Search for Small Business Loan Sources and receive your matched lender list
AND received FOUR free Business eBooks worth $39.95!
Search for Small Business Loan Sources

Trying to navigate the small business loan process can be confusing and exhausting. If your company is looking to find some business funding through a bank or other traditional lender, it helps to be aware of the kinds of paperwork that will be required of you. Here are the six most important pieces of data you should prepare before applying for a small business loan:

1. Personal Credit Score
Even though you might not expect a bank to pull your personal credit score when you are applying for a loan connected with a business, banks and other lenders will often use your credit score as a barometer of how you will deal with credit and debt as a business owner. Personal scores are often one of the only gauges of credit-worthiness when your company has not yet been around for long.

2. Balance Sheet
A balance sheet gives lenders a quick look at both your assets and liabilities. It will help them determine if you truly have the resources to repay a business loan.

3. Profit & Loss Statement
This document shows lenders how much money comes in and out of your firm during a specific amount of time. It provides lenders a peek at how you use your working capital. Be prepared to hand over two years’ worth of P & L statements.

4. Bank Statements
Seeing your deposits and withdrawals over a given period of time will also help lenders figure out how well you handle your working capital and if you have the cash every month to repay a business loan.

5. Tax Returns
Lenders will want to see both your business and personal federal tax returns from the past two year. This is another way for lenders to confirm your financial resources for repaying a loan.

6. Business History
Finally, the length of time your company has been operating tells a lenders something about your chances of success. Certainly lenders will want to see a business history of more than a year but the more time your firm has under its belt, the better.


Search for Small Business Loan Sources and receive your matched lender list
AND received FOUR free Business eBooks worth $39.95!
Search for Small Business Loan Sources