Online Credit Application Disclosure & Authorization.
By checking the “I Accept” box and electronically submitting this Online Credit Application (the “Application”), the undersigned applicant (“Applicant”) acknowledges, represents, and agrees as follows:
1. Electronic Signature and Consent.
Applicant agrees that submitting this Application electronically constitutes a valid and binding electronic signature. Applicant’s electronic submission has the same legal effect as an original handwritten signature under applicable law.
2. Real Estate Investment Acknowledgment.
Applicant confirms that this Application is submitted solely for a commercial purpose and not for personal, family, or household use. Any requested financing is intended to be secured by investment or commercial real estate.
3. Accuracy and Completeness of Information.
Applicant certifies that all information provided in connection with this Application, whether submitted online or otherwise, is true, correct, complete, and not misleading as of the date submitted. Applicant acknowledges that EBSC Lending LLC (“EBSC Lending”) will rely on such information in evaluating the Application, and that any material misrepresentation, omission, or change in facts may result in denial, repricing, withdrawal of interest, or termination of the transaction at any time.
4. Authorization to Obtain Information.
Applicant authorizes EBSC Lending and its agents to obtain, verify, and review any information deemed necessary to evaluate the Application, including but not limited to credit reports, background reports, financial statements, bank references, public records, appraisals, environmental reports, and third-party due diligence. This authorization applies to the Applicant and, where applicable, its principals, guarantors, and related entities.
5. Preliminary Terms; No Obligation to Lend.
Applicant acknowledges that submission of this Application does not constitute an approval or a commitment to lend. Any preliminary terms, loan estimate, or indication of interest provided by EBSC Lending is non-binding and subject to further underwriting, due diligence, credit approval, and the issuance of a written commitment executed by EBSC Lending.
6. Engagement Letter and Commitment Letter.
If EBSC Lending issues a loan estimate or preliminary terms following review of the Application, Applicant acknowledges that EBSC Lending will require execution of a separate Engagement Letter prior to proceeding toward a formal loan commitment. Any loan commitment, if issued, will be subject to the terms, conditions, fees, and deadlines set forth in the written commitment and related fee letter.
7. Fees and Costs.
Applicant understands that Commitment Fees and costs will be required in connection with underwriting, due diligence, processing, legal review, and third-party reports. Any such fees will be disclosed in the loan Commitment Letter. Fees are paid directly (not escrowed and not netted from proceeds) - and that condition is non-negotiable.
8. No Retrade; Material Changes.
Applicant acknowledges that any material change to loan terms, structure, property, sponsorship, or requested loan amount after issuance of a loan commitment may constitute a retrade and may result in withdrawal of the commitment, repricing, or the assessment of break-up or cost-recovery fees as set forth in the engagement letter.
9. Privacy and Communications.
Applicant acknowledges receipt of and agrees to EBSC Lending’s Privacy Policy, Privacy Notice, Electronic Consent Agreement, Terms of Use, and Informational Communications Authorization, and consents to receive communications electronically, including email and other digital correspondence.
10. Governing Law.
This Application and the disclosures herein shall be governed by and construed in accordance with the laws specified by EBSC Lending in its engagement letter or loan documentation, without regard to conflict-of-law principles.
