|
Basic Documention for a Loan Request
|
|
Posted On: Monday December 29th, 2003 at 12:00am EST
|
What is the basic documentation for a loan request?
Every lender and lending program is different. However, there is basic documentation required
for a successful loan application.
| Basic documentation Information required: |
|
1
|
Loan application. At a minimum, the loan application requires business and personal
information, the amount, purpose and banking information (checking account).
The purpose must be specific and supported with appropriate documentation.
|
|
2
|
Copies of the Business and Personal Income Tax Returns for past three years
(must be signed.) Be aware that the lender will confirm with the IRS the accuracy
of the tax return submitted.
|
|
3
|
Company financial statements for the past three years (include income statement
and balance sheet.) Interim statements may be required.
|
|
4
|
Personal financial statement.
|
|
5
|
Business Plan and Projections (generally required for start-up businesses,
term loans or other special conditions).
|
|
6
|
Listing of Accounts Receivable and Payable Agings (required for Asset Based Loan)
|
|
|
