Loan Package Checklist


	Loan Package Checklist

Whether you are applying for a microloan, SBA guaranteed loan, or a traditional bank loan, similar information is required to complete a loan package. The following provides a checklist of most requirements.

Personal Financial Information:
Personal Financial Statements (signed and dated)
Copies of Personal Tax Returns (including all schedules for 3 years)
Source/Amount of Owner's capital injection
Credit Report for owners of 20% or more (dated within 90 days with all derogatories explained)
Resumes from Principals, Partners, or Proprietors

Financial/Business Information:
Business Plan
Description/History of the Business
Benefits from the loan
Articles of Incorporation or Assumed Name Certificate
Credit Report for the business and owners of 20% or more (dated within 90 days with all derogatories explained)
Cash Flow Projections (For one year by month, second and third years may be done by quarters)
Projected Profit and Loss (For one year by month, second and third years may be done by quarters)
Notes to Financial Projections (Assumptions)
Balance Sheet and Profit & Loss Statement (For the interim period dated within 90 days, each page signed/dated, startups should include opening balance)
Balance Sheet and Profit & Loss Statement (For last 3 years, each signed and dated)
Copies of Business Income Tax Returns (for 3 years)
Copy of Existing Facility Lease (s)and/or Lease(s) to be acquired
Schedule of All Business Term Debt (Notes, Contract, and Leases Payable)
Aged Accounts Receivable
Aged Accounts Payable

Collateral Requirements:
Schedule of Fixed Assets to be acquired with loan and their cost
Appraisal on real estate and most recent Tax Appraisal

Franchise:
Franchise Agreement and FTC Disclosure Report*

Construction, Including Leasehold Improvements:
Construction Contract* by the contractor, architect, or other, with "turn-key" firm cost quotation
Copy of performance bond*

Additional Information:
Partnership Agreements*
Employment Agreements*
Change of Ownership/Business Acquisition* ( Copy of Buy-Sell Agreement and Copy of Escrow Instructions)
Real Estate Acquisition* (copy of sale/purchase agreement, signed/dated, copy of escrow instructions to include legal description)
Hazardous Waste Assessments Report(s)* - (PHASE 1 or 2, must have for existing gas stations and frequently polluting industries)
Real Estate Refinancing or Debt Payment* - (Copies of notes, escrow instructions, and Settlement Sheet)

*If applicable

You should also understand how to prepare and present your loan request.

(Women's Business Development Center, Chicago, IL and Women's Economic Self-Sufficiency Team, Albuquerque, NM, 3/97.)

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