StacksVerified U.S. regulatory reference

25 CFR §103.26

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
The lender may use any form of loan application it chooses. However, the borrower must supply the lender the information listed in this section in order for BIA to process a guaranty or insurance coverage application:
  1. (a)The borrower's precise legal name, address, and tax identification number or social security number;
  2. (b)Proof of the borrower's eligibility under the Program;
  3. (c)A statement signed by the borrower, indicating that it is not delinquent on any Federal tax or other debt obligation;
  4. (d)The borrower's business plan, including resumes of all principals and a detailed discussion of the product or service to be offered, market factors, the borrower's marketing strategy, and any technical assistance the borrower may require;
  5. (e)A detailed description of the borrower's equity in the business being financed, including the method(s) of valuation;
  6. (f)The borrower's balance sheets and operating statements for the preceding 3 years, or so much of that period that the borrower has been in business;
  7. (g)The borrower's current financial statement, and the financial statements of all co-makers and guarantors of the loan (other than BIA);
  8. (h)At least 3 years of financial projections for the borrower's business, consisting of pro-forma balance sheets, operating statements, and cash flow statements;
  9. (i)A detailed list of all proposed collateral for the loan, including asset values and the method(s) of valuation;
  10. (j)A detailed list of all proposed hazard, liability, key man life, and other kinds of insurance the borrower will maintain on its business assets and operations;
  11. (k)If any significant portion of the loan will be used to finance construction, renovation, or demolition work:
    1. (1)Written quotes for the work from established and reputable contractors; and
    2. (2)To the extent available, copies of all construction and architectural contracts for the work, plans and specifications, and applicable building permits;
  12. (l)If the borrower is a tribe or a tribal enterprise, resolutions by the tribe and proof of authority under tribal law permitting the borrower to borrow the loan amount and offer the proposed loan collateral; and
  13. (m)If the borrower is a business entity, resolutions by the appropriate governing officials and proof of authority under its organizing documents permitting the borrower to borrow the loan amount and offer the proposed loan collateral.