I spoke with a client who was looking for a better way to fund his business, said his bank would provide a loan when he can document (2) years in business AND exceeds $250,000 in annual revenue along with:
1) Personal resume including business experience (all principals)
2) Ownership structure and any affiliations
3) Personal financial statements and tax returns past 3 years (all principals)
4) Application
5) Franchise agreement (if applicable)
6) Current P&L statement prepared by CPA or account
7) Copy of contracts with suppliers
8) Copy of office / building lease from landlord or mortgage statement
9) Use of funds statement
10) Copy of business license or letter of incorporation
11) Business financial statement and tax returns for past 3 years
12) Business bank statements for past 3 months and up to 24 months (all pages)
Until now, client has been using a private lender, rate has been between 10.99% - 13.99% consistently, 2 - 4 points and interest only. With us, he is No longer paying POINTS, No UPFRONT or hidden fees, No high interest rate! Imagine the money and time we can save you!
Michael Koprowski
Account Executive
1-808-259-1635 Direct
1-888-875-8918 Secure Fax
Merchant Banking
Resources
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