Business Loan Checklist
  1. Personal Financial Statement of all owners with more than 10% ownership.
  2. Detailed, signed Balance Sheet and Profit & Loss Statements current (within 90 days of application and last three fiscal years.)
  3. Detailed one (1) year projection of Income & Finances
    (please attach written explanation as to how you expect to achieve same).
  4. A list of names and addresses of any subsidiaries and affiliates
  5. Type of business (sole proprietorship, partnership, LLC, corporation, etc.)
  6. Signed Business Federal Income Tax Returns for previous three years.
  7. Signed Personal Federal Income Tax Returns of principals for (3) years.
  8. Personal Resume including business experience of each principal.
  9. Brief history of the business: Include an explanation of why the loan is needed and how it will help the business.
  10. Copy of Business Lease (or note from landlord giving terms of proposed lease.
  11. For purchase of an existing business:
    1. Current Balance Sheet and Profit & Loss Financial Statement of business to be purchased.
    2. Previous two (2) years Federal Income Tax Returns of the business.
    3. Propose Bill of Sale Including: Terms of Sale.
    4. Asking Price with schedule of:
      1. Inventory
      2. Machinery & Equipment
      3. Furniture & Fixtures