Required Personal and Financial Documentation

Along with the information gathered from the Loan Summary Form, certain additional documentation must be obtained from you the borrower in order for us to submit a complete loan package to our lenders. The following is a breakdown of the documentation needed from a client based on the type of business they have.
 

Sole Proprietorships/Partnerships (A sole proprietorship is defined as "a one owner business that is not incorporated". A partnership is defined as a "more than one owner business that is not incorporated".) Corporations (A corporation is defined as "a business having one or more owners incorporated under the laws of any state".) Start-Up Businesses/Purchase of Income Property     In order to process a loan request for a Sole Proprietorship or Partnership, the following documentation must be supplied: Confidential resume(s) (for each partner if partnership) Current Personal Financial Statement* (no older than 60 days) Current Business Financial Statement* (no older than 60 days) Previous two (2) years Business Financial Statements Copies of Previous two (2) years Tax Returns (from each partner if partnership) Any other information pertaining to the project such as: copies of contracts, commitments, patents, etc . . . In the case of Real Estate, include where applicable: pictures maps of site and/or area plans and specifications land deeds copy of existing mortgages and/or liens appraisal (if available) cost break-down on construction (if new development) *Please note that these forms will need to be completed by your accountant.   In order to process a loan request for a Corporation, the following documentation must be supplied: Confidential resume (for Each Officer who owns 20% (or more) of the Corporation's stock) Current Personal Financial Statement* (no older than 60 days, for Each Officer who owns 20% (or more) of the Corporation's stock) Current Corporate Financial Statement* (no older than 60 days) Previous two (2) years Corporate Financial Statements Copies of Previous two (2) years Corporate Tax Returns Any other information pertaining to the project such as: copies of contracts, commitments, patents, etc . . . In the case of Real Estate, include where applicable: pictures maps of site and/or area plans and specifications land deeds copy of existing mortgages and/or liens appraisal (if available) cost break-down on construction (if new development) *Please note that these forms will need to be completed by your accountant.   In order to process a loan request for a Start-Up Business or for the Purchase of Income Property, the following documentation must be supplied: Confidential resume Current Personal Financial Statement* (no older than 60 days) Copies of Previous two (2) years Tax Returns A Business Plan if interested in Venture Capital should include: a description of the business and its growth potential a description of the product or service and how you propose to market them identify the competition describe the market and industry who will make up the management team how will the management team function and operate a projection of income and expenses for the next three (3) years Any other information pertaining to the project such as: copies of contracts, commitments, patents, etc . . . In the case of Real Estate, include where applicable: pictures maps of site and/or area plans and specifications land deeds copy of existing mortgages and/or liens appraisal (if available) cost break-down on construction (if new development) *Please note that these forms will need to be completed by your accountant.

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