Description
This comprehensive Business Loan Policy Template is an essential tool for credit unions seeking to establish or refine their commercial lending practices. The template provides a robust framework for managing business loans, covering all aspects of the lending process from application to repayment. It includes detailed guidelines on loan types, eligibility criteria, underwriting standards, risk assessment, collateral requirements, loan pricing, approval processes, documentation, and ongoing monitoring.
The template is designed to ensure compliance with regulatory requirements while allowing for customization to fit your credit union’s specific needs and risk appetite. It addresses key areas such as concentration limits, loan-to-value ratios, debt service coverage ratios, and financial covenants. The policy also outlines procedures for handling problem loans, loan modifications, and collections.
This Word-format document is easily editable, allowing you to tailor the content to your institution’s unique circumstances. It includes sample language, best practices, and placeholders for institution-specific information. The template covers both secured and unsecured business loans, lines of credit, and specialized lending programs.
By implementing this comprehensive policy, credit unions can streamline their business lending operations, mitigate risks, and promote consistent decision-making across the organization. This template serves as a valuable resource for credit union executives, loan officers, and compliance teams, providing a solid foundation for a successful and compliant business lending program.
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