Overdraft Protection Application For Business

Watertown Savings Bank

 

 

The interest rate on Overdraft Protection Lines of Credit for Business is 3% above the Wall Street Journal Prime Rate. Each month you will have the option of paying the balance in full or minimum monthly payments of 1.75% of the outstanding balance via automatic deductions from your business checking account. There is an annual fee of $50.

 
This application is a printable form, not an online submission.
Name of Business
Date
Amount Requested
($10,000 Maximum)
For checking account No:
Physical Address
Tax Identification Number
Teleaphaone:
Fax:
Type of Business
Sole Proprietor
Corporation
State:
(attach articles of incorporation)
Partnership
General
Limited
(attach articles of co-partnership)
Manufacturer Wholesaler
Retailer
Other (explain)

Product or Service:
Beginning Dates of:
Business:
Legal Entity:
Present
Management:
Proprietor, Partner, Guarantor and All Holders of Outstanding Stock - 100% of Ownership Must Be Shown
Name Social Security Address Percentage
Ownership
Guarantor U.S.
Citizen
yes
no
yes
no
yes
no
yes
no
yes
no
yes
no
Previous/Existing Watertown Savings Bank Relationship
Business
Personal
Loans
Deposits
Other:
Number of Employees:
Names and titles of persons authorized to borrow money in the name of the applicant:
1.
2.
Business Indebtedness
Furnish the following on all installment debts, contracts, notes and mortgages payable. Use separate sheet if necessary.
Name and Address of Noteholder Original Amount
& Date
Current
Balance
Payment
Amount
Terms/Maturity
(monthly etc.)
Type of Collateral
 
Business and Credit References
Furnish the following on all installment debts, contracts, notes and mortgages payable. Use separate sheet if necessary.
  Name Address Telephone
Attorney
Accountant
Insurance Agent
Depository Bank Type of Account Account Number Average Balance
Major Customers Average Annual Sale Contact/Telephone
Major Suppliers Average Annual Purchase Contact/Telephone
Please Attach the following documents
  1. Financial statements and tax returns of the business for the last three years.
  2. Tax returns of owner/guarantors for the past three years (A personal financial form will be mailed to you upon receipt of this application).
Real Estate
Leased: if leased, attach copy of lease
Owned: if owned, complete the following
Real Estate Owned: List each parcel separately. Use supplemental sheets if necessary. Attach appraisal(s) if available.
Title is in the name of:
Type of property
Address of Property
Original Cost
Date Purchased
Present Market Value
Tax Assessment Value
Detail any activity between applicant and subsidiary/affiliates including their names, address and percent ownership.
Federal, State Municipal and Payroll Taxes are current Yes No
Explain any delinquent taxes:
Are there any pending lawsuits against the business Yes No
If yes, explain:
 

 

Has your business ever declared bankruptcy Yes No
If yes, explain:
Is your business an endorser, guarantor, or co-maker of any obligations not listed on application Yes No
If yes, explain:
EQUAL OPPORTUNITY CREDIT NOTICE
Were your gross revenues $1,000,000 or less in the previous fiscal year Yes No

If you answered yes and the Creditor denies your application for credit, you have the right to a written statement of the specific reasons for denial.

The Federal Equal Credit Opportunity Act (and if applicable, comparable provisions of Massachusetts law) prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this Bank is the Federal Reserve Consumer Help Center, P.O.Box 1200, Minneapolis, MN 55480. The Massachusetts state agency that administers compliance with the state law is the Massachusetts Commission Against Discrimination, One Ashburton Place, Boston, MA 02108.

This information and the information provided on all accompanying financial statements and schedules is provided for the purpose of obtaining credit for the Applicant(s) or for the purpose of Applicant(s) guaranteeing credit of others. Applicant(s) acknowledge that representations made in this statement will be relied on by Creditor in its decision to grant such credit, and the applicant is true and correct in every detail and accurately represents the financial condition of the Applicant(s) on the date given below. Creditor is authorized to make all inquiries it deems necessary to verify the accuracy of the information contained herein and to determine the creditworthiness of the Applicant(s). Applicant(s) will promptly notify Creditor of any subsequent changes which would affect the accuracy of this Application. Creditor is further authorized to answer any question about Creditors' credit experience with Applicant(s). Applicant(s) are aware that any knowing or willful false statements for purposes of influencing the actions of Creditor can be violation of the federal law.

By signing below, each applicant declares that he/she has read and understands the statement above.

Signed Title Date
Signed Title Date
PLEASE NOTE: Review the app before you hit "print". For privacy reasons all data is cleared once you print.

 

 

 
For Bank Use Only
  Approved by
Terms
Declined by
Reasons

Date
 

Please mail or bring completed application to:

Watertown Savings Bank
Commercial Lending Department
60 Main Street
Watertown, MA 02472

or fax to 617-923-9575
For help completing the application please call 617-928-9000 during regular business hours.

 


Equal Housing Lender