Can this be signed electronically?

Yes. Electronic signatures are generally enforceable under ESIGN and state e-signature statutes such as UETA when intent, consent, attribution, and retention are satisfied. Confirm any consumer disclosures required for financial or healthcare contexts.

Is notarization required?

Not always. Whether notarization is needed depends on the statement’s purpose and the receiving party. If a notarized acknowledgement or jurat is requested, use an in-person notary or a compliant RON provider where state law allows.

What if the signer’s name differs from records?

Name mismatches can delay acceptance. Provide supporting identity documents, corporate resolutions, or amended formation records to reconcile differences before submission.

How do I attach supporting exhibits correctly?

Label exhibits clearly, reference them in the statement, and attach PDFs in the order cited. Maintain an exhibit index and ensure each attachment is signed or stamped if required.

Can I revoke or amend a submitted statement?

Amendments require agreement of the receiving party; unilateral revocation may be ineffective once relied upon. Document amendments with dated, signed addenda and retain prior versions for audit trail.

How long should executed statements be stored?

Retain executed statements according to applicable retention rules: a minimum of three years for tax records, six years for HIPAA-covered records, and longer where industry or state law requires it.

Electronic Signature
Templates
Miscellaneous
Business Supporting Statement

Business Supporting Statement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

BUSINESS SUPPORTING STATEMENT

Business Information

Business Name Business Address Tax Identification Number Primary Contact

Contact Email

Requesting Party Information

Requesting Party Name Requesting Party Address

Recitals

WHEREAS, Business Name: is engaged in lawful commercial activities and possesses records, data and information relevant to the Requesting Party's diligence and evaluation; and

WHEREAS, Requesting Party Name: seeks a supporting statement and corroborating information to assist in credit, procurement, regulatory or contractual review; and

WHEREAS, Business agrees to provide a factual supporting statement and related documentation subject to the terms and conditions set forth in this Statement.

Scope of Statement

The Business shall prepare and deliver a written supporting statement describing the business background, material financial highlights, operational overview and any facts specifically requested by the Requesting Party. The statement will be limited to factual representations of historical operations and current status; forward-looking projections, legal opinions or tax advice are not included unless separately agreed in writing.

Scope of Work — Describe items and deliverables to be provided

Supporting Information & Attachments

Provide or indicate which documents will be delivered with this statement:

Documents Provided (check all that apply) Balance Sheet Income Statement Accounts Receivable Aging Business Plan / Executive Summary Other documents

Payment Terms

The Requesting Party shall pay Business the fees for preparation and delivery of the supporting statement as set forth below. All payments are due in accordance with the schedule selected.

Total Fee Payment Schedule

Invoice Due (days)

Late Fee

Term and Termination

This Statement commences on the Effective Date and continues until completion of the deliverables or earlier termination in accordance with this section.

Start Date:

End Date:

Notice Period for Termination (days) Termination Provisions

Confidentiality

Each party agrees that Confidential Information disclosed by one party to the other shall be held in strict confidence and used solely for the evaluation and performance of this Statement. Confidential Information excludes information that (a) is or becomes public through no breach by the receiving party; (b) was lawfully in the receiving party's possession prior to disclosure; (c) is independently developed by the receiving party; or (d) is required to be disclosed by law, regulation, or court order, provided the disclosing party is given prompt notice and opportunity to seek protective measures. The receiving party will implement reasonable safeguards to protect Confidential Information and will limit access to employees or advisors who need such access to perform the work.

Representations & Certification

The Business represents that the information provided in the supporting statement and attached documents is true, accurate and complete to the best of its knowledge as of the date of execution. Business acknowledges that Requesting Party may rely upon the statement for credit, procurement, or other commercial decision-making and that any material misrepresentation may give rise to remedies at law or equity.

I certify that the statements and attachments provided are true and correct to the best of my knowledge and belief.

Governing Law

This Statement shall be governed by and construed in accordance with the laws of the jurisdiction selected below, without regard to conflict of law principles.

Governing Jurisdiction

Entire Agreement

This Statement, together with any expressly incorporated attachments and schedules, constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior oral or written agreements, understandings or communications relating thereto. Any amendment must be in writing and signed by authorized representatives of both parties.

