Credit Evaluation School - May 2023

Reference Guide for Credit Documents

Borrowing Resolution • An approval from a company's governing Board authorizing the borrowing ofmoney. • Should be included when borrower is a company.

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Reference Guide for Credit Documents

Commitment Letter • Used with larger or more complex loans. • Written notice to applicant describing terms and conditions under which a loan has been approved. • Some conditions may need to be met prior to closing. • Requires applicants signature to accept the commitment.

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