GLCF Credit Report and Deposit Consent Form

Name of GLCF Loan Officer you are working with:*

Business Owner*

First NameLast Name

Business Name*

Contact Number*

Area CodePhone Number

E-mail*

Address*

Street Address

Street Address Line 2

CityState / Province

Postal / Zip CodeCountry

I, First Name Last Name , give GLCF 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 Great Lakes Commercial Finance for $2,500, or one percent of the net debenture proceeds, whichever is less. This deposit covers GLCF’s administrative and processing costs. 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 GLCF, 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.

*Please note that the application deposit, along with the closing fees built into the loan authorization, are designed to cover all closing costs. However, the cost of title work is based on the size of the project, and if the project is substantial in size, additional funds may be required to be brought to the closing, or an invoice for the difference will be sent after the loan funds.

Withdrawal of Application Before SBA Approval:

If the Applicant withdraws its loan application at any time before the SBA issues the Authorization (approval), GLCF 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 GLCF, 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the Applicant withdraws its loan application after the SBA issues the SBA Authorization, or if the SBA Authorization is withdrawn, canceled, or terminated for any reason, the Applicant forfeits the entire Application Deposit.

How would you like to submit your application deposit?

Via Check - Click here, and within two business days, an invoice will be sent over via email.Payment via Credit Card or ACH: Please refer to the link directly below. Any fees associated with this transaction will be added to your loan closing costs. Credit card payments incur up to a 3.5% fee, while ACH payments have up to a $15.00 fee.If your 504 loan is under $250,000 your deposit will be less than $2,500. In these cases, we will send you an invoice for the adjusted amount.

Please use the link below for ACH or Credit Card payments totaling $2,500 only. If your loan is under $250,000, please check the proper box above and a customized invoice will be emailed to you with options to pay via credit card, ACH, or check.

Pay Via Credit Card or ACH

Signature

*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. The standard ACH fee is $15.00, and subject to any additional fees your bank may charge.

GLCF Credit Report and Deposit Consent Form

Consent to Order Credit Reports

Application Deposit