Commercial Loans: Typical industry check-list information BUSINESS FINANCIAL INFORMATION
1. Signed loan application.
2. Authorization Agreement for Direct Loan Payments (ACH), if desired by borrower.
3. Year-end financial statement (including all statements and schedules) and copies of Federal Income Tax Returns for the last three years, all with original signatures.
4. Most recent interim financial statement.
5. Projected income statement and proforma balance sheet (start up business only). 6. Accounts receivable aging, if applicable.
PERSONAL FINANCIAL INFORMATION (Providing this data upfront will facilitate the application process in the event the Bank requires additional financial strength to support the loan.)
1. Current personal financial statements on all owners with 20% or more interest in your company and/or key operating officers (included in application package, additional forms available from Bank).
2. Complete personal Federal Income Tax Returns covering the last two years, signed copies.
3. If any assets of the borrower or guarantor are held in a Trust, provide a complete copy of all Trust(s).
ORGANIZATIONAL & MANAGEMENT INFORMATION
1. (A) If a corporation, attach a copy of Articles of Incorporation plus all current amendments.
(B) If a partnership or joint venture, attach a copy of Partnership Agreement plus all current amendments. If limited, also include certificate.
(C) If a Limited Liability Company, attach a copy of the recorded Articles of Organization and executed Operating Agreement.
(D) If doing business under a fictitious firm name, regardless of whether a corporation, partnership or proprietorship, attach proof of filing and publication of fictitious firm name.
2. Any other descriptive or background information you feel would assist in the loan process.