[{"data":1,"prerenderedAt":478},["ShallowReactive",2],{"document-approbation-of-financing-application-D244":3},{"document":4,"label":22,"preview":11,"thumb":23,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":24,"breadcrumb":28,"related":36,"customDescModule":177,"customdescription":6,"mdFm":178,"mdProseHtml":477},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":16,"keywords":21},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: approbation of financing application Dear [Contact name], Your application for financing on the acquisition of your new [describe] has been approved. Your order for [Number] [Product] will be shipped within [Number] days. As the enclosed lease documents indicate, your monthly lease payment is [Amount]",null,"Approbation of Financing Application","1",513,"doc","https://templates.business-in-a-box.com/imgs/1000px/approbation-of-financing-application-D244.png","https://templates.business-in-a-box.com/imgs/250px/244.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#244.xml",{"title":15,"description":6},"approbation of financing application",[17,20],{"label":18,"url":19},"Credit & Collection","/templates/credit-collection/",{"label":18,"url":19},"approbation financing application","Approbation of Financing Application Template","https://templates.business-in-a-box.com/imgs/400px/244.png",[25,17,20],{"label":26,"url":27},"Templates","/templates/",[29,30,33],{"label":26,"url":27},{"label":31,"url":32},"Finance & Accounting","/templates/finance-accounting/",{"label":34,"url":35},"Business Financing & Loans","/templates/business-financing-and-loans/",[37,41,45,49,53,57,61,65,69,73,77,81,85,102,119,132,147,160],{"label":38,"url":39,"thumb":40,"extension":10},"Application Policy","/template/application-policy-D13439","https://templates.business-in-a-box.com/imgs/250px/13439.png",{"label":42,"url":43,"thumb":44,"extension":10},"Business Financing Guide","/template/business-financing-guide-D13149","https://templates.business-in-a-box.com/imgs/250px/13149.png",{"label":46,"url":47,"thumb":48,"extension":10},"Financing Agreement Short","/template/financing-agreement-short-D470","https://templates.business-in-a-box.com/imgs/250px/470.png",{"label":50,"url":51,"thumb":52,"extension":10},"Financing Agreement","/template/financing-agreement-D877","https://templates.business-in-a-box.com/imgs/250px/877.png",{"label":54,"url":55,"thumb":56,"extension":10},"Application Acknowledgment","/template/application-acknowledgment-D598","https://templates.business-in-a-box.com/imgs/250px/598.png",{"label":58,"url":59,"thumb":60,"extension":10},"Franchise Application","/template/franchise-application-D880","https://templates.business-in-a-box.com/imgs/250px/880.png",{"label":62,"url":63,"thumb":64,"extension":10},"Term Sheet for Series A Round of Financing","/template/term-sheet-for-series-a-round-of-financing-D472","https://templates.business-in-a-box.com/imgs/250px/472.png",{"label":66,"url":67,"thumb":68,"extension":10},"Bank Loan Application Form and Checklist","/template/bank-loan-application-form-and-checklist-D461","https://templates.business-in-a-box.com/imgs/250px/461.png",{"label":70,"url":71,"thumb":72,"extension":10},"Approbation of New Credit Account","/template/approbation-of-new-credit-account-D245","https://templates.business-in-a-box.com/imgs/250px/245.png",{"label":74,"url":75,"thumb":76,"extension":10},"Company Credit Account Approbation","/template/company-credit-account-approbation-D251","https://templates.business-in-a-box.com/imgs/250px/251.png",{"label":78,"url":79,"thumb":80,"extension":10},"Application for Zoning Variance","/template/application-for-zoning-variance-D1166","https://templates.business-in-a-box.com/imgs/250px/1166.png",{"label":82,"url":83,"thumb":84,"extension":10},"Business Credit Application","/template/business-credit-application-D247","https://templates.business-in-a-box.com/imgs/250px/247.png",{"description":86,"descriptionCustom":6,"label":87,"pages":88,"size":9,"extension":10,"preview":89,"thumb":90,"svgFrame":91,"seoMetadata":92,"parents":94,"keywords":93,"url":101},"LOAN AGREEMENT This Loan Agreement (\"Agreement\") is made and effective the [DATE], BETWEEN: [LENDER NAME] (the \"Lender\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Borrower\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] Promise to Pay Within [NUMBER] months from today, Borrower promises to pay to Lender the sum of [AMOUNT], and interest and other charges stated below. Responsibility Although this Agreement may be signed below by more than one person, Borrower understands that both parties are individuals responsible for paying back the full amount. Breakdown of Loan Amount of Loan: Other (Describe): Amount Financed: Finance Charge: Total of Payments: Annual Rate: Repayment Borrower will repay the amount of this note in [NUMBER] equal uninterrupted monthly installments of [AMOUNT] each on the [DAY] of each month starting on the [DATE], and ending on [DATE]. Prepayment Borrower has the right to prepay the whole outstanding amount at any time","Loan Agreement","2","https://templates.business-in-a-box.com/imgs/1000px/loan-agreement-D417.png","https://templates.business-in-a-box.com/imgs/250px/417.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#417.xml",{"title":93,"description":6},"loan agreement",[95,97,100],{"label":31,"url":96},"finance-accounting",{"label":98,"url":99},"Business Loans","business-loan",{"label":98,"url":99},"/template/loan-agreement-D417",{"description":103,"descriptionCustom":6,"label":104,"pages":105,"size":106,"extension":10,"preview":107,"thumb":108,"svgFrame":109,"seoMetadata":110,"parents":111,"keywords":117,"url":118},"PROMISSORY NOTE This Promissory Note (the \"Note\") is made and effective the [DATE], BETWEEN: [LENDER NAME] (the \"Lender\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Borrower\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] TERMS FOR VALUE RECEIVED, the Borrower promises to pay to the order of Lender, at its principal office located at [ADDRESS], or at such other place that is designated in writing by the holder hereof, the principal sum of [AMOUNT], together with all charges and interest herein provided, payable at the rate and in the manner hereinafter set forth: Borrower shall make monthly payments of principal and interest at the rate of [%] per annum based upon an amortization of [NUMBER] months. Monthly payments shall be due on or