Sheffield Toro Dealer 8111 Lydale Ave South Bloomington, MN 554200000
This option is available for Commercial/Business Use applications and when the "Click here for loan to be in business name" is checked.
Federal law requires that we request the following information to help ensure that all small businesses applying for loans and other kinds of credit are treated fairly and that communities' small business credit needs are met. We use this information only for the government-reporting purpose mentioned here and will not link it to other data we may have about you. One or more employees or officers involved in making a determination concerning your application may have access to the information provided on this form. However, FEDERAL LAW PROHIBITS DISCRIMINATION on the basis of your answers on this form. Additionally, we cannot discriminate on the basis of whether you provide this information. While you are not required to provide this information, we encourage you to do so. Importantly, our staff are not permitted to discourage you in any way from responding to these questions. Filling out this form will help to ensure that ALL small business owners are treated fairly. To learn more about the 1071 Regulation B information, please go here.
Please indicate the business ownership status of your small business. For the purposes of this form, your business is a minority-owned, women-owned, or LGBTQI+ individuals (i) directly or indirectly own or control more than 50 percent of the business AND (ii) receive more than 50 percent of the net profits/losses of the business. *minority means Hispanic or Latino, American Indian, or Alaska Native, Asian, Black or African American, or Native Hawaiian or Other Pacific Islander. A multi-racial or multi-ethnic individual is a minority for this purpose.
For purposes of this form, a principal owner is any individual who owns 25 percent or more of the equity interest of the business. A business might not have any principal owners if, for example, it is not directly owned by any individuals (i.e., if it is owned by another entity or entities) or if no individual directly owns at least 25 percent of the business.
As a reminder, applicants are not required to provide this information but are encouraged to do so. We cannot discriminate on the basis of any person’s ethnicity, race, or sex/gender. Additionally, we cannot discriminate on the basis of whether you provide this information.
You will be required to fill this out for each individual principal owner.
i.e, What’s your ethnicity? (check one or more)
(Please specify):
(Check one or more)