Additional Provisions

Notices under this Statement shall be in writing and delivered to the addresses provided above. If any provision of this Statement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect. The parties agree to negotiate in good faith to reform any invalid provision to reflect the parties' original intent.

Business Representative

Party Label:

By:

Date:

Requesting Party Representative

Party Label:

By:

Date:

What a Business Supporting Statement Is and when it’s used

A Business Supporting Statement is a written record that describes a company’s business activities, ownership, financial relationships, and the factual basis for a request, application, or compliance filing. Organizations use it to document eligibility for financing, vendor onboarding, licensing, grants, or regulatory reviews. The statement typically accompanies primary documents, provides attestations from responsible officers, and is retained as evidence of due diligence, material disclosures, and signatory intent for the record.

Why this statement matters for compliance and recordkeeping

A clear Business Supporting Statement centralizes material facts, documents decision rationale, and creates an auditable record for internal and external review. When executed electronically it remains legally admissible under ESIGN and state e-signature laws such as UETA, provided intent, consent, attribution, and retention requirements are met.

Typical users and when each group completes the statement

Organizations and individuals preparing regulatory filings, vendor onboarding, loan or grant applications, or audit responses commonly complete this form.

Finance teams and controllers preparing supporting exhibits for lenders, investors, or auditors; they populate financial descriptions and attestations.
Legal or compliance officers validating ownership, authority to sign, and disclosures required by regulators or contracting parties.
Business owners and operations managers supplying operational detail, project scope, and supporting exhibits to vendors or grant administrators.

The signer should be an authorized representative with knowledge of the facts; inaccurate or incomplete statements can delay approvals or create legal exposure.

Step-by-step: filling and finalizing the statement

Follow these steps to prepare, verify, and execute a Business Supporting Statement so it is complete, consistent, and legally defensible.

01

Gather documents: Collect formation, tax, and financial exhibits for attachment.
02

Complete fields: Enter required data using the formats specified above.
03

Review internally: Have legal or finance verify factual assertions.
04

Execute and retain: Sign, date, and keep an auditable copy in records.

Configuring an electronic workflow for this statement

Set up a digital workflow that captures signer identity, attachments, and audit data to meet legal and recordkeeping requirements.

Field	Configuration
Signer Order	Sequential or parallel routing, depending on approvals.
Authentication	Email plus optional SMS or knowledge-based checks.
Attachments	Require PDF exhibits and enforce file size limits.
Audit Trail	Enable timestamp, IP logging, and certificate generation.

Where to send the completed statement and typical destinations

After execution, route the statement to parties that rely on it and to internal recordkeeping systems without modifying the signed record.

External Recipient: Send to lender, regulator, or counterparty as required.
Internal Records: Store in your document management system for retention.
Compliance Team: Provide a copy to legal or compliance for review.
Audit Archive: Retain an immutable copy with audit metadata.

Technical considerations for electronic completion and submission

Ensure the signing platform supports required authentication, secure storage, and integration with your record systems before e-executing the statement.

Authentication: Email, SMS, KBA, or SSO options
Integrations: Salesforce, NetSuite, Microsoft 365
Formats: PDF, DOCX, and secure audit export

Choose settings that preserve the signed record, capture audit metadata, and allow export to your long‑term archive in a non‑editable format.

Security and compliance basics to include on the statement

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest

Audit Trail: Timestamped actions and signer metadata

Certifications: SOC 2 Type II and ISO 27001

Health Data: HIPAA covered (BAA required)

Regulatory: 21 CFR Part 11 support available

Privacy: GDPR and CCPA compliance options

Core components to include in a professional Business Supporting Statement

A complete statement organizes factual content into discrete sections so reviewers can verify claims quickly and consistently across transactions.

Parties

Identify each legal entity and natural person with full legal names, jurisdiction of formation, and contact details for verification and service.

Purpose

State the specific purpose of the statement, such as loan underwriting, vendor onboarding, license application, or grant support, with concise context.

Business Activities

Summarize core operations, product or service lines, principal markets, and any material recent changes affecting risk or compliance.

Financial Summary

Provide key financial indicators, referenced exhibits, and the period covered; avoid narrative ambiguity and attach supporting statements or ledgers.

Attestations

Include explicit attestations of truthfulness, authority to bind the entity, and identification of any known conflicts or unresolved liabilities.

