Business Loan Checklist

Once you’ve determined what type of financing you need and understand your lending options, , gather all the pertinent information to help Greater Nevada determine whether your business will be approved for a loan, and for how much. The documentation is listed below for reference, but it’s always best to speak with a member of our Commercial Services team, as each loan is unique.
Generally, lenders require the following documentation to begin the application process:

• Profiles of all key business people, including business owners/guarantors and senior management.
• A current business plan, which should include products and services offered, a customer analysis, an industry analysis, details about supply chains where applicable, as well as projected finances and cash flow.
• Financial statements, including a balance sheet, income statement, cash flow details and 12 months of bank account statements.
• Personal and business credit reports. Note: it is important for you to know the contents of these reports prior to applying, as your lender will be pulling them to check for creditworthiness.
• One to two years of personal and business income tax returns.
• Business articles of incorporation, registration, and entity type documentation.
• Business licenses and permits required to run the business.
• Document verifying tax ID number (employer identification number (EIN),
• Social Security number (SSN), or individual taxpayer identification number (ITIN).
• List of business assets that can be used as collateral (as most business loans require collateral)
• Commercial leases in cases where your business has a physical location.
• Contracts with third parties and/or details of other existing loans and debts.
• Loan application history.
• List of accounts receivables and accounts payables.