before the first day of each month with the first payment being due on or before [DATE]. If not sooner paid, all amounts due under this Note, including principal, interest and other charges shall be due and payable in full on or before the first day of [MONTH], [YEAR] (the \"Maturity Date\"). Time is of the essence of the payment obligations hereunder and each monthly payment shall be due and payable on or before the first day of each month. This Note is and will be secured by a certain first priority security interest in all of the tangible and intangible property of the Borrower, to be recorded in all applicable governmental offices. The parties shall execute a separate security agreement, in form and substance acceptable to the Lender in all respects. Borrower agrees to execute any such security agreements presented by the Lender or other documents required by the Lender in order to perfect its security interest in the above described property. Said Security Agreement and any other instruments and documents executed in connection with or given as security for this Note shall hereinafter be referred to collectively as the \"Loan Documents.\" All of the terms, covenants, Conditions, representations and warranties contained in the Loan Documents are hereby made part of this Note to the same extent and with the same force and effect as if fully set forth herein. If all or any portion of any payment due hereunder is not received by the Lender within [NUMBER] calendar days after the date when such payment is due, Borrower shall pay a late charge equal to [%] of such payment, such late charge to be immediately due and payable without demand by Lender. Borrower shall have the right to prepay all (but not a portion) of the indebtedness evidenced by this Note at any time, by paying the Lender an amount equal to the sum of (I) the principal balance then outstanding, (ii) all interest accrued to the date of such prepayment, (iii) all interest calculated through the Maturity Date, and (iv) any late charge or charges then due and owing. If any payment under this Note is not paid in full by the [DAY] of any month during the term hereof or if the entire amount due as represented by this Note is not paid in full on or before the Maturity Date, or should default be made in the performance or observation of any of the terms, covenants, or conditions contained in the Loan Documents, or if any representation or warranty contained in the Loan Documents is breached or is or becomes untrue, this Note shall be in default, and the entire principal amount outstanding hereunder, accrued interest thereon, all late charges, if any, and any and all other charges due hereunder, shall, at Lender's option, immediately become due and payable, without further notice, the giving of such notice being expressly waived by the Borrower","Promissory Note","3",39,"https://templates.business-in-a-box.com/imgs/1000px/promissory-note-D434.png","https://templates.business-in-a-box.com/imgs/250px/434.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#434.xml",{"title":6,"description":6},[112,113,114],{"label":31,"url":96},{"label":98,"url":99},{"label":115,"url":116},"Promissory Notes","promisory-note","promissory note","/template/promissory-note-D434",{"description":120,"descriptionCustom":6,"label":121,"pages":8,"size":9,"extension":10,"preview":122,"thumb":123,"svgFrame":124,"seoMetadata":125,"parents":127,"keywords":126,"url":131},"CREDIT NOTE CREDIT NOTE NUMBER: [Unique Credit Note Number] INVOICE NUMBER: [Related Invoice Number] DATE OF INVOICE: [Date of Related Invoice] [YOUR COMPANY NAME] [YOUR COMPANY ADDRESS] [CITY, STATE, ZIP CODE] [DATE] [CUSTOMER NAME] [CUSTOMER ADDRESS] [CITY, STATE, ZIP CODE] ","Credit Note","https://templates.business-in-a-box.com/imgs/1000px/credit-note-D13639.png","https://templates.business-in-a-box.com/imgs/250px/13639.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13639.xml",{"title":126,"description":6},"credit note",[128,130],{"label":18,"url":129},"credit-collection",{"label":18,"url":129},"/template/credit-note-D13639",{"description":133,"descriptionCustom":6,"label":134,"pages":135,"size":9,"extension":10,"preview":136,"thumb":137,"svgFrame":138,"seoMetadata":139,"parents":141,"keywords":140,"url":146},"Investment Proposal [Your Company Name] Address City Postal Code Phone 555.555.5555 Email info@yourbusiness.com www.yourbusiness.com Table of Contents Statement of Confidentiality 4 1. Executive Summary 5 1.1 Purpose of the Proposal 5 1.2 Business Overview 5 1.3 Funding Requirements 5 2. Business Description 6 2.1 Company Background 6 2.2 Business Objectives 6 2.3 Unique Selling Proposition (USP) 6 3. Market Analysis 7 3.1 Industry Overview 7 3.2 Target Market 7 3.3 Competitive Analysis 7 4. Products and Services 8 4.1 Product/Service Overview 8 4.2 Development Stage 8 5. Marketing and Sales Strategy 9 5.1 Marketing Strategy 9 5.2 Sales Strategy 9 5.3 Distribution Channels 9 6. Operational Plan 10 6.1 Production Process 10 6.2 Facilities 10 6.3 Suppliers and Partners 10 7. Management Team 11 7.1 Team Overview 11 7.2 Roles and Responsibilities 11 8. Financial Plan 12 8.1 Financial Projections 12 8.2 Break-even Analysis 12 9. Investment Offer 13 9.1 Investment Requirement 13 9.2 Use of Funds 13 9.3 Equity Offer 13 9.4 Exit Strategy 13 10. Conclusion 14 11. Appendices 15 11.1 Supporting Documents 15 Statement of Confidentiality & Non-Disclosure This document contains proprietary and confidential information. All data submitted to [RECEIVING PARTY] is provided in reliance upon its consent not to use or disclose any information contained herein except in the context of its business dealings with [YOUR COMPANY NAME]. The recipient of this document agrees to inform present and future employees of [RECEIVING PARTY] who view or have access to its content of its confidential nature. The recipient agrees to instruct each employee that they must not disclose any information concerning this document to others except to the extent that such matters are generally known to, and are available for use by, the public. The recipient also agrees not to duplicate or distribute or permit others to duplicate or distribute any material contained herein without [YOUR COMPANY NAME]'s express written consent. [YOUR COMPANY NAME] retains all title, ownership and intellectual property rights to the material and trademarks contained herein, including all supporting documentation, files, marketing material, and multimedia. BY ACCEPTANCE OF THIS DOCUMENT, THE RECIPIENT AGREES TO BE BOUND BY THE AFOREMENTIONED STATEMENT. Executive Summary 1.1 Purpose of the Proposal Briefly describe the purpose of this investment proposal and what you hope to achieve with the funding. 