Attachments

List and attach supporting documents such as formation certificates, tax returns, contracts, invoices, or audited financial statements.

Supporting documents commonly attached

Attach primary exhibits that corroborate statements and make verification efficient for counterparty reviewers and auditors.

Formation Records

Articles of organization/incorporation, operating agreement, or partnership agreement showing legal existence and ownership.

Tax Records

Recent returns, schedules, or W-9/EIN documentation to verify tax identity and reporting history.

Financial Statements

Recent balance sheet and income statement, and any auditor letters or compiled reports supporting financial claims.

Contracts and Invoices

Material customer contracts, supplier agreements, or invoices that substantiate revenue, obligations, or claims.

Key legal and operational risks of an incorrect statement

Filing Penalty: Late filing exposure

Tax Withholding: Backup withholding risk

Invalid Signature: Questioned enforceability

Data Breach: HIPAA or privacy violation

Fraud Allegation: Intentional misstatement liability

Audit Failure: Regulatory noncompliance

Common mistakes to avoid when preparing the statement

Using an incomplete legal name or abbreviated entity name undermines verification and can lead to transaction rejections or additional documentation requests.
Attaching unsigned or undated exhibits creates ambiguity about when facts were true and can invalidate attestations during audits or compliance reviews.
Failing to capture signer authentication and audit metadata in electronic workflows increases the risk that a digital signature will be challenged.
Not updating the statement when material facts change (ownership, mergers, bankruptcy filings) can expose the company to liability and rescission claims.

Typical eSignature vendor comparison for executing supporting statements

Platform pricing and features vary; the table compares starting price and common feature availability across leading vendors to help match capabilities to requirements.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies by offering	Varies by offering	Varies by offering	Varies by offering
Bulk Send	Yes (plan-dependent)	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No cap	100 envelopes/user/year	Varies by plan	Varies by plan	Varies by plan

Real-world examples of how organizations use this statement

These condensed examples show practical applications across different organizations and common outcomes.

Optica Ventures — COO

Optica Ventures required a concise supporting statement for investor diligence that summarized operations and ownership.

The form captured attestations and exhibits for underwriting.
The company streamlined investor review cycles by organizing exhibits, clarifying authority, and reducing follow-up information requests during due diligence.

Martin Properties — Founder

A property management firm used the statement to support lender requests for portfolio financing.

It included financial schedules and lease summaries.
Using a standardized form reduced lender clarifications, accelerated underwriting, and improved documentation consistency across multiple property transactions.

Timing expectations and typical processing targets

While statutory deadlines rarely apply to the statement itself, set internal SLAs and external response times to avoid delays in approvals.

Request Turnaround:

Provide completed statement within 7–14 business days when practical.

Internal Review:

Allow 3–5 business days for legal or finance verification.

Notarization Scheduling:

Schedule notary or RON within 3–10 business days as needed.

External Submission:

Submit to counterparty within agreed contract timelines.

Record Retention:

Confirm archival placement within 30 days after execution.

Frequently asked questions about the Business Supporting Statement

Practical answers to common questions about validity, signatures, notarization, and recordkeeping for this document.

Need help? Contact support

Can this be signed electronically?
Yes. Electronic signatures are generally enforceable under ESIGN and state e-signature statutes such as UETA when intent, consent, attribution, and retention are satisfied. Confirm any consumer disclosures required for financial or healthcare contexts.
Is notarization required?
Not always. Whether notarization is needed depends on the statement’s purpose and the receiving party. If a notarized acknowledgement or jurat is requested, use an in-person notary or a compliant RON provider where state law allows.
What if the signer’s name differs from records?
Name mismatches can delay acceptance. Provide supporting identity documents, corporate resolutions, or amended formation records to reconcile differences before submission.
How do I attach supporting exhibits correctly?
Label exhibits clearly, reference them in the statement, and attach PDFs in the order cited. Maintain an exhibit index and ensure each attachment is signed or stamped if required.
Can I revoke or amend a submitted statement?
Amendments require agreement of the receiving party; unilateral revocation may be ineffective once relied upon. Document amendments with dated, signed addenda and retain prior versions for audit trail.
How long should executed statements be stored?
Retain executed statements according to applicable retention rules: a minimum of three years for tax records, six years for HIPAA-covered records, and longer where industry or state law requires it.

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