Loan Package Checklist

1. *Business Plan* – 3 years – Pro forma if a new business

Income Statement (Profit & Loss statement)

a. First year by month
b. Second & third year by quarter

Cash Flow Summary

a. First year by month
b. Second & third year by quarter

2. Loan Application – Attach a complete description of loan purpose

3. Personal Financial Statement – For each principal

4. Personal Tax Returns – 3 years for each principal

5. Business Financial Statements – 2 years (if available) plus YTD

a. Include a complete list of all business assets

b. Balance Sheet, Profit & Loss and Cash Flows Statements (Year-end and Year-to-date)

c. Current Accounts Receivable and Accounts Payable Aging Statements

6. Business Tax Returns – 3 years (if available)

7. We may request additional information.

8. Once you have collected the above paperwork, contact us for a meeting to review the documents.

9. Once complete, your loan application will be presented to our Board of Directors for approval.

Non-refundable Application Fee – $250.00
Normal closing costs apply. Points may be charged at time of closing

* A business plan precisely defines your business, identifies your goals and serves as your firm’s resume. Its basic components include a current and pro forma balance sheet, an income statement and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make the right decisions. Because it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan package. Additionally, it can tell your sales personnel, suppliers and others about your operations and goals.