1.2 Business Overview Provide a snapshot of your business, including the core mission and goals. 1.3 Funding Requirements Specify the amount of funding needed and a high-level allocation of funds. Business Description 2.1 Company Background Outline the history and evolution of your business. 2.2 Business Objectives Detail the objectives your business intends to achieve. 2.3 Unique Selling Proposition (USP) Highlight what makes your business stand out in the market. Market Analysis 3.1 Industry Overview Discuss the current state of the industry and future growth prospects. 3.2 Target Market Define who your customers are and their key characteristics. 3","Investment Proposal","15","https://templates.business-in-a-box.com/imgs/1000px/investment-proposal-D13992.png","https://templates.business-in-a-box.com/imgs/250px/13992.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13992.xml",{"title":140,"description":6},"investment proposal",[142,145],{"label":143,"url":144},"Legal Agreements","business-legal-agreements",{"label":143,"url":144},"/template/investment-proposal-D13992",{"description":148,"descriptionCustom":6,"label":149,"pages":105,"size":9,"extension":10,"preview":150,"thumb":151,"svgFrame":152,"seoMetadata":153,"parents":155,"keywords":158,"url":159},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: LETTER OF INTENT-ACQUISITION OF BUSINESS Dear [CONTACT NAME]: This letter (\"Letter of Intent\") sets forth the basic preliminary terms between the Buyer or his nominee and yourselves regarding the purchase of the [SPECIFY] business (the \"Business\") carried on by yourselves. Except as specifically set forth herein, this Letter of Intent shall not constitute an agreement between the parties and no agreement shall be deemed to exist until execution of a definitive purchase agreement. It is proposed that Buyer will acquire certain assets of the Business which Buyer believes to be necessary to the future of the Business, including the warehouse in [CITY/STATE] in which [COMPANY NAME] the Company has invested [AMOUNT] in cash and which has been financed by a mortgage loan of approximately [AMOUNT] granted by the [SPECIFY COMPANY] [CITY/STATE]. Buyer understands that the said warehouse has no other charges or liabilities affecting it other than the said mortgage loan. Buyer may either purchase the warehouse outright or enter into a lease-purchase or instalment transfer of ownership which is satisfactory to both parties. The gross purchase price for the said warehouse will be [AMOUNT]. Buyer may purchase or lease barrels and other equipment currently owned by the Company which are necessary to operate the Business, on a cash or instalment basis agreeable to both parties. The specific assets to be purchased and the amounts to be paid by Buyer in connection with this transaction remain to be negotiated by the parties. This Letter of Intent also evidences the intentions of the parties with respect to the following agreements: Buyer will enter into a [NUMBER]-year employment agreement with [COMPANY NAME], providing for the Company will be responsible for the purchase of [SPECIFY] for Buyer. The agreement will contain the customary terms and conditions found in employment agreements in similar transactions and will provide for the usual non-competition and non-solicitation covenants to be entered into by the Company in favour of Buyer. It is expressly understood that if the contemplated transaction is consummated, the aggregate amount of commission paid or payable to yourselves (net of reasonable expenses acceptable to Buyer) in respect of all purchases of [SPECIFY] made through you from the date of this Letter of Intent to the date of closing, with the exception of commissions earned on the [NUMBER] truckloads of [SPECIFY] to be delivered to Buyer during the week of [DATE] to [DATE], will be applied against remuneration payable to the Company in the first year of his employment agreement. If the contemplated transaction is not consummated, all such commissions paid or payable will be treated as commissions. Buyer will enter into a [NUMBER]-year employment agreement with [EMPLOYEE NAME], providing for the payment of a gross base salary of [ANNUAL SALARY] per year, to be paid weekly, subject to annual review. [EMPLOYEE NAME] will be President of the Business and the employment agreement will provide for health benefits, automobile, expenses and bonus arrangements","Letter of Intent_Acquisition of Business","https://templates.business-in-a-box.com/imgs/1000px/letter-of-intent_acquisition-of-business-D5197.png","https://templates.business-in-a-box.com/imgs/250px/5197.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#5197.xml",{"title":154,"description":6},"letter of intent_acquisition of business",[156,157],{"label":143,"url":144},{"label":143,"url":144},"letter intent_acquisition business","/template/letter-of-intent_acquisition-of-business-D5197",{"description":161,"descriptionCustom":6,"label":162,"pages":163,"size":9,"extension":10,"preview":164,"thumb":165,"svgFrame":166,"seoMetadata":167,"parents":169,"keywords":168,"url":176},"COLLATERAL AGREEMENT This Collateral Agreement (the \"Agreement\") is effective [DATE], BETWEEN: [NAME OF PLEDGOR] (the \"Pledgor\"), an individual with his main address located at OR a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [NAME OF COLLATERAL AGENT] (the \"Collateral Agent\"), an individual with his main address located at OR a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] Collectively, the Pledgor and Collateral Agent shall be referred to as the \"Parties.