To Get Funded… Be Prepared

By now, you should have a sound understanding of the importance of providing your lender or investor with good documentation to support your request for funding. This really is one of the secrets to getting a commercial loan. But, do you actually know what documentation you should share with your lender or investor?

Below is a comprehensive list of the standard documents required to close and fund the loan for your business. Some of the documents listed may not be required depending upon the amount and type of financing you apply for. As many of the documents listed are things you merely need to copy or get from your bookkeeper or accountant, the list should not be something to make you apprehensive.

Be prepared to provide the following to your lender or investor and you can expedite the funding process:

1. Business Plan and/or Executive Summary
2. Resume on each principal & key personnel
3. Financial Projections – Profit & Loss, Bal Sheets (Excel Spreadsheet)
4. Financial Projections – Proj Income 10 years’ minimum (Excel Spreadsheet)
5. Cash Flow Statements -Proj cash flow 10 years minimum (Excel Spreadsheet)
6. Business Operating Cost Breakdown & Analysis
7. Copy of all Intake and Off-Take Agreements
8. Architectural Drawings / Engineering Plans
9. MAI Appraisals of properties
10. Photos (inside-outside) or photographs of land
11. Maps of Project Area – Vicinity Map
12. All Permits and Zoning Documents, Approvals
13. Market Analysis Overview or Demographics
14. Corporate Financials on Business, audited, 3 yrs (if available)
15. Use of Proceeds (in detail) for first-tier loan
16. Use of Proceeds (in detail) for second-tier loan
17. Construction Budget-Business Expansion Budget
18. Corporate Documents – Articles of Incorporation (if applicable)
19. Corporate Documents – Bylaws or Minutes (if applicable)
20. Corporate Doc –Resolution-Authority to Borrow
21. Builder’s Statement, Ins., Licenses, Credentials
22. Warranty Deed (certified copy) proof of ownership
23. Personal Financials – each principal – 20%owner
24. Corporate – Business Tax Returns (3 years)
25. Personal Tax Returns (3 years)
26. Environmental Reports – Phase 1&2
27. Formal Request for Loan/Investment – Business Letterhead
28. Good Standing Certificate
29. EIN Letter
30. Company’s Bank Reference Letter and Bank Statement (for your existing account)
31. Color Copies of Passport and/or Drivers License for Main Signatory and/or Principal

Again, not all of the documents will be required to complete the financing you want. But, regardless to the type of loan you want, you will need to provide several of the items listed.

If you need help, ask us for it. Visit us tomorrow for another free commercial loan secret and be sure to subscribe to our RSS feed.

You can also contact us to ask questions and voice your concerns. Just pick up the phone and dial, CFIC Funding, Inc. today at 310-421-7370! Ask for David Young or Wayne Clinton. You can also visit or mail or