Please consult with your Commercial Loan Officer.

Questions from applicants and/or Bank customers can be addressed by Customer Service at 1-888-454-BANK.

You will be notified by phone and in writing of the approval. If any additional information is needed to move forward with drawing loan documents, a list of items will be provided. If the items needed to draw loan documents are not provided within 5 business days, a Notice of Incomplete Application letter will be mailed, allowing 30 days for the applicant to provide the information. If the information is not provided within the specified time frame, the request will be considered withdrawn.

Borrowers will be required to go into a Bank of the Sierra location to sign loan documents with a Commercial Loan Officer.

You will receive a phone call explaining the reasons for the rejection. Bank of the Sierra will also follow up with a letter in the mail.

Complete applications will include a minimum of the following items:

Business Information:

• Business name, address, phone number, and taxpayer identification number
• Business type
• Business industry
• Loan amount
• Loan purpose
• Number of years in business
• Gross revenue of business; net profit/loss
• Business assets; liabilities; net worth
• Monthly payments on existing business loans
• Required financial information (see below)

Business Principal(s)/Guarantor(s) Information:

• Name(s), address(es), phone number(s), email address(es), and Social Security number(s) of all business owners regardless of ownership percentage
• Required financial information (see below)

Financial Information Requirements:
Loan requests of up to and including $25,000 will be decisioned based on the information stated on the loan application and will not require submission of financial information. For loan requests higher than $25,000, the financial information specified below will be required by the Bank to verify stated information on the application to calculate debt service coverage ratios.

• Most recent 2 years complete tax returns for business entity
• Most recent 2 years complete tax returns for all business owners, including all statements, schedules, and K-1s, as applicable
• Current business debt schedule
• Current personal financial statement for all business owners

Additional Requirements:

• Business principals will be required to personally guaranty (for corporations, LLPs, LLCs) regardless of ownership percentage.
• Opening a Bank of the Sierra Business Checking Account will be required for Sierra Reserve Lines and Sierra Business Lines to credit loan funds. Vesting of the account must match the borrower’s legal name. Applicants will be required to open the business checking account in person at a Bank of the Sierra branch location.
• Applicants will be required to present appropriate entity documentation.

The Small Business Lending program is intended for any business seeking a basic unsecured (no collateral) loan of anywhere from $1,000 – $250,000. Business entities should be in existence and operating for no less than 3 years and should be located in the Bank of the Sierra geographic footprint. If they are not located in the footprint, they must be within the State of California and principals must be willing to travel to a Bank of the Sierra branch location to sign the required loan documents.

To be eligible, businesses must have been operating for three years or more and have a current address in California. Applicants shall be one of the following:

• Sole proprietors
• Corporations
• General partnerships
• Limited partnerships
• Limited liability companies
• Limited liability partnerships

Trusts, nonprofits, and money services businesses are not eligible for these products. To inquire about financing for these entities, please call 1-888-454-BANKor stop by your nearest branch.

Small Business Loans will be extended to business entities for legitimate business use (i.e., short- and long-term working capital, vehicle and equipment purchases, business overdraft protection). Unacceptable loan types include:

• Loans for speculative purposes
• Loans to foreign countries, businesses, or governments
• Loans to businesses or individuals who have a history of delinquent payments or bankruptcies

Basic criteria and requirements to qualify for a Small Business Loan from Bank of the Sierra will appear at the top of the application. Items include (but may not be limited to) length of time in business, financial requirements, authorization to pull credit, and the signing of all loan documents in person at a Bank of the Sierra branch location.

Yes. Your business must be located in California. Business principals must go to a Bank of the Sierra bank location to sign loan documents in person.

Yes. Bank of the Sierra will check the credit report for the business and personal credit reports for all business principals.

It is best to gather all required items before submitting your application to complete the process quickly and efficiently. However, if you are unable to gather all items before application, upon review of the application a Loan Officer will contact you for the missing items. Bank of the Sierra will follow up by mailing a letter listing the items needed and a date by which the items need to be provided. If the items are not provided by the letter’s expiration date, the application will be considered withdrawn.

At this time, documents for Small Business Loans must be signed in person with a Commercial Loan Officer at a Bank of the Sierra branch location.

Sole Proprietorship:

• Fictitious name statement

Limited Liability Company (LLC):

• Filed articles of organization (LLC-1)
• Operating agreement
• LLC-12
• Any amendments

Partnership/Limited Liability Partnership:

• If General Partnership (GP): filed statement of partnership authority (GP-1)
• If Limited Partnership (LP): filed certificate of limited partnership (LP-1)
• If Limited Liability Partnership (LLP): filed application to register an LLP (LLP-1)
• Partnership agreement
• Any amendments

Corporation:

• Filed articles of incorporation
• Any amendments

All Small Business Loan applications and supporting documentation will be submitted electronically through a secured website, which can be accessed through Bank of the Sierra’s website.

Yes. Loans will be considered in an amount up to $250,000, even if you have existing loans with Bank of the Sierra.

All applications are reviewed and decisioned by an employee of Bank of the Sierra.