

Scheduled Termination Date:

Early Termination: Either party may terminate this Agreement for material breach after providing written notice and an opportunity to cure of days. Termination does not relieve Borrower of accrued repayment obligations nor Lender's rights to enforce security interests.

Confidentiality

Each party shall maintain in confidence all nonpublic financial and business information disclosed by the other party in connection with this Agreement. Confidential information shall not be disclosed to third parties except as required by law, regulatory authority, or to the party's professional advisers who are bound by confidentiality obligations. The confidentiality obligations shall survive termination of this Agreement for years.

Default and Remedies

Borrower shall be in default upon failure to make any payment when due, insolvency, material misrepresentation, or breach of any material covenant. Upon default, Lender may declare the entire unpaid balance immediately due and payable, exercise any rights under applicable law, and enforce any security interests described in this Agreement. Costs of collection, including reasonable attorneys' fees, shall be borne by the defaulting party.

Representations and Warranties

Each party represents and warrants that it has full corporate or organizational power and authority to enter into this Agreement and to perform its obligations. Borrower further represents that the proceeds of the advance will be used only as set forth in the Scope of Work and that no material adverse facts related to Borrower's financial condition have been omitted from disclosures to Lender.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to conflict of laws principles.

Entire Agreement

This Agreement, including all schedules, exhibits and written amendments signed by the parties, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether written or oral.

Amendments to this Agreement must be in writing and signed by both parties. If any provision of this Agreement is found to be unenforceable, the remainder shall remain in full force and effect.

By signing below, the undersigned represent and warrant that they are authorized to bind the respective party and acknowledge that they have read and understood all terms and conditions of this Agreement.

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