To qualify client must have good personal and/or business credit, complete and accurate business plan, income statement, profit and loss statements, tax returns, collateral and cash flow. In addition there must be 2 to 3 years of sustained growth and experience.
Requirements
- Loan amount -$500,000 – no upper limit
- Personal Financial Statement on all 20% or more owners (attached)
- Personal Tax Returns for the last three years on all 20% or more owners of the business
- Last three years business tax returns and current interim balance sheet and profit/loss statement on the business
- Personal Resume on Key Management
- Copies of any pertinent contracts
- History of the Business or Business Plan
- Projections for 3 years+
- 2 to 3 points (varies by deal)
- Origination Fee – $495.00 after approval