\" WHEREAS, the Pledgor and [NAME] (the \"Pledgee\") have entered into certain agreements pursuant to which the Pledgor has agreed to pledge certain property as Collateral (the \"Collateral\") as described in Exhibit A to the Pledgee to secure the Pledgor's Obligations to the Pledgee; WHEREAS, the Pledgor and the Pledgee have requested the Collateral Agent to hold the property pledged as Collateral and to perform certain other functions as more fully described herein; NOW, THEREFORE, the Parties agree as follows: APPOINTMENT AND ACCEPTANCE The Pledgor hereby appoints [NAME] as its Collateral Agent for the purposes set forth herein, and the Collateral Agent hereby accepts such appointment, subject to the terms and conditions set forth herein. COLLATERAL AND DELIVERY As security for the payment or performance, as the case may be, in full when due (whether at stated maturity, by acceleration or otherwise) of the Loan (other than contingent obligations), the Pledgor and Pledgee hereby confirm the pledge and grant to the Collateral Agent, its successors and permitted assigns of the security interest, for the ratable benefit of the Loan; and as security for the payment or performance, as the case may be, in full when due (whether at stated maturity, by acceleration or otherwise) of the Obligations (other than contingent obligations), the Pledgor hereby pledges and grants to the Collateral Agent, its successors and permitted assigns, for the ratable benefit, a security interest in all right, title or interest in or to any and all of the following assets and properties in each case, whether tangible or intangible, wherever located, and now owned or at any time hereafter acquired by the Pledgor (but excluding any Excluded Collateral), collectively, the \"Collateral.\" The description and details of the Collateral are mentioned in Exhibit A, which is attached to this Agreement. The Collateral shall be delivered to the Collateral Agent on the effective date and the receipt of the Collateral shall be acknowledged by the Collateral Agent. LOAN AND REPAYMENT This Loan is in the amount of [AMOUNT] at [SPECIFY THE RATE OF INTEREST] % interest per year, compounded for a period of [NUMBER OF YEARS] years. Payments of principal and interest in the amount of [AMOUNT], payable on the [SPECIFY DAY] day of each month, shall begin on [DATE], and the Loan shall be fully repaid no later than [DATE]. The Pledgor may prepay any portion or all of this Loan at any time without penalty. Any amounts paid in excess of the regular payment due shall be applied to reduce the principal amount of the Loan. DUTIES OF COLLATERAL AGENT Standard. The Collateral Agent undertakes to perform without gross negligence only such duties as are expressly set forth herein and no duties shall be implied. The Collateral Agent shall have no liability under and no duty to inquire as to the provisions of any law, regulation or agreement other than this Collateral Agreement. The Collateral Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document. The Collateral Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent jurisdiction determines that the Collateral Agent's willful misconduct was the primary cause of any loss to any person. Reliance. The Collateral Agent may rely and shall be protected in acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper Party or Parties. The Collateral Agent shall not incur any liability for following the instructions herein expressly provided for, or written instructions given by the Pledgor. Agents and Attorneys. The Collateral Agent may execute any of its powers and perform any of its duties hereunder directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Collateral Agent shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. Disputes. In the event that the Collateral Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any person which, in its opinion, conflict with any of the provisions of this Collateral Agreement or the directions of the Pledgor, it shall be entitled to refrain from taking any action and its sole Obligation shall be to keep safely all property held in Collateral until it shall be directed otherwise in writing by the Pledgee or by a final order or judgment of a court of competent jurisdiction. Consequential Damages. Anything in this Collateral Agreement to the contrary notwithstanding, in no event shall the Collateral Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Collateral Agent has been advised of the likelihood of such loss or damage and regardless of the form of action. RESIGNATION AND REMOVAL The Collateral Agent may resign and be discharged from its duties or Obligations hereunder by giving [NUMBER OF DAYS] days' advance notice of such resignation, specifying a date when such resignation shall take effect. The Collateral Agent may be removed and discharged from its duties or Obligations hereunder by the Pledgor giving [NUMBER OF DAYS] days' advance notice of such removal and specifying a date when such removal shall take effect. If a successor as Collateral Agent shall be appointed and accept such appointment prior to the effective date of such resignation or discharge (the \"Effective Date\"), the Collateral Agent shall transfer the Collateral Fund to the successor, together with its information as to subaccounts. If no such successor is so appointed, the Collateral Agent shall turn over the Collateral Fund and its information about subaccounts to the Pledgor on the Effective Date. In either case, the Collateral Agent shall have the right to withhold and pay to itself from the Collateral Fund an amount equal to any amount due and owing to the Collateral Agent, plus any costs and expenses the Collateral Agent shall reasonably believe may be incurred by the Collateral Agent in connection with its resignation or removal. SUCCESSION UPON MERGER, ETC. OF COLLATERAL AGENT Any corporation into which the Collateral Agent in its individual capacity may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Collateral Agent in its individual capacity shall be a party, or any corporation to which substantially all the corporate trust business of the Collateral Agent in its individual capacity may be transferred, shall be the Collateral Agent under this Collateral Agreement without further act. COMPENSATION AND EXPENSES OF COLLATERAL AGENT","Collateral Agreement","7","https://templates.business-in-a-box.com/imgs/1000px/collateral-agreement-D13257.png","https://templates.business-in-a-box.com/imgs/250px/13257.