Loan Package Requirements

The Basics

1. An itemized listing of how the funds will be used
2. Credit Report on all principals and guarantors in the business
3. The amount of cash that you intend to invest in the business
4. A list of all collateral offered to secure the loan
5. Resumes for all loan applicants as well as key individuals in the business
6. Personal Financial Statements for all applicants
7. Last three months bank statements (Checking and Savings)
8. Signed Business Federal Income Tax Returns for the last two (2) years
9. Signed Personal Federal Income Tax Returns for the last two (2) years
10. Balance Sheets & Income Statements for the last two (2) years (existing business)
11. Current Balance Sheets & Income Statements if present statement is over 90 days old
12. Written Vendor's Estimate for all equipment & leasehold improvements to be purchased with the loan proceeds.
13. If buying real estate, provide a copy of the proposed terms of sale along with the most recent appraisal done on the property.

Are your "Ducks in a row?"

1. Necessary Business Licences (City, County, State)
2. Necessary Professional Licences (City, County, State)
3. Certificate of Incorporation with filing receipt
4. Provide a copy of the business lease or proposed lease from the landlord.
5. Provide copies of all current & future contracts or letters of intent to contract.

Tell us about the Business

1. Describe the history of the business or venture
2. Describe the Management Team & Staff
3. Describe your market
4. What is your marketing plan?
5. Who are your competitors & how do you compare to them?
6. Provide copies of any certificates or diplomas that show experience and/or education