Business Loan Application

Business Loan Application

Purpose

The following information is needed to better understand the lending needs for your business.

Product

Tell us which loan product(s) will help you meet your business needs.

To be completed by Borrower(s). Select all that apply.

Purchase Equipment (please describe):    Business Purchase:

Refinance or Debt Consolidation    Purchase of Real Estate/Down Payment: /

Working Capital (specify use):    Purchase Vehicle (please describe):

Start Up or Other

Modification to an Existing Peoples State Bank Loan (excluding interest rate & fee changes)

Existing Peoples loan#:

Change requested (please describe):

New Increase Renewal

Product Amount Requested

Commercial Real Estate Mortgage $

Line of Credit $

Letter of Credit $

Term Loan (up to 5 yrs) $

Requested monthly payment due date:

Automatic payments: Yes No

Fixed Rate (3 to 5) years   Amortization (10 to 20) years

Automatic Payment Deduction

Automatic Payment Deduction will save you time & money by automatically deducting your monthly payments(s) from your Peoples State Bank Business Checking account #

Auto deduction for a Peoples Checking account must be established in order to save 0.25% on your interest rate.

Business Information (Applicant/Borrower)

The following information is required to process your loan request(s). Please complete all sections.

Business Legal Name:

Doing Business as (DBA) Name, if any: Primary Contact:

Tax I.D. #: Phone #: Email Address:

Street Address (no PO Boxes): City: State: Zip:

Mailing Address (if different): City: State: Zip:

C Corporation S Corporation Limited Liability Company (LLC) Non-Profit Sole Proprietor

LLP Limited Partnership General Partnership Other

CEO Name: CFO/Controller Date Business Established:

State of Incorporation: Number of Employees Before/After financing:

Explain Nature of Business:

Manufacturing Wholesale Retail Service Agricultural Construction Investment Real Estate

Other

Affiliate Information

Does business, any owner(s) or member of management team have a controlling interest in other businesses?

No Yes

Does business buy from, sell to or use services of any concern in which owner(s), shareholder(s) or member(s) of management team have a significant financial interest?

No Yes

Collateral Information

Collateral being offered to secure Line of Credit or Term Loan.

All business assets Vehicle(s) Equipment

Primary residence Commercial property People’s CD, Savings account or marketability securities

Business Obligations / Deposit Relationships

The following information is required to process your application & will help us get a complete view of your current banking relationships.

Include all business loans & business deposit relationships (including existing accounts with Peoples State Bank). Do not include rent on office space or other facilities.

Check the services you are currently using or interested in:

Online Banking ACH Processing Fraud Services

BillPay Remote Check Deposit Credit Card Processing

Corporate Credit Cards Direct Deposit for Payroll

Business Deposit

Cash Management Relationship:

Deposit type / Bank name / Current balance

Checking Savings $

Checking Savings $

Business Obligations (Does Business have any other outstanding loans?) No Yes

Declarations

The following questions are required to process your Business loan request. Please provide details on an additional page to any question with a YES response.

Yes No 1. Is the applicant party to any lawsuit or subject to outstanding judgments?

Yes No 2. Is the applicant party to taxes or credit obligations past due? Amount: $ Payable to:

Yes No 3. Has the applicant ever filed personal bankruptcy or served as an officer in a company that declared bankruptcy?

Yes No 4. Is the applicant presently under indictment or probation or parole, or ever been charged or convicted for any criminal offense other than a minor motor vehicle violation?

Yes No 5. Is the applicant a political party, a campaign a candidate, a public official or foreign political official or an immediate family member of such an official, or a business entity formed by or for the benefit of any public official? If yes, name, relationship, & position of official:

Yes No 6. Is the applicant or an owner an employee of Peoples? If yes, name of employee:

Yes No 7. Is the applicant engaged in Internet gambling? If yes, what type of Internet gambling does the applicant participate in?

Credit Application Checklist

Bank employee must initial next to each line item to validate that they have supplied the required documentation. If any items are omitted reasons why must be included.

Required Documentation

Small business loan application – completed, signed & dated. Bank employee initials: Reason for omissions:

Attached sheet providing details to Declaration questions answered YES on page 2. Bank employee initials: Reason for omissions:

Copy of Purchase & Sales Agreement/Bill of Sale, if applicable. Bank employee initials: Reason for omissions:

For investment real estate transactions, a schedule of all property owned showing year purchased, purchased price, outstanding loans & payments, & gross rents & expenses. Bank employee initials: Reason for omissions:

Two years current business federal tax return (complete with all schedules) or Accountant prepared Financial Statement. Bank employee initials: Reason for omissions:

Personal financial Statement. Bank employee initials: Reason for omissions:

Interim YTD business financial statement (balance sheet & income statement). Bank employee initials: Reason for omissions:

Accounts Receivable aging report if loan is for working capital purposes or secured by accounts receivable. Bank employee initials: Reason for omissions:

Two years personal federal tax return - complete with all schedules for each guarantor. Bank employee initials: Reason for omissions:

Representation

The undersigned certifies that I intend to apply for Credit in the manner indicated in this application and certify that everything stated in this application and on any attachment is correct.

Name of Business (please print):

Name of Authorized Signer (please print):

Authorized Signature: Date:

Name of Business (please print):

Name of Authorized Signer (please print):

Authorized Signature: Date:

Right to a copy of Appraisal

We may order an appraisal or broker’s price opinion to determine the property’s value and charge you for this appraisal. In the event the property is a 1 to 4 family residential property, we will promptly give you a copy of any such appraisal, even if your loan does not close. You can pay for an additional appraisal for your own use at your own cost.

I waive my right to receive my appraisal 3 days prior to closing. I acknowledge that Peoples will provide me with the appraisal at closing of my loan.

Addendum A: Affiliate Information

Legal Name: Address: Phone: % Ownership:

No Yes

Addendum B: Business Obligations / Deposit Relationships

Business Obligations

Creditor: Loan type: Current balance: Origination date: Maturity date: Monthly payment: Collateral:

Addendum C: Personal Information

Please provide the following information on all guarantors. Information must be provided on all owners who own 20% or more of the business.

Guarantor 1

Business name (applicable only for the business or individual that will serve as guarantor):

First M.I. Last

SSN DOB % Ownership

Personal Financial Statement

Section 1: Applicant Information

Name

Date of Birth Social Security Number

Residence Address

City State Zip

Section 3: Statement of Financial Condition as of date:

ASSETS

Cash on Hand and In Banks (Schedule A)

Investment Securities (Schedule A)

Real Estate Owned (Schedule C)

Other Assets (itemize)

LIABILITIES

Secured Notes Payable to Banks (Schedule E)

Unsecured Notes Payable to Banks (Schedule E)

Other Debts (itemize)

Are you a U.S. Citizen? Yes No

Do you have contingent liabilities? Yes No If Yes, describe:

COMPLETE THE SCHEDULES ON THE NEXT PAGE AND PROVIDE SIGNATURE.

Schedules

Schedule A: Cash, Bank Accounts and Investment Securities

Account Type Bank/Broker Name In Name Of Current Balance

Schedule E: Banks/Finance Companies Where Credit Has Been Obtained

Lender Name Collateral Description Current Balance

Notice: We may report information about your account to credit bureaus. Late payment, missed payments, or other defaults on your account may be reflected in your credit report.

I certify that this financial statement is true and complete. I authorize lender or its agents to verify the information obtained in this statement and to obtain additional information concerning my financial condition.