Lines of Credit Business Loan Application Checklist

Required Forms: Signed Business Loan Application

MBL Discussion Draft - completed by credit union staff Copy of Ownership Information Sole Proprietorship – DBA Filing LLC – Articles of Organization; Operating Agreement Corporation – Articles of Incorporation; bylaws; resolutions Partnership – Partnership Agreement

Financial Information Required - Business:

Signed Business Tax Returns – 3 years Signed Business Financial Statements – 3 years Signed Business Debt Schedule Signed interim Financial Statement For Most Recent Closed Period

Financial Information Required - Guarantors:

Signed Personal Financial Statements Personal Debt Schedule Signed Personal Tax Returns – 3 years Signed Business Tax Returns for Guaranteeing Entities – 3 years Including K-1 statements for all S Corporations, Partnerships & Limited Liability Companies

For Business Lines Of Credit Secured by Accounts Receivable and/or Inventory: Summary of Accounts Receivable and Accounts Payable Agings for Past 3 Fiscal Year Ends and Past 3 to 12 Closed Periods Inventory List Summary for Past 3 Fiscal Year Ends Inventory List (preferably aged and by location) / Aging for the Most Recent and Prior-Like Closed Period List of Top 5 Customers Including Their Percentage of Sales (dollar amount) List of Top 5 Vendors and Percent of Purchases If Contractor or Subcontractor, Copies of Major Contracts Lines of Credit Business Loan Application Checklist

For Business Lines Of Credit Secured by Accounts Receivable and/or Inventory: Copy of Current Insurance Policy/Certificate with Proof of Current Status If inventory secured line of credit Most Recent Month End Bank Reconciliation Last Quarter End Federal 941 and State Payroll Tax Filings with Proof of Payment Most Recent Tax Filing and Proof of Payment for Sales, Personal Property, and Real Estate Taxes Sales Journal for Past 3 Months

Optional Information: Website or Company Information Financial Projections – required for start-up or major change Business Plan Including Management Resumes – required for start-up or major change