More information about commercial loans:
Business Documents/Information
- Business Financial Statements for past 3 years.
- Business Federal Income Tax Returns for the past 3 years.
- Interim Business Financial Statements (dated within last 30 days)
- Business Financial Projections(Balance Sheet and Income Statement) fiscal year end and next full year.
- Brief history and description of project.
- Aging of Accounts receivables and Accounts payable that corresponds to current balance.
- Business Debt Schedule.
- Copy of Business License.
- Current Balance Sheet and Income Statement on all affiliate companies.
Personal/Individual Information
- Personal Financial Statement on Borrowers/Guarantors.
- Borrower/Guarantors personal federal income tax returns for the last 3 years.
- Resume of all borrowers, guarantors and all key management personnel.
- Release of credit information
- Details of any derogatory financial information, business or personal.
- All partners affiliates information (3 years tax returns & interim financials)
- Evidence of equity
Other Information
- Appraisal Report, if one has been previously completed.
- Environmental Questionnaire or Environmental Site Assessment Reports.
- Copy of Note and Deed of trust, Security Agreement and UCCs.
- Sale/Purchase Agreement & Circular.
- Franchise Agreement & Circular.
- Copy of existing leases and contracts.
- Copy of articles of incorporation & partnership agreement, bylaws and operating statement.
- SBA authorization agreement, if currently have SBA guarantee
- Good Standing reports.
- Last 3 franchise inspection reports
- Doing Business as certification/ Fictitious Name Statement.
