How to Get a Business Loan
Establish a banking relationship with an experienced lender.
Building a rapport with a lender who is knowledgeable in your industry is beneficial long before you need a loan.
Reduce your debt and improve your credit profile.
Reducing your debt can quickly improve your credit profile.
Determine your eligibility.
Save valuable time by talking with an advisor to determine your eligibility for different types of loans before applying.
Review your financial details.
Lenders will review your financials, such as your cash flow, to ensure you're well-positioned to repay the loan.
Gather appropriate documents and submit your loan application.
Submitting a complete application, including all of the appropriate documents needed for the loan review, can lead to a quicker approval.
Business Loan Checklist
Required Information:
Plus the following checked items
- List of management team members, titles and years of service
- Schedule of ownership interests
- Schedule of customer concentrations
- Personal financial statements for Guarantor(s)
- Personal Tax Returns
- Three year’s Corporate Tax Returns
- Rent Roll
- Most recent Borrowing Base Certificate
- Accounts Receivable and Accounts Payable aging reports
- Schedule of other bank debt, non-bank debt and/or leases
Related Resources
ADDITIONAL RESOURCES
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BUSINESS GUIDANCE -
BUSINESS GUIDANCEHow to Build Business Credit: 6 Steps for Businesses
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BUSINESS GUIDANCEStrategies to Prevent ACH and Check Fraud
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