Resolutions should include basic recitals:
•A meeting was held on a certain date.
•The corporation made a decision to request a loan from the lender.
•The loan will benefit the corporation.
•Certain officers designated by name and title are authorized to execute loan documents on behalf of the corporation.
•Pledging of corporate assets as collateral is authorized.
•*Funding of any loan should not occur prior to receipt of a properly executed corporate borrowing resolution. Otherwise, the borrowing could be challenged as unauthorized.