SECURED LOAN PRODUCTS
Factoring
Benefits: Perfect credit not required.
Drawbacks: Customer may rather deal directly with business, Depending on the situation can be a higher cost.
Invoice
AR Aging Report
P&L
BS
One (1) year tax return (most recent)'Six (6) months Bank Statements
Small SBA
Benefits: Low APR, Fixed or variable rate.
Drawbacks: Longer application process, Require a personal guarantee or collateral.
2 years tax returns
personal financial statement
year-to-date financials
and FICO score.
Equipment
Benefits: Lowest interest rate to buy equipment, Tax deductible and depreciation benefit, Own the equipment outright.
Drawbacks: Equipment with loan can become outdated, Higher downpayment than lease.
2 years tax returns (only if request is over $75
000)
3 months business bank statements
Invoice or Quote for equipment to be financed
Large SBA
Benefits: Lowest interest rates of all types, Longer terms, Can borrower larger amountSeeking.
Drawbacks: Application is time consuming, Long time to approval and funding, Down payment required.
3 years tax returns
personal financial statement
year-to-date financials
and FICO score.
Commercial Real Estate
Benefits: Low APR, Earn equity on property, Built in collateral.
Drawbacks: Must include plans to build a structure, Longer application process.
Borrower Resume(s)
Personal Financial Statement (PFS)
Personal Tax Return(s)
Business Licenses
Corporate/Partnership/LLC/or Sole Proprietorship Docs
History of Business/Business Plan
Accounts Payable Aging Schedule
Accounts Receivable Aging Schedule
Business Federal Tax Return(s)
Business Financial Statement(s)
Interim Balance Sheet (Partial Year)
Interim Income Statement (Partial Year)
Notes Payable Schedule
Projections
Rent Roll (Investment or Multi-Family Commercial Real Estate)
Appraisal(s)
Environmental Site Assessment(s)
Site Visit / Pictures
Survey(s)
Title Policies