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13257.xml",{"title":168,"description":6},"collateral agreement",[170,173],{"label":171,"url":172},"Human Resources","human-resources",{"label":174,"url":175},"Company Policies","company-policies","/template/collateral-agreement-D13257",false,{"seo":179,"reviewer":190,"legal_disclaimer":177,"quick_facts":194,"at_a_glance":196,"personas":200,"variants":225,"glossary":252,"fields":283,"how_to_fill":328,"common_mistakes":369,"faqs":386,"industries":411,"comparisons":428,"diy_vs_pro":441,"related_template_ids_curated":454,"schema":465,"classification":467},{"meta_title":180,"meta_description":181,"primary_keyword":15,"secondary_keywords":182},"Approbation Of Financing Application Template | BIB","Free approbation of financing application template. Formally record approval decisions on loan and credit requests with structured fields for terms",[183,184,185,186,187,188,189],"financing application approval form","loan approval form template","credit application approval template","financing approval letter template","business loan approval document","financing approbation form word","loan approval form free download",{"name":191,"credential":192,"reviewed_date":193},"Bruno Goulet","CEO, Business in a Box","2026-05-02",{"difficulty":195,"legal_review_recommended":177,"signature_required":177},"easy",{"what_it_is":197,"when_you_need_it":198,"whats_inside":199},"An Approbation of Financing Application is a structured form used by lenders, internal credit committees, or finance departments to formally record the approval of a borrower's financing request. This free Word download captures the applicant's details, the approved loan amount, interest rate, repayment terms, and any conditions attached to the approval — all in one concise document you can edit online and export as PDF.\n","Use it whenever a financing request has been reviewed and a positive decision has been reached — whether for a business loan, line of credit, equipment financing, or internal capital allocation. It documents the approval before funds are disbursed and establishes the agreed terms on record.\n","Applicant and lender identification, the approved financing amount and purpose, interest rate and repayment schedule, specific conditions of approval, and an authorization block confirming who approved the request and on what date.\n",[201,205,209,213,217,221],{"title":202,"use_case":203,"icon_asset_id":204},"Bank loan officers","Documenting approval decisions on commercial and personal loan applications","persona-bank-officer",{"title":206,"use_case":207,"icon_asset_id":208},"Small business owners","Receiving formal written confirmation of an approved business financing request","persona-small-business-owner",{"title":210,"use_case":211,"icon_asset_id":212},"Internal finance managers","Recording approval of capital allocation or internal lending between entities","persona-finance-manager",{"title":214,"use_case":215,"icon_asset_id":216},"Credit unions and cooperatives","Issuing structured approval notices to member borrowers after committee review","persona-credit-union",{"title":218,"use_case":219,"icon_asset_id":220},"Equipment leasing companies","Confirming approval of equipment financing with specific asset and term details","persona-leasing-company",{"title":222,"use_case":223,"icon_asset_id":224},"CFOs and controllers","Maintaining an auditable approval trail for all financed liabilities on the balance sheet","persona-cfo",[226,230,234,237,240,244,248],{"situation":227,"recommended_template":228,"slug":229},"Approving a commercial bank loan for a small business","Approbation Of Financing Application","approbation-of-financing-application-D244",{"situation":231,"recommended_template":232,"slug":233},"Declining a financing request with documented reasons","Loan Rejection Letter","letter-of-rejection-for-job-applicant-D13496",{"situation":235,"recommended_template":87,"slug":236},"Issuing a formal loan agreement after approval","loan-agreement-D417",{"situation":238,"recommended_template":239,"slug":236},"Documenting a personal loan between individuals","Personal Loan Agreement",{"situation":241,"recommended_template":242,"slug":243},"Approving a revolving line of credit","Line of Credit Agreement","line-of-credit-agreement-D14003",{"situation":245,"recommended_template":246,"slug":247},"Capturing the original financing request before review","Loan Application Form","loan-application_review-form-D419",{"situation":249,"recommended_template":250,"slug":251},"Confirming equipment financing terms and asset details","Equipment Financing Agreement","financing-agreement-D877",[253,256,259,262,265,268,271,274,277,280],{"term":254,"definition":255},"Approbation","Formal approval or sanction of a request — in financing contexts, the official decision confirming that a loan or credit application has been accepted.",{"term":257,"definition":258},"Principal Amount","The original sum of money approved for lending, before interest or fees are added.",{"term":260,"definition":261},"Interest Rate","The percentage charged on the outstanding principal balance, expressed as an annual rate (APR) or periodic rate.",{"term":263,"definition":264},"Repayment Schedule","The agreed timeline and cadence for repaying the loan, including payment frequency, installment amount, and final maturity date.",{"term":266,"definition":267},"Conditions of Approval","Specific requirements the borrower must satisfy before or after funds are disbursed — such as providing collateral, maintaining insurance, or meeting financial covenants.",{"term":269,"definition":270},"Collateral","An asset pledged by the borrower to secure the loan, which the lender may seize if the borrower defaults on repayment.",{"term":272,"definition":273},"Disbursement","The actual transfer of approved loan funds to the borrower, which typically occurs after all conditions of approval have been met.",{"term":275,"definition":276},"Credit Committee","An internal group within a lending institution responsible for reviewing financing applications and issuing formal approval or rejection decisions.",{"term":278,"definition":279},"Covenant","A binding obligation in a financing agreement requiring the borrower to do — or refrain from doing — specific things during the loan term, such as maintaining a minimum current ratio.",{"term":281,"definition":282},"Maturity Date","The date on which the final loan repayment is due and the full outstanding balance must be settled.",[284,289,294,299,304,309,314,318,323],{"name":285,"plain_english":286,"sample_language":287,"common_mistake":288},"Applicant Information","Full legal name, address, and contact details of the individual or business entity requesting financing.","Applicant Name: [APPLICANT LEGAL NAME] | Address: [STREET, CITY, STATE, ZIP] | Phone: [PHONE NUMBER] | Email: [EMAIL ADDRESS]","Using a trade