Get Started with your Loan
Providing us with a complete application package will help us deliver the best possible service. The following list of items will assist you in providing the bank a complete application. Additional information may be required depending on the nature of your loan request, but this will get you started.
Documents Required for Every Loan:
- Completed Business Application
- Completed Personal Financial Statement
- 3 years of Business Tax Returns and all schedules (Sole Proprietor – Form 1040, Schedule C; Sub Chapter S Corporation – Form 1120S; Corporation – Form 1120; Partnerships – Form 1065; Non-Profit– Form 990)
- 3 years of Personal Tax Returns and all schedules
- Year-to-Date Interim Financial Statements (Current Balance Sheet & Income Statement) Accounts Receivable/Payable Aging Report
- Schedule of all business debt (debt presently owed by the business including present balance, monthly payment, interest rate and maturity)
- Copy of Articles of Incorporation or LLC Operating Agreement
Additional Documents Required for Specific Loans:Purchase of Real Estate
- Signed Purchase & Sales Agreement
- Real Estate Broker Information Sheet
- Detailed budget for any planned renovations (if applicable)
Rental Property
- Rental cash flow history (current rental income and expenses)
- Copies of signed leases or listing of all tenants with associated unit numbers and monthly rent
- 2 years of rental projections (income & expenses)
Purchase of Equipment
- Bill of sale or invoice
- Detailed description of equipment
- Copy of title (if applicable)
New Business or Major Expansion of Existing Business
- Business Plan (Templates and assistance can be provided. Check out our Business Resources page)
- 2 years of projections broken-out by month (Balance Sheet & Income Statement) with supporting assumptions on how the figures were developed
Purchase of an Existing Business
- Purchase & Sales Agreement (Including a detailed list of assets to be acquired)
- 3 years of seller business tax returns (if available)
- Business Plan (Templates and assistance can be provided)
- 2 years of projections broken-out by month (Balance Sheet & Income Statement) with supporting assumptions on how the figures were developed