Loans

Loan Application Process

In order to process your business loan application in a timely manner, the following documents need to be submitted:

  • Application including personal financial statement
  • Personal tax returns for the last two years (three years if a sole proprietorship)
  • Copy of drivers license for sole proprietor or copy of Articles of Organization for other types of businesses.
  • Business References
  • 2 Years cash flow projections on a month-by month basis.
  • Lease (if applicable)
  • Inventory listing
  • Equipment listing

In addition, the following documents may need to be submitted, depending on the status of your business.

Start-Ups:
  • A completed business plan
Existing Businesses (if not included in your business plan)
  • A brief written history of your business; a description of your products and services; a summary of your previous business experience; a description of the key risks or challenges in your business and how you manage against them; and a description of the two main strengths of your business.
  • Current year to date financial statements (if year-end financials are over six months old)
  • Business tax returns for the last two years.
  • Current balance sheet.

The CDP provides Technical Assistance to applicants in developing the loan application, including a business plan and financial projections. Contact Pam Andersen for more information or to schedule an appointment.

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