Speculative development on the rise in Humboldt Industrial Park

CREDIT HISTORY The business and its principals must have satisfactory history of meeting debt obligations in a timely manner. Credit checks will be performed. Prior bankruptcy does not immediately deny requests. CASH FLOW The business must show adequate cash flow, historical and/or projected, to service the entire debt. COLLATERAL Collateral and personal guarantees are required...

CREDIT HISTORY

  • The business and its principals must have satisfactory history of meeting debt obligations in a timely manner.
  • Credit checks will be performed.
  • Prior bankruptcy does not immediately deny requests.

CASH FLOW

  • The business must show adequate cash flow, historical and/or projected, to service the entire debt.

COLLATERAL

  • Collateral and personal guarantees are required for the particular loan request.

MANAGEMENT

  • The business must demonstrate that it has experienced and adequate management to operate the company successfully.

BUSINESS PLAN

  • For start-up and new-to-market business; a Business Plan is required, including financial projections supported by assumptions.

INSURANCE

  • Hazard insurance must equal the value of the assets pledged.
  • Life insurance assignments are generally required on owners or key management personnel.

FEES

  • The borrower must pay all legal fees and any other closing costs.