Loan Application Check List

Before you turn in an application to a prospective lender, be sure that you have assembled and reviewed the following documents:

  • Personal (use of funds)
  • Worksheets: balance sheet, income and cash flow statements plus explanatory notationsfor any unusual or non-recurring items such as auto loans, travel, bonus.
  • Last three years’ tax returns.
  • The lender’s applications and requested paperwork, completed and signed.
  • W2 and current pay stub.

Business Plan/Loan

  • Purpose, stating amount of loan needed and reason.
  • Description of the Company.
  • CPA-prepared financial statements.
  • Management team’s experience.
  • Expert support for projections.
  • Cash flow pro formas for five years; on a monthly basis for 24 months; quarterly for the next 36 months (Make sure you show the loan repayment).
  • Your marketing plan.
  • Compensation details.
  • Company history.
  • Unique features of the Company.
  • Corporate tax returns for the last three years.
  • Personal tax returns for the past two years and a personal financial statement.
  • Lender application filed


Grimes, McGovern & Associates provides expert advice during all phases of a transaction. Contact us today for a confidential consultation: John McGovern, CEO, [email protected], (212) 255-9700.


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