When you are ready to apply for a business loan, we suggest you have the following information available to expedite the application process:
- Last 3 years of business tax returns and accountant-prepared business financial statements.
- Last 3 years of personal tax returns.
- Personal Financial Statement
- Overview of financing needs
- For real estate purchases, a copy of the agreement of sale.
- For a refinance, information on the property, existing loans, etc.
- For working capital, an aging of accounts receivables and payables.
- For a business debt refinance, a schedule of existing debt - lender, original terms, rate, amount, and existing balance.
- For purchases of an existing business, copies of that company's last 3 years of tax returns and accountant-prepared financial statements, and a narrative history and background of the business.
- List of rental income and projected rents.
- Business information
- Corporations - Articles of Incorporation and By-laws, list of Officers
- Partnership - Partnership Agreement and list of Partners
- Limited Liability Company - Member's Agreement and list of Members
- Sole Proprietorship - Trade or fictitious name registration