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Commercial Loan Application

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1. Applicant & Business

Basic business information
If the loan requested will be secured by Residential Real Estate and is not a line of credit, additional collateral information may be required.

2. Guarantors

The bank generally requires principals of closely held entities to apply as guarantors.
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5. Credit Type & Acknowledgment

Select one and initial, if applicable

You, as applicant or guarantor, hereby warrant and represent that the information contained in this application and submitted herewith is complete, true and correct. You acknowledge and understand that QNB Bank will rely on such information when considering your request. You authorize the Bank or any affiliated companies to make all inquiries that it deems necessary to verify the accuracy of the information provided. You authorize the Bank or any affiliated companies to investigate your credit record, as well as any parties or entities which may be related to this application either now or in the future.

If your gross annual revenues in the previous fiscal year were $1,000,000 or less and your credit request is denied, you have the right to request the reasons for such denial in writing within 60 days from the date that we notify you.

You acknowledge receipt of the attached “Right to Receive A Copy of an Appraisal” as of the date of this application.

6. Signatures

Complete after reviewing the application

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Required Information & Regulation B Disclosure

Loan documentation checklist
Required Information

Check each item as it is received and record the date received.

RequiredDate ReceivedRequired Information
1. Three years of accountant-prepared annual financial statements, including balance sheet, income statement and notes.
2. Three years of business tax returns including all schedules.
3. Current interim financial statement.
4. Three years of personal tax returns (1040), including complete K-1 filings.
5. Completed, signed and dated Personal Financial Statement.
6. Accounts receivable aging and accounts payable aging.
7. Invoice or purchase order for asset requested to be financed.
8. Agreement of Sale.
9. Copies of executed leases.
10. Rent roll.
11. Schedule of company and/or personal debt with monthly payment amounts.
12. Organizational documents for all entities.
13. Borrowing resolution indicating authorized signers.
14. Other:

QNB Bank reserves the right to request additional information, if necessary, in order to adequately analyze the request for credit.

If real estate is being offered/required as security for the requested credit:

REGULATION B DISCLOSURE

“RIGHT TO RECEIVE A COPY OF AN APPRAISAL”

If your loan is secured by a first lien on a dwelling and an appraisal is ordered you will automatically receive a copy of the appraisal.

If an appraisal is ordered on real estate other than a first lien on a dwelling, you have the right to a copy of the appraisal report used in connection with your application for credit.

If you wish to receive a copy, please write to us at the following address:

QNB Bank
Attention: Commercial Loan Appraisals
P.O. Box 9005
Quakertown, PA 18951-9005

We must hear from you no later than 90 days after we notify you about the action taken on your credit application or you withdraw your application.

In your letter of request, please provide the borrower’s full name and mailing address as well as the address of the property that was appraised.

You will be required to reimburse the Bank for the cost of the appraisal either at settlement or upon receipt of the appraisal.

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Demographic Information of Applicant & Co-Applicant

Complete only when applicable

Complete this form only if the borrower is a “natural person” AND loan is secured, in whole or in part, by a residential property including mixed use and multi-family dwellings AND the loan is for the purpose of improvement, purchase or refinance of any residential dwelling. Do not complete this form for an “entity” (Family Trust, LLC, LLP, Partnership or Corporation) or if the loan requested is a line of credit.

The purpose of collecting this information is to help ensure that all applicants are treated fairly and that the housing needs of communities and neighborhoods are being fulfilled. For residential mortgage lending, Federal law requires that we ask applicants for their demographic information (ethnicity, race, and sex) in order to monitor our compliance with equal credit opportunity, fair housing, and home mortgage disclosure laws. You are not required to provide this information, but are encouraged to do so. You may select one or more “Hispanic or Latino” origins and one or more designations for “Race.”

The law provides that we may not discriminate on the basis of this information, or on whether you choose to provide it. However, if you choose not to provide the information and you have made this application in person, Federal regulations require us to note your ethnicity, race, and sex on the basis of visual observation or surname. If you do not wish to provide some or all of this information, please check the applicable box.

APPLICANT
CO-APPLICANT
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Loan Originator Certification

To be completed by Loan Originator

Applicant

Co-Applicant

DO NOT COMPLETE UNLESS THIS IS A HMDA REPORTABLE LOAN

7. Review

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