Filing a Business Loan Application

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More and more professionals are moving away from a corporate-centered outlook in favor of owning their own businesses. Obtaining funding is a critical early step in your process to becoming CEO of your own business or franchise. In fact, funding is Step 3 in this helpful guide from The U.S. Small Business Administration, right behind writing a business plan, business assistance and training, and choosing a business location.

When making an application for small business funding, be prepared to provide the following documentation:

  1. Personal background
  2. Resume
  3. Business Plan
  4. Income Tax Returns
  5. Financial Statements – profit and loss, income statements, balance sheets, etc.
  6. Legal documents – leases, business license(s), franchise agreements, and other contracts associated with the business

Other documents may be required and are often different from lender to lender, but the above is a good place to start when you start gathering your documentation in anticipation of submitting a loan application.

With Tenet Financial Group, it’s fairly simple to find out which funding options you qualify for. Visit our Pre-Qualify calculator to get started today.