You will always need to provide the follow information
- A pertinent data sheet or executive summary that includes:
- The purpose of the loan request
- The name and the location of the business
- The registered legal entity
- The names of principals, # of years in business
- Info regarding business location (owned or leased)
- A brief summary of the client base and market niche along with a schedule of the use of loan proceeds. (This document is your selling pitch. It will provide the highlights of the business in an abbreviated form.
The following documents should be submitted with the pertinent data page.
Tax returns for the business and the guarantors (personal tax returns) for the last two years.
- A current personal financial statement (PFS) for all the guarantors.
- A current balance statement for the business entity
- An interim P&L for the business
- A list of current receivables.
- A list of other company debt obligations with terms
- If not an American citizen proof of residential status
- Copies of the credit reports for the loan guarantors
- Cash flow projections for three years ( may not be required if the current net income can support the loan request)
About the author
Marjorie Weber has been educating entrepreneurs and guiding them in their search for capital for the past 16 years: combining business training programs with one-on-one mentoring. Marj is currently the executive director of Primed2Grow, a Miami based consultantcy. Most recently Maj was a financial advisor for Florida SBDC at FIU. She was Chair of SCORE Miami Dade from 2010 to 2014. She also serves as an advisor to the Goldman Sachs 10,000 Small Business Program and the SBA Emerging Leaders Program and provides training for Veterans seeking an entrepreneurial path upon retirement from the service. She has facilitated workshops under the auspices of Miami Bayside Foundation, Little Haiti Cultural Center and .local banks. She commenced her career as a real estate investment banker in New York and Miami..She uses these long term relationships to assist her clients in accessing capital. She knows both the process and the people and has assisted in providing financing for hundreds of businesses in Miami Dade.