Application Terms & Conditions

By giving us your phone number and submitting this application, you acknowledge that:

1. You've received and reviewed any special disclosure that applies in your state: ME, CA, NY, RI, OH, VT and WI residents.
2. All information submitted for the business and the co-applicant is true and correct and is given to obtain credit from us.
3. You are of legal contracting age.
4. Credit approval, Annual Percentage Rate (APR) and credit terms are based on our review of the co-applicant information and credit report.
5. As co-applicant, you understand we collect your individual income information to determine your individual ability to pay. Examples may include income earned from your employment (salary, overtime, bonus), retirement/pension benefits, and rental properties. Student loans, grants, scholarships and financial aid are not acceptable sources of income. Alimony, child support, or separate maintenance income need not be revealed if you don't wish it to be considered as a basis for repayment.

On behalf of yourself and the small business applicant, you acknowledge:

1. You are submitting this joint loan application for yourself in your individual capacity and for the small business applicant as its duly authorized representative.
2. The loan proceeds (if approved) will be used for business purposes and not for personal, family, or household purposes.
3. You will provide satisfactory evidence of your authorization, such as a completed Resolution for Credit to Purchase or Borrow.
4. You and the small business applicant will be jointly and severally liable for the obligations of any loan approved as a result of this application.

On behalf of yourself and the small business applicant, you authorize Bank of America, N.A. to:

1. Pull a credit report (e.g. using a hard inquiry) based on you in your individual capacity for use in making a credit decision.
2. Use the information on this application and any other information we or our affiliates have about you to determine your ability to pay, as required by federal law.
3. Verify, at our option and for our benefit, all application information.
4. Contact you or any employee, officer, member, or partner of the small business applicant or send a detailed message or messages at the telephone, email or direct mail contact data you provided above for purposes of fulfilling this application, or servicing any loan extended in response thereof even if you have previously registered on a Do No Call registry or requested Bank of America not to send marketing information to you or the small business applicant by email and/or direct mail. You consent for yourself and on behalf of the business co-applicant that we and our affiliates may leave detailed messages at the telephone, email and direct mail contact data you provided above.

Use automatic telephone dialing systems and prerecorded voice messages in connection with calls or texts made to any telephone numbers you or the small business applicant provide even if telephone number is assigned to a cellular/mobile telephone service or other service for which the called party is charged according to their normal text messaging rates.

Authorization for the Social Security Administration to Disclose Your Social Security Number Verification

You authorize the Social Security Administration (SSA) to verify and disclose to Bank of America through Early Warning Services, our service provider, for the purpose of this transaction whether the name, Social Security Number (SSN) and date of birth you have submitted matches information in SSA records. Your consent is for a one-time validation within the next 90 days. By checking the box, you are signing the consent for SSA to disclose your SSN Verification to Bank of America, and you agree that your electronic signature has the same legal meaning, validity and effect as your handwritten signature.

Privacy

If the account application is approved, do we have your permission to open your account prior to sending you a copy of our Bank of America US Consumer Privacy Notice, which will be sent with your customary account disclosures?

USA PATRIOT Act disclosure

All financial institutions are required by federal law to obtain, verify and record information that identifies each customer before opening an account. When you open an account with us, we will ask you for your name, address and other information that will allow us to identify you, such as Social Security number and date of birth.

Information Sharing with Dealers

With your approval letter you will receive a unique approval code to provide to the selected dealership. By providing your approval code at an authorized dealership, we will provide your information to the dealership so that you can quickly and easily complete the financing process with Bank of America. You should be aware that, after providing your approval code, any modifications to your application at the dealership may result in another inquiry by us to one or more credit bureaus in order to process your credit request. Separately, the dealership has the ability to submit your application information to other lenders via their internal systems and, as a result, the dealership may obtain an additional copy of your credit bureau report. This is not necessary to complete financing with Bank of America, and a dealership must gain your consent and request for credit before submitting your information to any other lenders.