Documentation requirements may vary; contact your lender for the information you must supply. Common requirements include the following:

• Purpose of the loan
• History of the business
• Financial statements for three years (existing businesses)
• Schedule of term debts (existing businesses)
• Aging of accounts receivable and payable (existing businesses)
• Projected opening-day balance sheet (new ventures)
• Lease details
• Amount of investment in the business by the owner(s)
• Projections of income, expenses, and cash flow
• Signed personal financial statements
• Personal resume(s)
• Business plan
• Copies of last two years personal tax returns (new ventures)
• Copies of last two years business tax returns (existing businesses)

(Checklist courtesy of SBA Michigan District Office with modifications by MI-SBTDC)