General Guidelines
Number of years of tax returns that are minimally required for individuals
What is two (2) years of Personal Tax Returns?
Used Equipment
What is 80%
Frequency of Crop Inspection
What is annually?
Preliminary Title Report
What is Title Commitment?
Document that covers the repayment/terms of loan
What is the Promissory Note?
Age limit for interim business financials in order to be considered "current"
What is no greater than 120 days?
Commercial Developed Land Lots
What is 75%?
Age of a current appraisal for a new loan
What is within 12 months?
FEMA Flood Zones
What is Flood Zone Determination?
Agreement that individuals/entities promise to repay debt "they didn't borrow"
What is a Guaranty Agreement?
Ownership percentage to require guaranty
What is 25% or greater?
Inventory
What is 50%?
Loan Amount/Size for a commercial real estate evaluation
What is less than $500,000?
Report for property lines & easements
What is a Survey?
Document that houses affirmative covenants
What is Loan Agreement?
Age of a "current" credit bureau report
What is less than 6 months?
Recreational Ranch Land
What is 75%
Environmental Assessment study needed for loans with environmental concern
What is a Phase 1?
Document that serves as the Security Instrument
What is Deed of Trust?
Document that captures who owns more than 25% of an entity
What is Certificate of Beneficial Ownership?
Age of overdraft that would result in a charge off
What is 45 days?
Commercial Special-Use Real Estate
What is 70%
Inspection frequency for exotic livestock or game animals
What is Not Applicable? Financing for stocking, breeding or hunting operations involving exotic livestock or game animals is not acceptable use of bank funds and is prohibited.
Minimum Loan Size that requires the use of Construction Monitoring Company
What is $1,000,000?
Protects against clerical errors
What is Errors & Omissions Agreement?