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Business Purchase Checklist

Document Checklist for Business Loan Application

____ Signed current (less that 90 days from date
          of application) personal Financial Statement
          from all principals with 20% or more ownership
          in the proposed venture/entity.
____ Copy of 2 most recent personal Federal
          Income Tax returns from all principals with
          20% or more ownership in the proposed
          venture/entity.
____ If available from current owner, accountant
          prepared Business Financial reports for the
          last 2 years.
____ If available from current owner, Year to Date
          Profit and Loss Statement for the business.
____ If available from current owner, 2 most recent
          Business Federal Income Tax returns.
____ 1-year (minimum) Projection of Income
          and Expenses for the business.
____ Detailed listing of proposed loan collateral
          including real estate legal description if
          applicable.
____ If applicable, plans and cost estimates for
          improvements, upgrades and/or additional
          equipment purchases.
____ If applicable, copy of proposed purchase
          agreement.
____ If application is for SBA or other non-traditional
          loan program, additional documentation will
          be provided for completion.

For corporations, partnerships, limited liability companies:

____ Copy of By Laws, Articles of Incorporation
          Partnership Agreements etc.

Additional information may be required after preliminary review has been completed.



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