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What is a Borrowing Base Certificate?
A bank may ask a small business owner to complete a borrowing base certificate so the lender can calculate the value of the company’s collateral and determine how much credit it is willing to extend to the business.
The certificate includes the company’s assets such as plant, property, equipment, inventory, cash on hand, and accounts receivable. The bank will use the certificate in a calculation (this varies by institution) to decide whether to issue the business a line of credit, the maximum amount that can be borrowed, the interest rate to charge, and other terms.
Borrowing Base Certificate Sample
1. | [Name of officer signing on behalf of the Borrower] is a duly elected, qualified and acting Authorized Financial Officer of the Borrower; and |
2. | The Borrowing Base as of ___________, 20__ (the “Report Date”) and the components thereof are calculated and set forth on Attachment 1 hereto. |
Reference:
Security Exchange Commission - Edgar Database, EX-10.1 3 exhbit101-exhibitcformofbo.htm EXHIBIT C FORM OF BORROWING BASE CERTIFIACATE, Viewed October 4, 2021, View Source on SEC.
Who Helps With Borrowing Base Certificates?
Lawyers with backgrounds working on borrowing base certificates work with clients to help. Do you need help with a borrowing base certificate?
Post a project in ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate borrowing base certificates. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.
Meet some of our Borrowing Base Certificate Lawyers
David D.
Experienced in-house attorney with focus on acquisitions, divestitures, general corporate matters and litigation support.
Taylor A.
After starting my professional career in Human Resources in the Healthcare and Non-profit fields, I decided to expand my options and attended law school, passing the North Carolina bar in 2016. Since then, I have practiced in-house for healthcare companies, in the civil rights arena, and run my own business. I am currently looking to return to my legal roots and am excited to practice business law again.
Michael A.
A veteran real estate attorney with experience ranging from drafting and negotiating land development agreements, to purchase and sale and lease agreements for multifamily and large commercial proects.
August 3, 2023
Noelle S.
I have been practicing law in Minnesota for the past 17 years, in general civil practice. My primary focus is employment law and contracts.
August 3, 2023
Shane S.
I have 13+ years of experience as a real estate, construction, and general transactional lawyer focused on drafting and negotiating commercial leases, purchase and sale agreements, contractor and design professional agreements, etc.
August 4, 2023
Rocco D.
I'm in general practice with an emphasis on real estate, litigation, and contracts
October 9, 2023
Jordan P.
Hailing from Central Texas, Jordan Pender graduated from Baylor University in 2017 with his Bachelor of Arts degree and in 2021 he graduated from Baylor Law School with his Juris Doctor. Since August of 2021, Jordan has been working as an associate attorney for The Law Office of Gregory K. Simmons in Killeen, Texas focusing in general civil litigation. Areas of expertise include: Family Law, Contractural disputes, Business entity formation and planning, and Landlord & Tenant disputes.
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