Although each lender will request to review specific documents and information about your business, the following are items lenders normally assess when making a loan decision for a term-loan.
This is not an exhaustive list as each lender has different requirements, but it will get you started:
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Secured Term Loan
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Unsecured Term Loan
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Businesses credit score
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Businesses credit score
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Business owner(s) personal credit scores
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Business owner(s) personal credit scores
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Time in business
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Time in business
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Collateral
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Bank statements
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Bank statements
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Business Financials
- Profit and loss
- Balance sheet
- Accounts receivable statement
- Accounts payable statement
- Debt scheduled
- Tax Returns
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Business Financials
- Profit and loss
- Balance sheet
- Accounts receivable statement
- Accounts payable statement
- Debt scheduled
- Tax Returns
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Business description
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EIN Number
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EIN Number
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Debt schedules
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Debt schedules
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Voided Check
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Business plan
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