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Business Loan Preparedness Checklist

The purpose of this checklist is to provide general guidelines for the information most business lenders typically require and is not intended to be a comprehensive list of application documents required for a loan from BCC. Needs may vary depending on the size of the loan and the lender.

  • Business registration with the Texas Secretary of State - Articles of Incorporation or Organization, Statement of Foreign Entity (if applicable) and a Certificate of Good Standing.

  • Employer Identification Number issued from the IRS (EIN).

  • Non-expired Driver’s License for any owner with a 20% or higher equity stake in the business.

  • Business Plan for any business with less than two years of revenue.

  • Personal Financial Statement for each owner with a 20% or higher equity stake in the business.

  • Minimum two years of business tax returns for an existing business and any returns-to date for a new business OR
    Two years of financial projections for any business with less than two years of revenues — both Profit and Loss and Balance Sheet. OR
    If the business is not currently cash flowing, two years of financial projections — both Profit and Loss and Balance Sheet.

  • Year-to-date Financial Statements dated within 90 days of application — both Profit and Loss and Balance Sheet (if applicable).

  • Minimum of two years of personal tax returns for any owner with 20% or more equity stake in the company.

  • A Business Operating Agreement if there is more than one owner with a 20% or more equity stake.

  • Documentation to support use of funds.

Resources

Borderplex Community Capital has compiled the following links to provide additional assistance and direction to nonprofits and small businesses looking to learn more.

Education

Helpful Links