Business Document Checklist
The following items should be gathered and submitted with your loan application:
- Current personal financial statement on all borrowers and guarantors. Preferably less than 3 months old.
- Most recent 3 years tax returns. Both personal as well as business, if already existing.
- Business plan which should include the following:
- Brief narrative of history and nature of business
- Purpose of loan
- Itemization of use of loan proceeds
- Listing of proposed collateral along with corresponding values (appraisal, purchase price, etc.)
- 3 year income and expense projections along with any contributing factors and information used in determining projections
- If business is a corporation, submit a list of all officers and stockholders (social security # and address of each), along with the articles of incorporation.
- If business is an L.L.C., submit a list of all members and managers (social security # and address of each), along with the articles of organization and operating agreement.
- Any other information that might be helpful in reaching a loan decision.
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