Authorization to Obtain Credit Information
You are providing “written instructions” to Pacific Coast Regional Small Business Development Corporation doing business as PCR Business Finance (“PCR”), under the Fair Credit Reporting Act (15 U.S.C. §1681 et seq.), authorizing PCR to obtain information from your personal and/or business credit profile and other relevant information from one or more consumer reporting agencies or other sources. This authorization is granted solely for the purposes of:

– Determining your eligibility for a PCR loan, loan guarantee, or related financial assistance;
– Verifying the accuracy of information you provide; and
– Complying with applicable legal and regulatory requirements.

PCR may continue to verify information provided in your application at any time prior to final loan closing. If your credit is currently frozen, please lift the freeze before proceeding so that we may complete your application review.

No Immediate Impact to Credit Score for Pre-Qualification
If your application is in a pre-qualification stage, PCR may obtain a soft inquiry that does not affect your credit score. If you proceed to a full loan application, PCR may request a hard inquiry, which may appear on your credit report.

Representations and Warranties
You represent that all information provided to PCR-whether through this application or any supporting documents-is true, complete, and correct. Submitting false information may be punishable under:

–  18 U.S.C. §1014 (False Statements to Financial Institutions)
– California Civil Code §1572 (Actual Fraud)
– California Financial Code §779 (Fraud in Loan Applications)

You agree to promptly notify PCR of any material adverse changes in your business or financial condition during the application process.

Federal Identity Verification Requirement
To help the government fight the funding of terrorism and money laundering activities, Federal law (USA PATRIOT Act, Pub. L. 107-56) requires all financial institutions to obtain, verify, and record information identifying each person who applies for a loan. This means we will ask for your name, address, date of birth, and other identifying information. We may also require copies of your driver’s license or other identifying documents.

Ongoing Verification Rights
By submitting this application, you authorize PCR to:

– Contact taxing authorities, creditors, and credit reporting agencies to verify the information provided;
– Provide information about your credit obligations to credit reporting agencies or in response to lawful inquiries; and
– Access updated credit reports throughout the application process.

Required Federal and State Disclosures

Equal Credit Opportunity Act (ECOA) Notice
The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to contract); because all or part of an applicant’s income derives from any public assistance program; or because the applicant has, in good faith, exercised any right under the Consumer Credit Protection Act.
The federal agency that administers compliance with this law concerning PCR is:
Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580.

Financial Privacy Act Notice
As required by the Right to Financial Privacy Act of 1978 (12 U.S.C. §3401 et seq.), PCR has the right to access financial records held by financial institutions in connection with the consideration or administration of assistance to you. These records may be provided to PCR without further notice or authorization, but will not be disclosed to another government authority without your consent, except as required or permitted by law.

Fair Credit Reporting Act (FCRA) Summary of Rights
You have the right to know what is in your credit file and to dispute inaccurate or incomplete information. Consumer reporting agencies must correct or delete inaccurate, incomplete, or unverifiable information. For more information about your rights, visit: https://www.consumerfinance.gov/learnmore.

By proceeding with this application, you acknowledge that you have read, understood, and agree to the above terms and disclosures.