Commitments:  Oral agreements or oral commitments to loan money, extend credit or to forbear from enforcing payment of a debt are not enforceable under Washington to law (RCW 19.36).  Seattle Bank's agreement to lend money is contingent on the Bank's final underwriting approval and proper documentation.

USA Patriot Act Notice:   To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.  What this means for you:  When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you.  We may also ask to see your driver's license or other identifying documents.

For Loans Secured by a 1 st  Lien on a Dwelling:   We may order an appraisal to determine the property’s value and charge you for this appraisal. We will promptly give you a copy of any appraisal, even if your loan does not close.  You can pay for an additional appraisal for your own use at your own cost.  This notice is intended to apply to a loan that will be secured by a 1-4 family dwelling.  The term “dwelling” includes, but is not limited to, an individual condominium or cooperative unit, and a mobile or other manufactured home.

Credit Denial Notice:   If your gross revenues were $1,000,000 or less in your previous fiscal year, or you are requesting trade credit, a factoring agreement, or similar types of business credit in this Commercial Loan Application, and if your application for business credit is denied, you have the right to a written statement of the specific reasons for denial.  To obtain the statement, please contact Seattle Bank at 401 Union Street Suite 2900, Seattle WA 98101 or (206) 281-1500 within 60 days of the date you are notified of our decision.  We will send you a written statement of reasons for the denial within 30 days of receiving your request for the statement.  The notice that follows describes additional protections extended to you.

Equal Credit Opportunity Notice:   The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (providing the applicant has the capacity to enter into a binding contract), because all or a part of the applicant’s income derives from any public assistance program, or because the applicant has in good faith exercised any right under the Consumer Protection Act.  The federal agency that administers compliance with this law concerning Benchmark Bank is:  Division of Compliance and Consumer Affairs, Federal Deposit Insurance Corporation, Washington, DC 20429-9990.

Spousal Signatures:   Applicants may apply for credit in their name alone, regardless of applicant’s marital status.  Submission of a joint financial statement does not constitute an application for joint credit.  A bank may request a cosigner, guarantor or similar party to support a credit request.  However, an applicant’s spouse cannot be required to guarantee the obligation of the applicant.  The bank may require the applicant’s spouse or other person to sign only on instrument(s) necessary, or reasonably believed by the creditor to be necessary, under the law of the state in which the property is located, to enable the creditor to reach the property being relied upon in the event of the death or default of the applicant.

Notice for Incomplete Applications:  If you have submitted an application for business or commercial credit, and we notify you that additional items are needed before we can fully evaluate your request, please submit the information within 90 days from the date of our request.  If we do not receive all of the information we requested by that time, we will regrettably not be able to give further consideration to your request. However, we welcome you to submit a new application at any time and we will give it our full consideration.

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