Business Loan Checklist
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 or accountant-prepared business financial statements.
- Last 2 years of personal tax returns.
- Personal financial statement.
- Overview of information needed:
- For real estate purchases - a copy of the agreement of sale and rent roll (if applicable).
- For refinancing - 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 or accountant-prepared financial statements, and a narrative history and background of the business.
- Business information:
- For corporations - articles of incorporation and by-laws, list of officers.
- For a partnership - partnership agreement and list of partners.
- For a limited liability company - member's agreement and certificate of origination.
- For a sole proprietorship - trade or fictitious name registration.