Application Checklist and Inquiry Form
We understand that applying for a small-business loan or seeking further information can be a time-consuming process, so we include an application checklist to guide entrepreneurs and small business owners through potential materials you may need.
Business Loan Application Checklist
- Business Background
- A Brief History of Your Business:
- Describe the nature of your business, number of employees, location, and the duration of operation.
- A Brief History of Your Business:
- Management Credentials
- Management Resume: Highlight the qualifications and skills of the management, especially yourself. Mention any special licenses or degrees obtained.
- Personal Finances
- Personal Financial Statement: Provide a personal financial statement for each owner with a 20% or greater stake in the business.
- Personal Tax Returns
- Submit personal tax returns for the last three years, even if income and circumstances have changed substantially.
- Business Financial Snapshot
- Interim Business Financial Statement: Include a recent balance sheet and income statement, dated within 60 days of application.
- Historical Business Performance
- Year-End Business Financial Statements: If applicable, provide financial statements for the past three years, including both balance sheets and income statements.
- Business Tax Records
- Business Tax Returns: Submit three years of business tax returns if your business isn’t a sole proprietorship.
- Ownership Disclosure
- Form 4506-T: Complete Form 4506-T for each owner with a 20% or greater stake in the business. Below, you can find a pdf version of the form from the IRS website for your convenience
- Financial Projections
- Projections: Present financial projections for the next three years if the business is a startup or is substantially changing its strategy.
- Debt Overview
- Debt Schedule: List all business debt, including leases, using the provided form.
- Legal Documentation
- Organizational Documents: Include any relevant organizational documents, such as a fictitious name statement, partnership agreement, or articles of incorporation.
- Project Details
- Description of Project: Include all costs associated with the project and all sources of funding. Also, provide any purchase agreements, cost breakdowns, or vendor’s estimates as applicable.
- Lease Information
- Copy of Lease Contracts: Include a copy of all land leases.
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