A Resolution to Borrow is a formal document confirming that a business’s governing body (such as the board of directors of a corporation or managing members of an LLC) has authorized securing financing.
Lendio's template must be used to meet this requirement—no other versions will be accepted.
This document should include:
Authorization for the business to obtain the loan
Signatures from the board or managing members
Date of approval and loan details (if applicable)
This resolution ensures the funding request is properly approved and legally authorized by the business’s leadership.