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- Product Labeling Law: ANSI, UL, CPSC - Some Thoughts for Product Importers and Distributors
- Buying a Car Wash In NY or NJ: Some Thoughts for Purchasers
- Buying a Gas Station or Car Wash you Need Landlord Consent - No Matter What the Lease Says
- $22 Million New York City Entrepreneur Fund Created for Starting Businesses in New York City
- Small Business Commercial Lease Agreements in New York: Limiting your Personal Guaranty may Not be Enough
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- "Must Use" Online Resources When Buying a Business or Franchise...
Posted on 1/13/2011
Library
Business Transactions
- CPSC Reporting Requirements: Knowing When to Report a Product Defect
- Three Things You Need to Remember About Your Product Warranties
- FTC's "Environmental" Marketing Rules: What Manufacturers, Distributors and Franchisors Need to Know
- Proposition 65: Information that Product Manufacturers and Distributors Need to Know
- Prop 65 Warning Requirements for Product Manufacturers and Distributors
What information should you provide to the bank when applying for a commercial loan?
A: When applying for a commercial loan to buy a business or start a business you should provide the following items:
- Business plan
- Completed loan application
- Projected income
- Equipment and inventory list
- Personal tax returns for the past 3 years
- Financial statements
- Proposed lease agreement for place of business
- Notice of intent from suppliers
- Copies of any relevant business licenses and other legal documents
- Resumes on all principals
Based on where you are applying for a commercial loan at they may ask for additional information but these are the basics that are asked for that you should anticipate to have ready.
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