When applying for business financing, you'll need various documents to showcase your financial health and eligibility. The documents requested can include some of the following:
Profit & loss statement: Summarizes revenue and costs over a period, assessing financial performance.
Balance sheet: Details assets, liabilities, and debts, crucial for financial verification.
Debt schedule: Provides a breakdown of all current business debts, including balances and payment details.
Business tax return: Offers insight into the company's income, expenses, and deductions.
Personal tax return: Relevant if personal finances are linked to the business.
Voided check: Ensures accurate account information for electronic transactions.
Driver's license: Verifies identity and aligns provided information with official records.
These documents help financial partners gauge your financial stability, repayment capability, and creditworthiness. Ensure accuracy and promptness in submission to expedite the approval process.