Can a bank provide loans to private schools or colleges for construction of school buildings, purchases of buses and furniture? Who will execute the documents?
A bank could extend the various types of credit that you describe to a private school or college. The school would need to provide financial records and other documents to describe the transaction in detail, document the school's ability to meet the additional debt load, and list the officials who would be authorized to negotiate and sign the loan agreement and related documents. The governing body of the school or college would have voted to authorize specific individuals to act on its behalf to sign documents for the transaction, and an attorney would review those documents and the loan papers on behalf of the bank before the loan is closed and funds disbursed.
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A bank could extend the various types of credit that you describe to a private school or college. The school would need to provide financial records and other documents to describe the transaction in detail, document the school's ability to meet the additional debt load, and list the officials who would be authorized to negotiate and sign the loan agreement and related documents. The governing body of the school or college would have voted to authorize specific individuals to act on its behalf to sign documents for the transaction, and an attorney would review those documents and the loan papers on behalf of the bank before the loan is closed and funds disbursed.
