Business Loan Check List

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Business loans help to meet the needs of small business owners. Whether it’s a large equipment purchase that will help you get the job done, an improvement to your store or the simple need for more cash, there may come a time when you’ll need a small business loan.

You may know you need a loan, but do you know everything you’ll need to acquire that loan? Luckily, most lenders require very similar information, and while there will most likely be different forms to fill out, you’ll only need to gather all of the information once. Below is a typical checklist of items you’ll likely need to apply for a small business loan. Bookmark it and check it off in your browser or print it out for easy tracking.

Business Loan Application Checklist
 Business information (Address, phone number, etc.)
 Loan amount desired
 Intended use of the loan
 Summary of other debts
 Loan history application
 Personal background and credit report
 Resume
 Business plan
 Business credit report
 Income tax returns
 Personal financial statements for anyone with 20% stake or more in your business
 Business financial statements (bank statements, income statements, cash flow, balance sheets, etc.)
 Accounts receivable and payable
 Collateral
 Business license
 Franchise agreement (if applicable)
 Property lease
 Articles of incorporation (if applicable)
 Legal documents (copies of contracts you may have with third parties)

The information in this article is provided for education and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness or fitness for any particular purpose. The information in this article is not intended to be and does no constitute financial or any other advice. The information in this article is general in nature and is not specific to you the user or anyone else.

Barbara Davidson

Babs is a content writer at Enova International, Inc. with a Bachelors in Cinema Studies and English from the University of Illinois (ILL-INI!). She loves binge watching musicals, reading in the (sporadic) Chicago sunshine and discovering great new places to eat. Accio, tacos! Find out more about her on Google+.

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