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(708) 250-1186

Your Pathway to Funding!

When going out for financing, being prepared greatly increases your chances for getting the right type of capital to solve your individual business need. It also shows the prospective lenders and investors that you are organized and well prepared which generates confidence. Preparation may be as easy as a one page application for equipment financing to a full business plan for working capital financing.

Here’s an example of a financing package that may be required for various types of debt financing:

Equipment Financing less than $75,000 (sometimes higher, known as “Application only”)

  • Loan application
  • Four (4) months of business bank statements
  • Description of equipment – Quote from Vendor

Equipment Financing higher than $75,000 (additional to the Application Only data request)

  • Personal tax returns- two (2) fiscal years’ for all principals with 20% or more ownership
  • Most recent two (2) years of balance sheets (B/S) and profit and loss statements (P &L)
  • Most recent interim B/S and P&L (if most recent year-end statements are older than 3 months)
  • Business tax returns-Latest two (2) fiscal years
  • Personal financial statement of owner(s) for all principals with 20% or more ownership
  • Most recent brokerage statement (if additional collateral is needed)

Asset Based Line of Credit (Secured A/R, Inventory, equipment and Real Estate)

  • Most recent three (3) years of balance sheets and profit and loss statements
  • Most Recent three (3) years of business tax returns
  • Most recent interim B/S and P&L (if most recent year-end statements are older than 3 months)
  • Aged accounts receivable (A/R) report matching the balance sheets provided
  • Aged accounts payable report matching the balance sheets provided
  • Equipment and real estate appraisals, if any
  • Communicate the purpose and the benefit of the loan (i.e. revenue generating, etc.)

Purchase Order and Accounts Receivable Factoring

  • Copies of purchase orders
  • Balance sheet and profit and loss statement for the most recent completed fiscal year
  • Most recent interim balance sheet and income statement
  • Aged accounts receivable report
  • Aged accounts payable report
  • Communicate the purpose and the benefit of the financing (i.e. revenue generating, etc.)

The above are usual documents requested based on the financing solution needed. This is not intended to be an all exhaustive listing.

Discover all of your funding alternatives; call us at (708) 250-1186.