EDF Credit Report and Deposit Consent Form

Name of EDF Loan Officer you are working with: *

Business Owner *

First Name Last Name

Business Name *

Contact Number *

Area Code Phone Number

E-mail *

Address *

Street Address

Street Address Line 2

City State / Province

Postal / Zip Code Country

I, First Name Last Name , give EDF consent to order and review credit reports, as necessary, to determine the credit status of my business.

At the signing of this agreement, the Applicant agrees to make an application deposit payable to the Economic Development Foundation (EDF) in the amount of $2,500. Underwriting of the loan application cannot begin until this deposit is received. The deposit will be held in escrow and will be used to pay any third party, out-of-pocket expenses incurred by EDF, including, but not limited to, overnight delivery, postage, filing fees, administrative costs, environmental reports and certification fees.

Once the loan closes and funds, the unused balance of the Application Deposit will be refunded to the Applicant.

Withdrawal of Application Prior to SBA Approval:

If the Applicant withdraws its loan application at any time prior to the SBA issuing the Authorization (approval), EDF will deduct reasonable and necessary costs incurred in the packaging and processing of the loan application. Such costs will be documented in the file and available to the Applicant. Included in these costs will be any third party, out-of-pocket expenses incurred by EDF including, but not limited to, overnight delivery, postage, filing fees, environmental reports and certification fees. These costs may include a processing fee based on the number of hours invested in the processing. The remaining Application Deposit balance will be returned to the Applicant.

Withdrawal of Application After SBA Approval:

If the Applicant withdraws its loan application after the SBA issues the SBA Authorization, or if the SBA Authorization is withdrawn, cancelled or terminated for any reason, the Applicant forfeits the entire Application Deposit.

How would you like to submit your application deposit?

Check - Please send an invoice to the address listed above ACH Transfer - An email will be sent with further instructions* Credit Card Payment - Email with instructions will be sent*

Signature

Clear

*Please note that any fees associated with an ACH Transfer or Credit Card payment will be added as an administrative cost and deducted from the application deposit. Credit Card fees are 3.5% of the deposit amount plus an additional .30 cents transaction fee. The standard ACH fee is $3.00, and subject to any additional fees your bank may charge.

EDF Credit Report and Deposit Consent Form

Consent to Order Credit Reports

Application Deposit