Bank of Ann Arbor Routing Number: 072413735 Bank of Ann Arbor SWIFT BIC: ANNAUS33 Bank of Ann Arbor NMLS ID: 718852
How can we help you? Whether you're opening your first checking account, taking out a loan, or buying a new car, we've got your back with personal banking solutions designed to fit your life.
You need to devote your energies to the health and growth of your business. We'll help with the financial resources and tools to fuel it.
You work hard to accumulate wealth for your family's needs. We'll help you with retirement and sharing it with loved ones or a favorite charity.
Our mission is helping our communities thrive through our time, effort, financial resources, and making our customers our top priority.
Bank of Ann Arbor's loan application process is quick, the rates are competitive, the loan terms are flexible, and our commercial loan officers are attentive and friendly. In order to begin the loan application process, you should gather some basic information to present to the lender. This information is called the loan package.
A loan package is the information a lender needs to understand your business and make a fast and informed decision on the products that are right for you. When developing your loan package, you will need to include a description of your products and services, an overview of key personnel and their backgrounds, a description of the market in which you operate (competition), and future plans for your company.
Financial information on your business provides the key to understanding how your business has performed in the past and why it may need a loan. The following basic financial information will be required to evaluate your loan application:
If your business is more than three years old, we will request three years of financial statements and business tax returns; if less than three years old, we will request all financial statements and tax returns to date.
If you are just starting your business, we will request an opening balance sheet and projections as well as a completed business plan.
By providing complete financial information, you help communicate your financial condition and the results of your operations to a lender. The statements should be prepared in "generally accepted accounting principals" so they can be easily understood. A Certified Public Accountant or business consultant can assist you in preparing the necessary information.
In many cases, you will also be asked to provide a personal financial statement and personal tax returns for the past two years. This provides the lender with a clear idea of the relationship between your personal and business finances. Upon receipt of all necessary financial data, a lender will then review your loan and begin the credit process.
Loans are subject to credit approval, verification, and acceptable collateral evaluation.
Bank of Ann Arbor is an equal opportunity lender.