Applying for a Loan Clause Samples
The 'Applying for a Loan' clause outlines the process and requirements for a party to formally request a loan from a lender. It typically specifies the necessary documentation, eligibility criteria, and the steps the applicant must follow, such as submitting financial statements or completing application forms. This clause ensures that both parties understand the procedural expectations and helps streamline the loan approval process by setting clear guidelines for application.
Applying for a Loan. 2.1 An application for a home loan (mortgage) may be made by completing the relevant loan application form as provided by the Credit Union for this purpose. Unless we already hold it, you must supply us with all necessary information and documentation to satisfy our obligations to identify you under legislation to combat money laundering and terrorist financing.
2.2 In agreeing to advance the home loan, you agree to borrow funds subject to the terms and conditions set out in the letter of offer.
2.3 We reserve the right to withdraw or vary approval at any time before the completion of the mortgage transaction. You may also withdraw before the completion of the mortgage transaction.
Applying for a Loan. 2.1 An application for a Home Renovation Loan may be made by completing the relevant loan application form as provided by the Credit Union for this purpose. Unless we already hold it, you must supply us with all necessary information and documentation to satisfy our obligations to identify you under legislation to combat money laundering and terrorist financing.
2.2 In line with standard lending practices, all loans provided by Member First Credit Union Ltd. are subject to assessment by the Credit Union of the member’s financial status and borrowing history.
2.3 In agreeing to advance the loan, you agree to borrow funds subject to the terms and conditions set out in the credit agreement.
2.4 We reserve the right to decline a loan application.
Applying for a Loan. 2.1 An application for a general loan may be made by completing the relevant loan application form as provided by the Credit Union for this purpose. Unless we already hold it, you must supply us with all necessary information and documentation to satisfy our obligations to identify you under legislation to combat money laundering and terrorist financing.
2.2 In line with standard lending practices, all loans provided by Member First Credit Union Ltd. are subject to assessment by the Credit Union of the member’s financial status and borrowing history.
2.3 In agreeing to advance the loan, you agree to borrow funds subject to the terms and conditions set out in the credit agreement.
2.4 We reserve the right to decline a loan application.
Applying for a Loan. An application for a Welcome Loan may be made by completing the relevant loan application form as provided by the Credit Union for this purpose. Unless we already hold it, you must supply us with all necessary information and documentation to satisfy our obligations to identify you under legislation to combat money laundering and terrorist financing.
Applying for a Loan. 2.1 An application for a covered loan may be made by completing the relevant loan application form as provided by the Credit Union for this purpose. Unless we already hold it, you must supply us with all necessary information and documentation to satisfy our obligations to identify you under legislation to combat money laundering and terrorist financing.
2.2 In line with standard lending practices, all loans provided by Member First Credit Union Ltd. are subject to assessment by the Credit Union of the member’s financial status and borrowing history.
2.3 In agreeing to advance the loan, you agree to borrow funds subject to the terms and conditions set out in the credit agreement.
2.4 We reserve the right to decline a loan application
3.1 The maximum term of a Covered Loan is typically 5 years.
Applying for a Loan. 2.1 An application for a covered loan may be made by completing the relevant application form as provided by the Credit Union for this purpose. Unless we already hold it, you must supply us with all necessary information and documentation to satisfy our obligations to identify you under legislation to combat money laundering and terrorist financing.
2.2 In agreeing to advance the loan, you agree to borrow funds subject to the terms and conditions set out in the credit agreement.
2.3 We reserve the right to decline a loan application.
Applying for a Loan. 2.1 An application for an Education Support Loan may be made by completing the relevant loan application form as provided by the Credit Union for this purpose. Unless we already hold it, you must supply us with all necessary information and documentation to satisfy our obligations to identify you under legislation to combat money laundering and terrorist financing.
2.3 In line with standard lending practices, all loans provided by Member First Credit Union Ltd. are subject to assessment by the Credit Union of the member’s financial status and borrowing history.
2.4 In agreeing to advance the loan, you agree to borrow funds subject to the terms and conditions set out in the credit agreement.
2.5 We reserve the right to decline a loan application.
Applying for a Loan. 2.1 An application for a Self-Care Loan may be made by completing the relevant loan application form as provided by the Credit Union for this purpose. Unless we already hold it, or its out or nearly out of date, you must supply us with all necessary information and documentation to satisfy our obligations to identify you under legislation to combat money laundering and terrorist financing.
2.2 In line with standard lending practices, all loans provided by Member First Credit Union Ltd. are subject to assessment by the Credit Union of the member’s financial status and borrowing history.
2.3 In agreeing to advance the loan, you agree to borrow funds subject to the terms and conditions set out in the credit agreement.
2.4 We reserve the right to decline a loan application.
Applying for a Loan. To apply for a Loan you must provide us with: • a fully completed Borrower Application Form. This must provide full details of the proposed Borrower, and if the Borrower is not a natural person, then full details of the natural people behind that entity; • a synopsis of your Proposal including a brief background about your situation, Loan amount requested, and details of how the Loan is to be repaid and of the security being offered; • servicing information i.e. where does the income come from and how much is it; • a fully completed statement of financial position, including assets and liabilities; • a fully completed monthly budget; • details of any property being offered for security; • signed authority for us to undertake appropriate enquires and credit checks; and • any other information we request in relation to you or your Proposal; and • if you are proposing any Guarantors, then the above information must be provided for each proposed Guarantor. This information will allow us to make an initial assessment of the Proposal, and we will respond by requesting further information or by providing a Letter of Offer.
Applying for a Loan. 2.1 An application for a Covered Loan may be made by completing the relevant loan application form as provided by the Credit Union for this purpose. Unless we already hold it, or its out or nearly out of date, you must supply us with all necessary information and documentation to satisfy our obligations to identify you under legislation to combat money laundering and terrorist financing.
2.2 In line with standard lending practices, all loans provided by Member First Credit Union Ltd. are subject to assessment by the Credit Union of the member’s financial status and borrowing history.
2.3 In agreeing to advance the loan, you agree to borrow funds subject to the terms and conditions set out in the credit agreement.
2.4 We reserve the right to decline a loan application.