1. Basic information about your business:
- Business name
- Business address
- Your name
- Type of business
- Date your business was established
- Tax ID Number (Employer ID Number) or Social Security Number (for a sole proprietorship)
2. Number of employees: Include both how many you have now and how many more if the loan application is approved.
3. Use of proceeds (amounts for all applicable items, and total):
- Land acquisition
- New construction/expansion/repair
- Acquisition or repair of machinery and equipment
- Purchase inventory
- Working capital (including accounts payable)
- Acquisition of existing business
- Pay off an existing loan
4. Information about your current, previous, and pending business debt, including SBA loans and other government debt:
- Borrower's name
- Lender name and information
- Original amount of loan
- Date of Application
- Present balance
- Rate of interest
- Maturity date
- Monthly payment
- Security provided
- Loan Status (whether the loan is current or past due or paid off)
- Outstanding balance
- If loan resulted in a loss to the government or other lender, amount of the loss
5. Information about the management of the business: For 100% of the ownership, you must include name and address and percentage owned. You may also be required to provide demographic information (race, ethnicity, veteran status, gender); this information can help the bank determine if you qualify for any special SBA loan programs.
6. Personal and financial information about all shareholders: Take note that you should include officers, partners, owners, along with a personal financial statement.
7. Detailed information about assets being presented as collateral: For example, a legal description of real estate, serial numbers/id numbers for all large value machinery, equipment, furniture and fixtures, inventory records, accounts receivable aging reports and other records as required.
8. A brief history of the company: Talk about how the business started and explain the benefits that it will gain from the funds.
9. One to three years of projected financial information on the business: Be able to show the effects of the funds and what growth you expect to see over that time.
10. Information about the financial history of the business: If you are seeking a loan for an existing business, provide records for the past three years, including income tax returns, balance sheets and income statements.
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