Sba Form 160 PDF Details

SBA Form 160 is an important form for small business owners and those interested in starting a small business. The form is used to apply for a loan from the Small Business Administration (SBA). The SBA offers various types of loans, including the 7(a) Loan Program and the 504 Loan Program. There are eligibility requirements for each program, so it's important to understand which program is best suited for your small business. Reviewing the SBA Form 160 can help you determine if your business is eligible for a loan from the SBA. The Small Business Administration (SBA) offers two main loan programs: 7(a) Loans and 504 Loans.

This knowledge will aid you to understand better the details of the sba form 160 before you start filling it out.

QuestionAnswer
Form NameSba Form 160
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namescertificate of resolution for sba loan, sba certificate and or resolution eidl, sba form 160 example, sample board resolution for sba loan

Form Preview Example

OMB Control No: 3245-0201

SBA Application / Loan No _________________

U.S. Small Business Administration

RESOLUTION OF BOARD OF DIRECTORS OF

(1)RESOLVED, that the officers of ____________ (hereinafter referred to as “Organization”) named below, or any one of them, or their, or any one of their, duly elected or appointed successors in office, be and they are hereby authorized and empowered in the name and on behalf of this Organization to execute and deliver to the Small Business Administration, an agency of the Government of the United States of America (hereinafter called "SBA"), in the form required by SBA, the following documents:

(a)Application for a loan or loans, the total thereof not to exceed in principal amount $___________, maturing upon such date or dates and bearing interest at such rate or rates as may be prescribed by SBA; (b) Applications for any renewals or extensions of all or any part of such loan or loans and of any other loans, heretofore or hereafter made by SBA to this Organization; (c) the Note or Notes of this Organization evidencing such loan or loans or any renewals or extensions thereof; and (d) any other Instruments or Agreements of this Organization which may be required by SBA in connection with such loans, renewals, and/or extensions; and that said officers in their discretion may accept any such loan or loans in installments and give one or more Notes of this Organization therefore, and may receive and endorse in the name of this Organization any checks or drafts representing such loan or loans or any such installments; (e) sign Guarantee of loan or

loans in the principal amount of $____________ to

 

.

(2)FURTHER RESOLVED, that the aforesaid officers or any one of them, or their duly elected or appointed successors in office, be and they are hereby authorized and empowered to do any acts, including but not limited to the mortgage, pledge, or hypothecation from time to time with SBA of any or all assets of this Organization to secure such loan or loans, renewals and extensions, and to execute in the name and on behalf of this Organization or otherwise, any Instruments or Agreements deemed necessary or proper by SBA, in respect of the collateral securing any indebtedness of this Organization;

(3)FURTHER RESOLVED, that any indebtedness heretofore contracted and any Contracts or Agreements heretofore made with SBA on behalf of this Organization, and all acts of officers or agents of this Organization in connection with said indebtedness or said Contracts or Agreements, are hereby ratified and confirmed;

(4)FURTHER RESOLVED, that the officers referred to in the foregoing resolutions are as follows:

(Typewrite Name

 

(Title)

 

(Signature)

 

 

 

 

 

(Typewrite Name

 

(Title)

 

(Signature)

 

 

 

 

 

(Typewrite Name

 

(Title)

 

(Signature)

 

 

 

 

 

(Typewrite Name

 

(Title)

 

(Signature)

(5)FURTHER RESOLVED, that SBA is authorized to rely upon the aforesaid resolutions until receipt of written notice of any change.

CERTIFICATION

I HEREBY CERTIFY that the foregoing is a true and correct copy of a resolution regularly presented to and

adopted by the Board of Directors of

 

 

 

at a meeting duly called and held at

 

 

on the

day of

, 20

, at which a quorum

 

 

 

 

 

 

 

 

 

 

was present and voted, and that such resolution is duly recorded in the minute book of this corporation; that the officers named in said resolution have been duly elected or appointed to, and are the present incumbents of, the respective offices set after their respective names; and that the signatures set opposite their respective names are their true and genuine signatures.

Secretary

PLEASE NOTE: The estimated burden for completion of this form is 5 minutes per response. You are not required to respond to this information collection unless it displays a currently valid OMB approval number. Comments on the burden should be sent to U.S. Small Business Administration, Chief, Administrative Information Branch, Washington, D.C. 20416, and Desk Officer for SBA, Office of Management and Budget, New Exec. Office Building, Room 10202, Washington, D. C. 20503. (3245-0201). PLEASE DO NOT SEND FORMS TO OMB.

SBA FORM 160 (7-05) Previous editions obsolete

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