| Documents Required | Extensive Documentation Required (usually more so than Full Doc Requirements), most commonly including: Purpose of Loan; History of Business; Business Tax Returns for 3 years (existing businesses); Financial Statements (Income-Expense Reports, Balance Sheets) for 3 years (existing businesses); Schedule of Loans (existing businesses); Aging of Accounts Receivable, Payable (existing businesses); Projected Opening-day Balance Sheet (new businesses); Lease Details (if applicable); Amount of Owner(s) Investment in the business; Projections of Income, Expenses and Cash Flow; Appraisal; Environmental Report(s) (if/as required by appraisal); Digital Pictures of Business/Property; Personal Tax Returns for 3 years; Signed Personal Financial Statement(s) (less than 60 days old); Personal Resume(s); Credit Report(s) (less than 60 days old); and, other documents as may be specified during the processing &/or underwriting processes. (A complete list of requirements will be provided by lender.) |