Loan Application

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Please answer the questions below as completely as possible.  All fields with a red asterisk are required fields and must be answered in order for you to submit your application.

Please enter all currency values in whole numbers. Do not enter text, commas, periods or dollar signs ($). Doing so will result in errors.
Business Information


















Detail of Existing Debt




Please enter whole numbers in all balance and amount fields. Exclude commas, periods or dollar signs.



VEDC Loan Request

Please enter whole numbers in all balance and amount fields. Exclude commas, periods or dollar signs.


Please detail below the specific uses of the loan. You can enter more than one loan use by clicking on the link 'Add Another Loan Use'.









Personal Information












Please enter date in the format mm/dd/yyyy, for example 05/01/1965.




Other Shareholders, Members, Partners owning more than 20% of Business
The individuals identified below will receive separate Guarantor Loan Applications and will be asked to provide additional information needed for underwriting. Please advise them that they will be receiving email communication from VEDC shortly.







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Please enter all currency values in whole numbers. Do not enter text, commas, periods or dollar signs ($). Doing so will result in errors.
Personal Assets



Do not include the value of your own business. Only include liquid stocks & bonds in your brokerage account.





Owned Real Estate
















Personal Monthly Income and Expenses

Including spousal income in your household budget will often make it easier to qualify for a loan. However, he or she may be required to personally guarantee the loan.


Please enter estimated MONTHLY values in this section. Whole numbers only, no cents. NO text, commas, periods or dollar signs ($).







Monthly Expenses

Do not enter your mortgage payment since we will be using the amount from your personal credit report. Whole numbers only, no cents. NO text, commas, periods or dollar signs ($).

Please enter estimated MONTHLY values in this section. Whole numbers only, no cents. NO text, commas, periods or dollar signs ($).

Don't include student loans, only monthly out-of-pocket expenses for you or your dependents (i.e. tuition, books, uniforms, trips, etc).


Don't include medical insurance premiums. Only include monthly out-of-pocket medical expenses (i.e. office visits, deductibles, co-pays, prescription drugs, etc.).


Including yourself, spouse, or any other adults living in your household.

Personal Background







Please enter whole numbers only. NO text, commas, periods or dollar signs ($).


Demographic Data
Although optional, providing this data could qualify you for special assistance and/or additional financing options from various sources. Please select 'Decline to State' if you do not wish to furnish this information.




Page 3

Thank you for considering VEDC for your financing needs. Please gather the information listed in the Required Documents section below in preparation for a phone call or email that you will be receiving shortly from a VEDC representative. If you have immediate questions about this application or wish to provide this information sooner, please call us at (800) 304-1755.
Referral Information







Required Documents
Business Tax Returns
Your business tax returns for the last two (2) years will tell us if you are in compliance with IRS reporting requirements and whether or not you are making enough money to pay back a loan. 

UNDERWRITING TIP
Please be sure to alert your VEDC representative to the presence of non-recurring expenses, or if there are certain discretionary expenditures you would not have made if you had a loan payment to make.
Interim Financial Statements
Year-to-date financial statements provide us with a view of your most recent financial performance. Financial statements should include a balance sheet and income statement, but we'll take whatever you have.

FOR LOAN REQUESTS OF LESS THAN $50,000
If you only prepare financial statements for tax reporting purposes, then you may substitute business bank statements for the last 12 months so we can build our own income statement based on actual cash inflows and outflows.

Business Bank Statements
We will need to review your business bank statements for the last three (3) months to determine how the business is doing now compared to what you reported on your most recently filed tax returns and year to date financial statements.
Business Plan
A business plan should include a description of the business, management resumes, sales and marketing strategy, review of competition, and monthly profit and loss projections including assumptions for sales and expenses.

A/R and A/P Aging Reports
Detailed accounts receivable and account payable aging reports will help us determine your level of liquidity. We have various types of financing that can help you bridge the cash flow gap caused by slow paying customers and vendors demanding payment on terms of 30 days or less. 

Details of Asset Purchase
We will need to review the purchase agreement, contract, invoice, or order form describing the asset you are purchasing. This applies to a business acquisition, real estate purchase, or purchase of business assets such as vehicles, machinery & equipment, furniture & fixtures, or inventory.

Construction Budget
Financing for new construction or leasehold/tenant improvements must be supported by a detailed budget to include materials, supplies, permits, fees, and labor costs.
Personal Tax Return
Your personal tax return for the most recently filed year will detail various income sources we can consider for debt repayment.

Personal Bank Statements
Reviewing your personal bank statements for the last three (3) months will give us a complete view of your business and personal cash flow since we consider all income to be available for debt repayment.
Personal Outside Income
Evidence of wages, salaries, or other income earned from outside sources will be needed since you indicated that your income is now different than what you reported in your most recently filed tax returns. Current pay stubs are usually adequate.

Evidence of Legal Residence Status
Permanent or temporary legal status can be evidenced by providing a copy of your permanent resident card, employment authorization document, or visa granting rights to invest and/or work in the United States.

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