name instead of the registered legal entity name — lenders and auditors need the legal name to match incorporation and banking records.",{"name":290,"plain_english":291,"sample_language":292,"common_mistake":293},"Application Reference Number","A unique identifier linking this approbation to the original financing application on file.","Application Reference: [APP-YYYY-NNNN] | Original Application Date: [DATE]","Omitting the reference number, which makes it impossible to match the approbation to the underlying application during audits or disputes.",{"name":295,"plain_english":296,"sample_language":297,"common_mistake":298},"Approved Financing Amount","The exact dollar amount approved, stated in the applicable currency, along with the financing purpose.","Approved Amount: $[AMOUNT] [CURRENCY] | Purpose of Financing: [DESCRIPTION OF USE — e.g., equipment purchase, working capital, real estate acquisition]","Stating a range instead of a specific approved amount. Disbursement and repayment schedules cannot be calculated from an approximate figure.",{"name":300,"plain_english":301,"sample_language":302,"common_mistake":303},"Interest Rate and Fee Structure","The annual interest rate applied to the outstanding balance, plus any origination fees, administrative charges, or penalty rates for late payment.","Interest Rate: [X]% per annum ([FIXED / VARIABLE]) | Origination Fee: $[AMOUNT] | Late Payment Penalty: [X]% per month on overdue balance","Noting only the nominal rate without specifying whether it is fixed or variable — a variable rate without a reference index and adjustment cap creates future disputes.",{"name":305,"plain_english":306,"sample_language":307,"common_mistake":308},"Repayment Terms","The loan term in months, payment frequency, and installment amount — enough detail for the borrower to set up automatic payments immediately.","Term: [X] months | Payment Frequency: [Monthly / Bi-weekly] | Installment Amount: $[AMOUNT] | Maturity Date: [DATE]","Listing term length without specifying the payment frequency or installment amount, leaving the borrower unable to act on the approval without a follow-up conversation.",{"name":310,"plain_english":311,"sample_language":312,"common_mistake":313},"Collateral Description","Identifies any assets pledged as security for the loan, including a description and estimated value at the time of approval.","Collateral: [ASSET DESCRIPTION — e.g., 2023 Caterpillar 320 Excavator, VIN XXXXXXXXX] | Estimated Value: $[AMOUNT] | Lien Position: [FIRST / SECOND]","Describing collateral vaguely (e.g., 'equipment') rather than by make, model, serial number, and value — vague descriptions complicate enforcement if the borrower defaults.",{"name":266,"plain_english":315,"sample_language":316,"common_mistake":317},"Specific requirements the borrower must meet before or during the loan term — such as providing insurance certificates, maintaining financial ratios, or restricting additional borrowing.","Conditions: (1) Borrower must provide proof of [INSURANCE TYPE] coverage of no less than $[AMOUNT] prior to disbursement. (2) Borrower shall maintain a current ratio of no less than [X]:1 throughout the loan term.","Listing conditions as vague intentions rather than measurable, verifiable obligations — conditions like 'maintain good financial standing' cannot be enforced.",{"name":319,"plain_english":320,"sample_language":321,"common_mistake":322},"Approval Authorization Block","Records the name, title, and date of the individual or committee that authorized the approval, creating the official decision trail.","Approved by: [APPROVER NAME] | Title: [TITLE] | Department / Committee: [NAME] | Approval Date: [DATE] | Reference ID: [INTERNAL APPROVAL CODE]","Leaving the authorization block blank or using only a signature without a printed name and title — unsigned or unidentified approvals have no audit value.",{"name":324,"plain_english":325,"sample_language":326,"common_mistake":327},"Disbursement Instructions","States how and when approved funds will be transferred to the borrower — wire, ACH, cheque, or direct account credit — and any conditions that must be met first.","Disbursement Method: [WIRE TRANSFER / ACH / CHEQUE] | Account: [ACCOUNT NUMBER] | Expected Disbursement Date: [DATE] | Conditions Precedent to Disbursement: [LIST ANY OUTSTANDING CONDITIONS]","Omitting disbursement instructions from the approbation form and leaving them to a separate email — the approval document should be self-contained.",[329,334,339,344,349,354,359,364],{"step":330,"title":331,"description":332,"tip":333},1,"Enter the applicant's legal entity details","Fill in the borrower's full registered legal name, address, and primary contact. Cross-reference the original application to confirm the name matches incorporation documents.","For business applicants, include both the legal entity name and the operating trade name if they differ, to prevent processing delays.",{"step":335,"title":336,"description":337,"tip":338},2,"Record the application reference number and original date","Enter the unique reference number assigned to the financing application at submission. This links the approbation to every document in the credit file.","Use a consistent numbering format — APP-YYYY-NNNN — so approbations can be sorted and retrieved by year without a database query.",{"step":340,"title":341,"description":342,"tip":343},3,"State the approved amount, currency, and purpose","Enter the exact approved dollar amount in the applicable currency. Describe the financing purpose in enough detail to distinguish it from other facilities the borrower may hold.","If the approved amount differs from the amount requested, note both figures and add a brief explanation — this prevents borrower confusion and potential disputes.",{"step":345,"title":346,"description":347,"tip":348},4,"Specify the interest rate, fee structure, and rate type","Enter the annual interest rate, state whether it is fixed or variable, and list all fees. For variable rates, name the reference index (e.g., Prime + 2%) and any rate cap.","Express the effective APR in addition to the nominal rate — it gives borrowers and auditors a single comparable figure.",{"step":350,"title":351,"description":352,"tip":353},5,"Define repayment terms with specific dates and amounts","Enter the loan term in months, payment frequency, installment amount, and the exact maturity date. Calculate the installment