Credit Evaluation School - May 2023

Internal Use Only

Primary Documents Security Agreement: A document that provides a lender a security interest in a specified asset or property that is pledged as collateral (may be included within the promissory note).

Internal Use Only

Primary Documents Borrowing Resolution: A corporate resolution that authorizes borrowing is often referred to a borrowing resolution. This resolution indicates that the members (LLC) or Board of Directors (Corporation) have held a meeting and conducted a vote allowing the company to borrow a specific loan amount.