Commercial Loan documentation

[chinoy99]

I would like to know what sort of commercial loan documentation is used here in Canada. For eg, if a person takes a loan from a bank he or she is required to sign loan documentation forms like personal guarantee, borrowing resolutions and disclosure statements, promissory notes etc, etc;

Would anyone here know of the list of such documents which are used in the commercial loan documentation process?
Thanks.

[trent]

I would like to know what sort of commercial loan documentation is used here in Canada. For eg, if a person takes a loan from a bank he or she is required to sign loan documentation forms like personal guarantee, borrowing resolutions and disclosure statements, promissory notes etc, etc;

Would anyone here know of the list of such documents which are used in the commercial loan documentation process?
Thanks.

I guess that would depend on the type of commercial loan. For example Real Estate (Commercial Mortgages, Construction/Rehab), Working Capital (Term Loans, Lines of Credit, and Letters of Credit), etc.

[chinoy99]

Thanks Trent. You are correct. Every type of loan has a different loan documentation such as documentary credit or collections (import/export), term finance, cash finance etc. Thanks for your help.

[Canadadebtleads.ca]

Donald Trump said in one of his books, always avoid giving a personal guarantee at all cost. Hard to avoid in this day and age but still try to avoid personal guarantees.

[Canadian]

Donald Trump said in one of his books, always avoid giving a personal guarantee at all cost. Hard to avoid in this day and age but still try to avoid personal guarantees.

Yes, but most of the personal debt is guaranteed on a personal level, like mortgages (the house is collateral), car loans (car is collateral), etc.

[trent]

Yes, but most of the personal debt is guaranteed on a personal level, like mortgages (the house is collateral), car loans (car is collateral), etc.

Of course it is, as the majority of the personal debt is mortgages.

[Financial-Post]

You will find yourself deep in trouble if you would stop making the payments and the installments for your loans.

[Canadian]

You will find yourself deep in trouble if you would stop making the payments and the installments for your loans.

Yes, just look at what is happening down in the States.