A Business Loan is a loan taken out with the intention of being used for a specific business purpose. Business Loans are either secure or unsecured. Secured loans require the borrower to pledge an asset against the debt. An unsecured loan does not require collateral.
Typical Items Needed for a Business Loan:
- Loan Application
- Borrower Disclosure
- Bank Statements
- Picture ID
- Loan Submission Form
- Home Owners Insurance
- Certificate of Business Purpose
- Mortgage Statement for Payoff Information
- Purchase Agreement (Contract)
If Property Lease/Rented:
- Lease Agreement
If Corporation:
- Articles of Incorporation
- Bylaws
- Statement of Information
- Form W9
If LLC:
- Articles of Organization
- Statement of Information
- Form W9
[maxbutton id=”1″]