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Business Loan Application Checklist

Business Lending | Loan Package | Credit Process | Personal Financial Statement | Checklist

Now that you're ready to apply for a business loan at Bank of Ann Arbor, please take a moment to go over the following checklist and bring this information with you when you come in for your meeting with the lender. By bringing a complete loan package, you will ensure the fastest service and best loan structuring for your particular situation.

If you have been in business for at least three years, the following information will be needed:

• Three years of financial statements including balance sheets and income statements.
• Three years of complete business tax returns
• Interim financial statements if it has been more than three months since the fiscal year-end or if there have been significant changes in the business.
• A completed personal financial statement
• Two years of personal tax returns (all schedules attached)
• A current accounts receivable and payable aging (if applicable to your business)

If you have been in business for less than three years, the following information will be needed:

• All financial statements including balance sheets and income statements to date.
• Any business tax returns that have been filed to date
• A completed personal financial statement
• Two years of personal tax returns (all schedules attached)
• A current accounts receivable and payable aging (if applicable to your business)

If you are new in business, the following information will be needed:

• A completed business plan including a description of your business, the market in which it will operate, key management, and at least three years of projections.
• A completed personal financial statement
• Two years of personal tax returns (all schedules attached)

If you are applying for a loan secured by real estate, we will need the following information:

• A legal description of the property including the parcel ID number
• A prior appraisal if available
• A copy of the purchase agreement if it's a new purchase
• Copies of leases (applies to both new purchase or existing real estate)
• Historical expense information on the property (applies to both new purchase or existing real estate)
• Two years of personal tax returns
• A completed personal financial statement
• Three years of tax returns of the entity which holds the real estate

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