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Ownership and Signature blocks are limited to only those that must be reported, to help cut down on the number of signatures needed. This applies whether the owner is a guarantor or not. The percentage owned is what dictates whether a person/company appears as described below:
For the main ownership table:
- People and Companies with 20% or more direct ownership of the applicant are listed till 51% of ownership is represented.
- If that are not enough owners with 20% or more to represent 51% ownership, owners with less than 20% ownership will be listed till 51% ownership is represented. They will be ordered by highest percentage of ownership.
On additional pages that list owners of companies that have a percentage ownership of the applicant:
- People with 20% or more direct ownership of the company that owns the applicant are listed till 51% of ownership is represented.
- If that are not enough owners with 20% or more to represent 51% ownership, owners with less than 20% ownership will be listed till 51% ownership is represented. They will be ordered by highest percentage of ownership.
In the beneficial ownership table:
- People with 20% or more beneficial ownership of the applicant are listed till 51% of ownership is represented.
- If that are not enough beneficial owners with 20% or more to represent 51% beneficial ownership, beneficial owners with less than 20% ownership will be listed till 51% ownership is represented. They will be ordered by highest percentage of ownership.
Any person listed in any of the points above will have a signature block generated for them in the associates section for the Borrower Information Form.