Document Checklist
Applying for a business loan can be a complex process, but being well-prepared with the right documentation can make it much smoother. Whether you're seeking a Term Loan, SBA Loan, or a Line of Credit, having the necessary paperwork ready is crucial.
Below, we've compiled 3 separate comprehensive checklists of essential documents to help streamline your loan application processes.
Term Loan Checklist
1. Loan Application Form
- Completed and signed loan application.
2. Business Plan
- Overview of the business.
- Market analysis.
- Financial projections.
3. Personal and Business Financial Statements
- Personal financial statement for all owners
(including assets, liabilities, and net worth).
- Business financial statements (balance sheet,
income statement, and cash flow statement).
Click here to download our template
4. Tax Returns
- Personal tax returns for the last 2-3 years.
- Business tax returns for the last 2-3 years.
5. Bank Statements
- last 3-6 months Business bank statements .
6. Credit Report
- Personal and/or business credit reports.
Click here to get access to your 3 bureau reports
7. Business License and Permits
- Copy of business license.
- Relevant permits or certifications.
8. Ownership and Management Documents
- Articles of incorporation/organization.
- Bylaws or operating agreement.
- Resumes of key management.
9. Collateral Documentation
- Details and documentation for any collateral offered.
10. Legal Documents
- Contracts or agreements related to the business.
Leases or property ownership documents.
11. Insurance
Proof of business insurance.
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Get Ready to Apply
Ensuring you have all these documents ready can significantly speed up your loan application process. Always confirm with your lender for any additional requirements or specific forms they might need. With everything in order, you'll be one step closer to securing the funding your business needs.
