CHECKLIST FOR COMPLETE LOAN APPLICATION A completed and signed Loan by richman10

VIEWS: 4 PAGES: 1

									CHECKLIST FOR COMPLETE LOAN APPLICATION
1) A completed and signed Loan Processing Form. 2) A copy of the proposal or signed contract for the work. 3) A detailed description of the equipment to be installed including vendor supplied specifications. 4) A description of the process the where the equipment will be installed 5) The MDE premise number, if known, for site. 6) Three most recent years of tax returns for each individual that is an owner/borrower, or a principal or partner of the borrower. 7) A current profit/loss statement within the past ninety (90) days of application submission. 8) Financial statements, balance sheets and profit/loss statements, including all notes to any accountant prepared statements for the past three (3) years. If the financial statement is not available, tax returns which show profit/loss, balance sheets and cash flow must be submitted. 9) A debt schedule that includes the beginning date and amount, present balance owed, interest rate, monthly payment, maturity and security for each loan or debt that your business currently has. 10) For business entities that are not sole proprietorships: a copy of the entity’s organizational documents and a Certificate of Status with State Department of Assessment and Taxation, 301 W. Preston Street. You can reach them at (410) 7671340. 11) If real property will be used as collateral, a copy of the recorded deed for the collateral property that must include Liber and Folio numbers. 12) Evidence of Casualty and Hazard Insurance adequate to cover business assets. 13) Personal financial statement using the form provided. 14) Other documentation as requested: _______________________________


								
To top