Borrow Capital
Resolution to Borrow Capital
Corporation Name: _____
WHEREAS, the Corporation/LLC is in the need of additional capital, and WHEREAS, the loaning company _____, on date _____ has agreed to loan the Corporation/LLC the sum of $ _____ and, WHEREAS, such a loan will be advantageous to the Corporation/LLC as it is on the better terms than it would have been available with another loaning company: be it |
RESOLVED, that the Corporation/LLC borrow the sum of $ _____ from the loaning company, _____ , and that said sum be repaid in or within _____ years with the interest thereon at _____ % on the unpaid balance, as set forth in the promissory note and collateral loan documents have been presented to and reviewed this board. The undersigned hereby certifies, the persons whose signatures appear below, one of whom is a Director/Manager of the Company, have been duly authorized to mandate the borrowing of capital and that the said resolution is now in full force and effect without modification or rescission. |
Dated _____ Designation: Director _____ Signature _____ |
Dated_____ Designation: Manager_____ Signature _____ #incsmart |