{"data":{"id":"us/25-cfr-103.26","jurisdiction":"us","citation":"25 CFR 103.26","heading":"What must the borrower supply the lender in its loan application?","body":"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:\n(a) The borrower's precise legal name, address, and tax identification number or social security number;\n(b) Proof of the borrower's eligibility under the Program;\n(c) A statement signed by the borrower, indicating that it is not delinquent on any Federal tax or other debt obligation;\n(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;\n(e) A detailed description of the borrower's equity in the business being financed, including the method(s) of valuation;\n(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;\n(g) The borrower's current financial statement, and the financial statements of all co-makers and guarantors of the loan (other than BIA);\n(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;\n(i) A detailed list of all proposed collateral for the loan, including asset values and the method(s) of valuation;\n(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;\n(k) If any significant portion of the loan will be used to finance construction, renovation, or demolition work:\n(1) Written quotes for the work from established and reputable contractors; and\n(2) To the extent available, copies of all construction and architectural contracts for the work, plans and specifications, and applicable building permits;\n(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\n(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.","path":["Title 25—Indians","CHAPTER I—BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR","SUBCHAPTER G—FINANCIAL ACTIVITIES","PART 103—LOAN GUARANTY, INSURANCE, AND INTEREST SUBSIDY","Subpart D—Provisions Relating to Borrowers"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-25.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:59Z","sha256":"19ff9f281f9b78f0194f7b19c9f52d0611234511dfa715f8785f7eeb03b0363f","source_id":"us-cfr","stale":true,"prev":"us/25-cfr-103.25","next":"us/25-cfr-103.27"},"notice":"GroundRules: Original legal text. Not legal advice."}