amount before filling it in — do not leave it as a formula placeholder.","Include the first payment due date explicitly; many borrowers assume a 30-day grace period that does not exist.",{"step":355,"title":356,"description":357,"tip":358},6,"Describe collateral with identifying details","List each pledged asset by make, model, serial number or VIN, and estimated value. Note the lender's lien position if other creditors have prior claims on the asset.","Attach a separate collateral schedule as an appendix for complex multi-asset security packages rather than cramming all details into the form body.",{"step":360,"title":361,"description":362,"tip":363},7,"List conditions of approval as measurable obligations","Write each condition as a specific, verifiable action with a deadline — avoid open-ended language. Distinguish between conditions precedent to disbursement and ongoing covenants.","Number each condition and leave a checkbox column so the lending officer can tick off each one as it is satisfied before releasing funds.",{"step":365,"title":366,"description":367,"tip":368},8,"Complete the authorization block and file the document","Enter the approver's printed name, title, department or committee, and the exact approval date. File the signed original in the credit file and send a copy to the borrower.","Date-stamp the document at the time of filing — approval date and file date sometimes differ, and both matter for compliance purposes.",[370,374,378,382],{"mistake":371,"why_it_matters":372,"fix":373},"Vague conditions of approval","Conditions written as general expectations — 'maintain financial health' — cannot be monitored, measured, or enforced, leaving the lender with no contractual basis to act if the borrower's position deteriorates.","Replace every condition with a specific, measurable obligation: a minimum ratio, a maximum leverage level, a hard deadline, or a document to be delivered by a named date.",{"mistake":375,"why_it_matters":376,"fix":377},"Missing application reference number","Without a reference number, the approbation cannot be matched to the original application, credit analysis, or supporting documents — turning an audit into a manual search exercise.","Assign a unique reference number at the time the application is submitted and carry it through every subsequent document in the credit file, including the approbation.",{"mistake":379,"why_it_matters":380,"fix":381},"Omitting the rate type on variable-rate approvals","An approval that states only '5% interest' without specifying fixed or variable — and if variable, the index and cap — exposes both parties to disputes when market rates move.","Always state the rate type explicitly. For variable rates, write the full formula: '[INDEX RATE] + [MARGIN]%, capped at [MAX RATE]%' and reference the adjustment frequency.",{"mistake":383,"why_it_matters":384,"fix":385},"Incomplete authorization block","An approbation without a printed approver name and title has no clear chain of authority — regulators, auditors, and courts cannot establish who made the credit decision or whether they had the authority to do so.","Require printed name, title, department, and date as mandatory fields. A signature alone is insufficient for institutional credit files.",[387,390,393,396,399,402,405,408],{"question":388,"answer":389},"What is an approbation of financing application?","An approbation of financing application is a formal document issued by a lender or credit committee to confirm that a borrower's financing request has been reviewed and approved. It records the approved amount, interest rate, repayment terms, collateral, and any conditions the borrower must meet before or during the loan. It is the official decision record that precedes disbursement and forms part of the permanent credit file.\n",{"question":391,"answer":392},"What is the difference between a financing approbation and a loan agreement?","An approbation records the internal approval decision and communicates approved terms to the borrower. A loan agreement is the binding legal contract both parties sign to formalize those terms and govern the ongoing relationship. The approbation typically comes first and establishes the terms that the loan agreement will formalize. You need both — the approbation for the decision trail, the agreement for enforceability.\n",{"question":394,"answer":395},"Does a financing approbation need to be signed?","A signature is not legally required to make an approbation valid as an internal administrative record, but best practice is to have the approving officer or credit committee representative complete the authorization block with a printed name, title, and date. This creates an auditable chain of authority and is typically required by banking regulators and internal compliance standards.\n",{"question":397,"answer":398},"What conditions are typically included in a financing approbation?","Common conditions include: delivery of an insurance certificate covering pledged collateral, execution of a security agreement or mortgage, registration of a lien or financing statement, maintenance of a minimum current ratio or debt-service coverage ratio throughout the term, and restrictions on additional borrowing without prior lender consent. Each condition should be specific and verifiable.\n",{"question":400,"answer":401},"Who issues an approbation of financing application?","It is issued by whoever has the authority to approve the financing — a bank loan officer, a credit committee, an internal finance manager, or a board treasurer for non-profit or cooperative lenders. The approbation should reflect the approver's identity and authority level clearly in the authorization block.\n",{"question":403,"answer":404},"How long should a financing approbation be kept on file?","Retain the approbation for the full term of the loan plus a minimum of 7 years after final repayment in most jurisdictions, to satisfy tax, audit, and regulatory record-keeping requirements. For regulated financial institutions, check applicable banking regulations in your jurisdiction — some require retention periods of up to 10 years.\n",{"question":406,"answer":407},"Can a financing approbation be used for internal intercompany loans?","Yes. An approbation form is equally useful for internal capital allocation between parent and subsidiary entities or between related companies. Using a formal approbation for intercompany financing establishes arm's-length documentation, supports transfer-pricing compliance, and creates a clear record for consolidated financial reporting and tax purposes.