Items Needed for Loan Application
- Personal Financial Statement PFS Form
- 2 years Personal Tax Returns
- 3 years Corporate Tax Returns
- If a new business we will need a business plan with the following information:
- Give a detailed description of the business and its goals.
- Discuss the ownership of the business and the legal structure.
- List the skills and experience you bring to the business.
- Discuss the advantages you and your business have over your competitors.
- Discuss the products/services offered.
- Identify the customer demand for your product/service.
- Explain the pricing strategy.
- Explain your source and the amount of initial equity capital.
- Develop a monthly operating budget for the first year.
- Develop monthly cash flow for the first year.
- Provide projected income statements, balance sheets for a two-year period.
- Discuss who will maintain your accounting records and how they will be kept.
- Explain how the business will be managed on a day-to-day basis.
- Discuss insurance, lease or rent agreements and issues pertinent to your business.