Qualifying Documentation

Required documentation may vary based on the financing product or program type. We will assess your business after we receive yourFunding Assessmentor Business Funding Application. A Business Finance Specialist will schedule a call to review with you all of the programs in which you qualify for. At that point, we will advise you of what documentation is needed to begin lender sourcing. Please note, during underwriting process the lender may request additional documentation that may or may not be listed. Be prepared to honor the lender’s request in a timely fashion.

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What are some of the typical documentation underwriting my request?

Current Credit Reports

It is important to provide credit reports for All 3 Bureaus and Scores for all applicants/principles (cannot exceed 15 days old). Providing your own report for submission will prevent excessive and unnecessary inquiries which can decrease you scores and increase your chance of declines. My recommendation is to maintain credit monitoring until all of your funding goals are met. NO CREDIT KARMA. THEY ARE NOT ACCURATE. For more important information on credit reports Click Here.

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Business Credit Reports

IF APPLICABLE. Business Credit Reports are not required for most business financing programs but will greatly improve your chance of approvals if you have established favorable scores. Startups and new businesses will more than likely not have a credit profile. It is important to still verify and if not, now is a great time as any to begin establishing one. Our Preferred Partners allows you to get a FREE Business Credit Report. Note: Premium not required to get business scores but are completely optional.

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Types of Financials (Program Based)

Typically,3 -6 month business bank statements is required to begin the initial qualification process. Additional documentation may be required during underwriting which may include, 2 years tax returns, Current Profit and Loss statements; Balance Sheets, 401K/IRA statements, Credit Card statements, Current Debt Schedule. Financing for commercial real estate may require other documentation and have a specific application depending on lender. For assistance in preparing these documents

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Business & Personal Assets

For Borrowers that have real assets they would like to leverage to obtain financing like, the underwriter will request additional verification documentation specific to the program. This includes, but may not be limited too, an Assets and Facilities List and/or Debt Schedule. If requested, you will be provided the forms to be completed and submitted. For assistance in completing these documents

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Equipment Financing

An addition to an Equipment Leasing Application, vendor Estimates, Proposals and Price Quotes are standard documentation when applying for any type of when equipment financing. If applying for this program, please complete our Equipment Leasing Application.

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Factoring Programs

Outstanding Accounts Receivables, Invoices, Purchase orders, Contracts and Aging reports are some of the initial documentation that may be requested for factoring. Any additional documentation that may be required will be requested during the underwriting process. This program also requires a specific application for processing. Please complete and submit to apply for factoring.

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Types of Qualifying Documentation

Business Loan Application
3 Bureau, 3 Score Credit Report (cannot exceed15 Days) Click Here for more important information.
3 - 6 Month Business Bank Statements
6 Month Credit Card Processing Statements
Accountant-Prepared Business Financial Statements (Profit and Loss, Balance Sheet)
for the past three fiscal years
Outstanding Invoices and Accounts Receivable Aging Report

Outstanding Invoices and Accounts Receivable Aging Report
Assets and Facilities List
Proposals, Price Quotes, Estimates, Contracts
Purchase Orders
Book of Business (Insurance Agents Only)
Use of Funds
Financial Projections

Business Plan or Executive Summary
Organizational Papers (Articles, DBA papers etc.)
Most Recent Federal Tax Returns for each principal owner listed in the first section of the Business Loan Application
Personal Financial Statement
Form of Identification (Driver’s License, State Issued ID)
Voided Business Check