Form Becu 616 PDF Details

The BECU 616 form, formally recognized as the Business Personal Financial Statement, serves a pivotal role in the process of obtaining credit for business purposes. This comprehensive document meticulously gathers information about a business's financial health and the personal financial details of its owners or stakeholders. Detailed sections within the form encompass a wide spectrum of financial aspects, including business and individual ownership details, a breakdown of assets versus liabilities, and an extensive itemization of assets such as cash on hand, life insurance value, real estate owned, and securities. Additionally, it addresses liabilities ranging from notes due to banks to credit card payables, ensuring a holistic view of the financial standing. The form not only facilitates the evaluation of a business's creditworthiness but also obliges the owners to provide accurate financial information under the acknowledgment that false statements can have legal consequences. At its core, the BECU 616 form underscores the importance of transparency in the credit application process, mandating that signatories authentically represent their financial condition to best assess their eligibility for credit approval.

QuestionAnswer
Form NameForm Becu 616
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesObligors, undersigned, endorser, guarantors

Form Preview Example

Business Personal Financial Statement

1. BUSINESS INFORMATION and OWNERSHIP

BUSINESS NAME AS INDICATED ON THE BUSINESS LOAN APPLICATION

 

INDIVIDUAL INFORMATION

 

JOINT INFORMATION

 

 

NAME

 

 

SOCIAL SECURITY NUMBER

NAME

 

 

SOCIAL SECURITY NUMBER

 

 

 

 

 

 

 

 

ADDRESS

 

 

 

ADDRESS

 

 

 

 

 

 

 

 

 

CITY

 

STATE

ZIP

CITY

 

STATE

ZIP

 

 

 

 

 

 

 

 

PHONE

 

EMAIL ADDRESS

PHONE

 

EMAIL ADDRESS

 

 

 

 

 

 

 

 

 

 

ASSETS

 

Note: Complete SCHEDULES first

LIABILITIES

 

 

 

Cash on Hand and in Banks

Sched. A

 

 

 

Notes Due to Banks

Sched. A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Value of Life Insurance

Sched. B

 

 

 

Notes Due to Relatives and Friends

Sched. H

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketable Securities

 

Sched. C

 

 

 

Credit Cards Payable

Sched. H

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans on Life Insurance Policies

Sched. H

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract Accounts Payable

Sched. H

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Liabilities Due within 1 Year - Itemize

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL LIQUID ASSETS

$

 

 

Taxes Due

Sched. H

 

 

 

Business Value

 

 

 

 

Margin Loans

Sched. H

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notes and Accounts Receivable - current

Sched. D

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notes and Accounts Receivable – over 90 days

Sched. D

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notes Due from Relatives and Friends

Sched. D

 

 

 

TOTAL SHORT TERM LIABILITIES

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Owned

 

Sched. E

 

 

 

Real Estate Mortgages Payable

Sched. E

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgages and Contracts Owned

Sched. F

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personal Property

 

Sched. G

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IRA and Tax Deferred Accounts

 

 

 

 

TOTAL LONG TERM LIABILITIES

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Assets – Itemize

(see attached itemization)

 

 

 

Total Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL LONG TERM ASSETS

$

 

 

Net Worth (Total Assets Minus Total Liabilities)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL ASSETS

 

 

 

 

TOTAL LIABILITIES AND NET WORTH

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ANNUAL INCOME

 

 

 

 

ESTIMATE OF ANNUAL EXPENSES

 

 

 

Salary Bonuses and Commissions

 

$

 

 

Income Taxes

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dividends and Interest

 

 

$

 

 

Other Taxes

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

Rental and Lease Income (Net)

 

$

 

 

Insurance Premiums

 

$

 

 

 

 

 

 

 

 

 

 

Alimony, child support, or separate maintenance income need not be revealed if you

 

Mortgage Payments

 

$

 

 

do not wish to have it considered as a basis for repaying this obligation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rent Payable

 

$

 

 

Other Income – Itemize

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provide the following information only if Joint Account:

 

 

 

 

Other Expenses

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Persons Salary, Bonuses, and Commissions

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alimony, child support, or separate maintenance income need not be revealed if you

 

 

 

 

 

 

 

do not wish to have it considered as a basis for repaying this obligation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Income – Itemize

 

 

$

 

 

 

 

 

 

 

 

TOTAL

 

 

$

 

 

TOTAL

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

GENERAL INFORMATION

 

 

 

CONTINGENT LIABILITIES

 

 

 

Are any assets pledged other than described on SCHEDULES

Yes

No

 

As endorser, Co-maker or guarantor

 

Yes

No

 

 

 

 

 

 

 

 

 

 

 

Are you a defendant in any suits or legal actions?

 

Yes

No

On leases or contracts

 

Yes

No

 

 

 

 

 

 

 

 

 

 

 

 

Date of most recent Income Tax return filed

 

Year:

 

 

Legal Claims

 

Yes

No

 

 

 

 

 

 

 

 

 

 

 

Have you ever been declared bankrupt in the last 10 years?

Yes

No

 

Federal – State Income Taxes

 

Yes

No

 

 

 

 

 

 

 

 

 

 

 

 

Are you partner or officer in any other venture

 

Yes

No

 

Other

 

Yes

No

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SCHEDULES

 

 

 

 

A. CASH IN BANKS AND NOTES DUE TO BANKS (List all Real Estate Loans in Schedule E)

 

Addition Information Requested

Name of Bank

Type of Account

Type of Ownership

On Deposit

Notes Due Banks

Collateral (if any) and Type of Ownership

Cash on Hand

See Attached Itemization

TOTALS $

$

BECU 616 7/2012

B. LIFE INSURANCE (List only those Policies that you own)

Company

Face of Policy

Cash Surrender

Value

Policy Loan from

Insurance Co.

