Business Credit Cards

Capitol Bank requires the following for all business credit cards:

• Signed and completed Application
• Personal Guaranty (page two of the Application)
  • Not required for non-profits, municipalities, or larger stock corporations.
• Beneficial Owner Form
• Copy of Driver’s License
• Financial Information
  • Business Statements
    • Previous year-end Income Statement and Balance Sheet or Tax Return
    • Current year-to-date interim statements
  • Guarantor Personal Financial Statement
• Borrowing Resolution
  • Most businesses require the appropriate resolution
  • Not needed for Sole Proprietorships
  • Municipalities/non-profits can use the Organization Resolution or alternative documentation, such as:
    • Minutes from board/council meeting authorizing stated limit and borrower by name
    • Letter from agent of organization with authority to borrow on its behalf, such as a city executive or treasurer

In addition we need the following depending on the type of business:

Corporations

• Articles of Incorporation
• By-laws (states titles/positions of individuals that can borrow on behalf of corp.)

Limited Liability Company

• Articles of Organization
• Operating Agreement (states titles/positions of individuals that can borrow on
  behalf of the LLC)
• Sole Member LLC’s without an operating agreement must submit a signed statement indicating sole member status.

Partnership

• Partnership Agreement

Other Organizations

• Require a typed document stating how the organization operates
• Require names of who has the authority to borrow funds on behalf of the Organization (their titles must be listed)