What documents are required for most small business loans?
Most lender will require the following documents for small business loans. If a lender doesn’t request at least some of these documents, it could be a “red flag” that you’re dealing with a predatory lender.
- Your most recent three years of personal and business federal tax returns with all tax schedules. If your business has been in operation for less than three years, include tax returns for the most recent years available. Be sure to include all schedules with the tax forms, so that lenders can perform the full analysis needed.
- An interim business financial statement that includes an income statement and balance sheet, dated within 90 days of the application date.
- Bank statements for the most recently completed three-month period (these may be required for personal and business accounts).
Source: Pursuit is a community-focused lender that provides small businesses with affordable loans and resources so that they can reach higher, transform and grow. That transformation may start with an individual borrower, but ultimately extends into the broader community, taking shape as new employment opportunities, economic development and positive change.