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.
- 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
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