Business Description: Usually completed on a Bank’s application
form. Be prepared to provide company details such as address, telephone
number, contact names, tax registration numbers and other general information
about your company.
Balance Sheet: Financial statement showing company assets, liabilities
and equity. (start up companies provide projections only)
Income Statement. Also called a profit/loss statement: Financial statement
showing sales, expenses and profit over a period of time. (start up
companies provide projections only)
Cash Flow Projections: Financial statement outlining the sources and
uses of funds over a period of time.
Statement from each owner outlining personal assets and obligations
(if the owners are providing a personal guarantee)
Additional Information
In general, a Bank will require more information as the loan value increases.
Business plan
Projected balance sheet
Projected income statement
Personal tax returns from each owner
Business tax return
Credit history search on the owners and business (completed by the
Bank only with your permission)
Month-by-month cash flow statement outlining expected cash balances
at the end of each month.
Aged list of accounts receivable and payable. This report lists suppliers
and customers sorted by how long the invoice is outstanding. Most lending
institutions discount any customer that has not paid you within 90 days.
Appraisal on assets. This is an estimate of value. Appraisals are
generally required when financing real estate, purchasing an existing
business or used equipment.
Environmental assessment. Required when purchasing real estate. This
is a survey to test for environmental contamination
