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Printable checklist
Loan-ready document checklist
The documents lenders usually ask for, so you can say yes when the right financing shows up.
Every lender is different, but most ask for some version of the list below. Gathering it before you need money puts you in a stronger position and shortens the wait. Keep everything in one folder, paper or digital.
About you and the business
- Government-issued photo ID for each owner.
- Business registration or formation documents, and any local business license.
- Your EIN confirmation letter (or SSN/ITIN if you are a sole proprietor without an EIN).
- A one-page description of the business: what you sell, who buys, how long you have operated.
Your numbers
- Business bank statements for the last 3 to 12 months.
- Business tax returns for the last 2 years (personal returns too, if you are a sole proprietor).
- A profit and loss statement for this year to date.
- A balance sheet, even a simple one.
- A list of debts you already owe: who, how much, monthly payment.
- A list of customers who owe you money and how late they are.
Your plan for the money
- How much you need, and exactly what it is for.
- How the money helps the business earn more or spend less.
- How you will make the payment each month. Test it with the loan payment calculator.
Check yourself first
- Run the financial health check to see the ratios lenders look at first.
- Compare a term loan and a line of credit with the loan or line of credit tool.
- Ask a mentor to review your package before you apply. Coaching is free: book a session.