This is a generic checklist of items to have available for a loan. Different types of financing will require additional or different documentations and information.

1. General statement regarding loan.
2. Purpose and amounts of loan.
3. Repayment in terms of years.
4. Review of Business Objectives.
5. Conduct preliminary market research
   • Types of business organization – legal structure
   • Company ownership – list of principals
   • Company mission
6. Measurable and quantifiable financial goals both short and long-term
7. Long term growth objectives
8. Definition of products and service
   • Description of project or service
   • Strength / weakness of product or service
9. Marketing or Sales Strategy
   • How is the product sold?
   • Trade area and sales volume
10. Review of Competition
    • Strength / weakness
    • Industry overview
11. Resume of management and owners
12. Financial statements
13. Company balance sheet (three years if available)
    • List of all debt-lender, amount, term, payment amount, interest rate, and collateral
    • List of capital assets in detail
    • Aging of receivables/payables
14. Profit and loss statement (three years if available)
15. Tax returns (three years if available)
16. Proforma statements (minimum of one year by month)
17. Personal financial statements and tax returns on all principals
18. Industry overview
19. Related Business available to lender
    • Deposits
    • Loans
    • Non-Credit services
20. Alternative plan if business revenue is not sufficient to repay debt as programmed

* Contributions to this page was provided by:
John Logan, CPE
Compass Bank
602-778-0790