\n",{"question":409,"answer":410},"What happens if conditions listed in the approbation are not met?","If conditions precedent to disbursement are not met, the lender is not obligated to release funds. If ongoing covenants are breached after disbursement, the lender typically has the right to declare the loan in default, demand immediate repayment, or enforce against pledged collateral. Well-drafted conditions make this process straightforward; vague conditions make it difficult to act.\n",[412,416,420,424],{"industry":413,"icon_asset_id":414,"specifics":415},"Banking and Financial Services","industry-fintech","Used by commercial lenders to document approval decisions on business loans, lines of credit, and mortgage applications as part of regulated credit file requirements.",{"industry":417,"icon_asset_id":418,"specifics":419},"Construction and Real Estate","industry-construction","Approves project financing, equipment loans, and construction lines with conditions tied to lien registration, insurance, and draw-schedule milestones.",{"industry":421,"icon_asset_id":422,"specifics":423},"Manufacturing","industry-manufacturing","Documents approval of equipment financing and working capital facilities, with collateral schedules covering machinery, inventory, and accounts receivable.",{"industry":425,"icon_asset_id":426,"specifics":427},"Professional Services","industry-professional-services","Used by accounting and advisory firms managing client financing applications, or internally by partnerships approving capital contributions and partner draws.",[429,432,435,438],{"vs":87,"vs_template_id":430,"summary":431},"loan-agreement-D162","A loan agreement is the binding legal contract that governs the full borrower-lender relationship — signed by both parties and enforceable in court. An approbation of financing application is the internal approval record that precedes the agreement. The approbation documents the decision; the agreement documents the obligation. Both are needed for a complete credit file.",{"vs":246,"vs_template_id":433,"summary":434},"","A loan application is submitted by the borrower to request financing and captures their financial information, loan purpose, and repayment capacity. The approbation is the lender's response — recording the approval decision and approved terms. They document opposite sides of the same transaction and should be filed together.",{"vs":239,"vs_template_id":436,"summary":437},"personal-loan-agreement-D12714","A personal loan agreement is a bilateral contract between two individuals governing loan terms and repayment. An approbation of financing application is an institutional form used by lenders to record internal approval decisions before a formal agreement is executed. Personal loans between individuals typically go straight to a loan agreement without a separate approbation step.",{"vs":439,"vs_template_id":433,"summary":440},"Letter of Intent (Financing)","A letter of intent in a financing context signals a lender's non-binding interest in providing financing, subject to due diligence. An approbation is a post-review, post-approval document confirming that due diligence is complete and specific terms have been approved. The letter of intent comes earlier in the process; the approbation closes it.",{"use_template":442,"template_plus_review":446,"custom_drafted":450},{"best_for":443,"cost":444,"time":445},"Lenders, finance managers, and credit officers issuing standard commercial or internal financing approvals","Free","10–15 minutes per approbation",{"best_for":447,"cost":448,"time":449},"Regulated financial institutions or lenders adding custom covenant language and jurisdiction-specific compliance fields","$100–$300 (compliance officer or legal review)","1–2 hours",{"best_for":451,"cost":452,"time":453},"Banks or credit unions requiring approbation forms integrated into a regulated loan origination system with audit trail requirements","$500–$2,000+ (legal and systems configuration)","1–5 days",[236,236,455,456,457,458,459,460,461,462,463,464],"promissory-note-D434","bank-loan-application-form-and-checklist-D461","credit-note-D13639","investment-proposal-D13992","letter-of-intent_acquisition-of-business-D5197","collateral-agreement-D13257","security-agreement-D915","non-disclosure-agreement-nda-D12692","business-plan-template-D12528","financial-projections_12-months-D360",{"emit_how_to":466,"emit_defined_term":466},true,{"primary_folder":96,"secondary_folder":468,"document_type":469,"industry":470,"business_stage":471,"tags":472,"confidence":476},"business-financing-and-loans","form","general","all-stages",[469,473,474,475],"financing-approval","loan-application","credit-decision",0.95,"\u003Ch2>What is an Approbation of Financing Application?\u003C/h2>\n\u003Cp>An \u003Cstrong>Approbation of Financing Application\u003C/strong> is a structured administrative form used by lenders, credit committees, and finance departments to formally record the approval of a borrower's financing request. It captures the applicant's details, the approved loan amount and purpose, interest rate and repayment schedule, collateral requirements, and any conditions that must be satisfied before or during the loan term. The form closes the approval stage of the lending process and creates the documented decision trail that precedes fund disbursement and the execution of a binding loan agreement.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Without a formal approbation on file, the gap between a verbal approval and actual disbursement is undocumented — leaving both lender and borrower exposed to disputes over what terms were actually agreed. Auditors and regulators require evidence of a credit decision with an identified approver and a specific approval date; a file that contains only a signed loan agreement but no approbation record cannot demonstrate that a proper approval process occurred. For internal finance teams, an approbation creates an auditable link between the financing request, the credit analysis, and the final agreement, making year-end reviews and intercompany reconciliations straightforward rather than a reconstruction exercise. This template gives you a complete, professional approval record in under 15 minutes.\u003C/p>\n",1778773562250]