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Documents for Start-Up Businesses

Documents for Start-Up Businesses

If you’re a new business, here are a few important documents you may need when looking to apply for a loan.

Businesses Established for Less Than 2 Years:

  • 2-year profit and loss projections showing revenues, costs, operating expenses, and income that provide sufficient detail to indicate the business’s finances
  • Specific breakdown or a List of Use Loan Proceeds

Businesses Established for Less Than 1 Year:

All of the items shown above, plus the following items:

  • Business plan that conveys the business, market, competition, etc. If you need assistance with your business plan, there are several agencies that can assist you:
  • Proof of minimum equity injection equal to at least 20% of the loan amount
    • Invoices with proof of payment receipts or cash equity as verified by deposit balance in the business checking