Other Loans Policy as

Collateral

Beneficiary

See Attached Itemization

TOTALS

$

 

 

 

$

C. SECURITIES OWNED (Including U.S. Government Bonds and all other Stocks and Bonds)

Face Value-Bonds

Description

Type of

Cost

Market Value

Market Value

# of Shares/Stocks

(indicate those not registered in your name)

Ownership

U.S. Gov. Sec.

Marketable Sec.

 

 

 

 

 

 

 

Market Value

Not Readily

Marketable

Amount Pledged To Secured Loan

See Attached Itemization

TOTALS

$

 

 

 

$

$

D. NOTES AND ACCOUNTS RECEIVABLE (Money Payable or Owed to You Individually-Indicate % of your Ownership Interest)

Maker/Debtor

%

When Due

Original Amount

Balance Due

Current Accounts

Balance Due Over 90 Days

Balance Due Notes Relatives and Friends

Security (if any)

See Attached Itemization

TOTALS

$

 

 

 

E. REAL ESTATE OWNED (Indicate % of your Ownership Interest)

$

$

Title in Name Of

%

Description

Date

and Location

Acquired

 

 

Original Cost

Present Value of Real Estate

Balance Due

Mortgage or Contract Payable

Payment

Rent Income

Net Cash Flow

 

 

 

Maturity

See Attached Itemization

TOTAL

$

 

 

 

TOTAL $

F. MORTGAGES AND CONTRACTS OWNED (Indicate % of your Ownership Interest)

Cont.

Mtg.

%

 

Maker

Name

Address

 

 

Property Covered

Starting Date

Payment

Maturity

Balance Due

See Attached Itemization

TOTAL

$

G. PERSONAL PROPERTY (Indicate % of your Ownership Interest)

Description

%

Date When New

Cost When New

Value Today

Loans on Property

Balance Due

To Whom Payable

See Attached Itemization

TOTAL

$

 

 

 

H. NOTES, ACCOUNTS, BILLS AND CONTRACTS PAYABLE

Payable to

Other Obligors

When Due

Notes Due to

Notes Due “Others”

Accounts and Bills

(if any)

Relatives and Friends

Not Banks

 

 

 

 

 

 

 

 

 

Contracts Payable

Collateral Payable

(if any)

See Attached Itemization

TOTAL

$

 

 

 

$

$

$

This information and the information provided on all accompanying financial statements and schedules are provided for the purpose of obtaining credit. You acknowledge that representations made in this Statement will be relied on by BECU in its decision to grant such credit. This Statement is true and correct in every detail and accurately represents your financial condition on the date given below. BECU is authorized to make all inquiries necessary to verify the accuracy of the information contained herein and to determine the creditworthiness of the undersigned. You will promptly notify BECU of any subsequent changes, which would affect the accuracy of this Statement. BECU is further authorized to answer any questions about Creditors experience with you. You are aware that any knowing or willful false statements regarding the value of the above property for purposes of influencing the actions of Creditors can be a violation of federal law 18 U.S. C. section 1014 and may result in fine, imprisonment or both. You also, authorize BECU to investigate your personal credit history as part of the above referenced Business Loan Application.

By signing below, you declare that you have read and understand the above statement.

SIGNATURE

SIGNATURE

DATE

DATE

If you are guaranteeing this credit jointly, both guarantors must initial the

box below.

We intend to jointly guarantee GUARANTOR INITIALS GUARANTOR INITIALS this credit

BECU 616 7/2012

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This PDF form requires some specific details; in order to ensure accuracy, please make sure to bear in mind the guidelines further down:

1. The creditworthiness involves certain details to be entered. Ensure that the following blank fields are filled out:

The right way to prepare itemization stage 1

2. The next stage would be to complete these blank fields: Mortgages and Contracts Owned, Personal Property, IRA and Tax Deferred Accounts, Other Assets Itemize, see attached itemization, Sched F, Sched G, Total Liabilities, TOTAL LONG TERM LIABILITIES, TOTAL ASSETS, TOTAL LIABILITIES AND NET WORTH, TOTAL LONG TERM ASSETS, Net Worth Total Assets Minus Total, ANNUAL INCOME, and ESTIMATE OF ANNUAL EXPENSES.

itemization completion process shown (step 2)

3. This third segment is considered relatively easy, See Attached Itemization, Cash on Hand, TOTALS, and BECU - all of these fields will have to be filled in here.

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Be extremely attentive when completing Cash on Hand and BECU, as this is the section in which many people make mistakes.

4. Your next part requires your attention in the subsequent places: Company, Face of Policy, Cash Surrender, Value, Policy Loan from, Insurance Co, Other Loans Policy as, Collateral, Beneficiary, See Attached Itemization, C SECURITIES OWNED Including US, indicate those not registered in, Market Value US Gov Sec, TOTALS, and Description. Make certain you type in all of the requested info to move further.

Guidelines on how to fill in itemization step 4

5. To finish your document, the particular subsection requires some additional fields. Filling out See Attached Itemization, TOTAL, TOTAL, F MORTGAGES AND CONTRACTS OWNED, Cont, Mtg, Maker, Name, Address, See Attached Itemization, G PERSONAL PROPERTY Indicate of, Property Covered, Starting Date, Payment, and Maturity is going to finalize everything and you will be done in a short time!

The best way to prepare itemization portion 5

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