Founders Community Bank - San Luis Obispo, CA

BUSINESS LOAN APPLICATION CHECKLIST (Printable Checklist)

The following checklist is intended to assist you in gathering the necessary information for the evaluation of your loan request. Forms required are italicized and included on this web site. These forms may be filled out on a computer and printed, or printed first and filled out by hand.

Loan Request/General Information

Schedule of Collateral Form

History and Nature of The Business (include any brochures, etc.)

Business Acquisition Questionnaire, if applicable

Notes Payable Schedule for subject business and any affiliates, dated the same date as the current balance sheet.

Accounts Receivable/Payable Aging Summary for subject business and any affiliates dated the same date as the current balance sheet.

IRS Form 4506 signed by the president, secretary, managing member or partner of the business.

Customer Identification Verification Form & Copy of ID, one for each borrower or guarantor.

Personal Financial Statement for each owner of 20% or more of the business, all guarantors, and all officers of the business.

Personal Income/Expense Analysis for each owner of 20% or more of the business, any guarantors and key employees.

Management/Ownership Information for each owner of 20% or more of the business and any guarantors

Authorization to Release Information for each owner of 20% or more of the business and guarantors

SBA Form 912 completed by each owner of 20% or more of the business, all corporate officers, and all directors.

Regulation B Form (Joint Credit)

IN ADDITION, PLEASE ALSO PROVIDE THE FOLLOWING INFORMATION (when applicable)

Personal Federal Tax Return for the past three years for each owner of 20% or more of the business and any guarantors Please include all schedules and attachments.

Business Federal Tax Returns for the past three years including all schedules and attachments.

Current Financial Statement dated within the past 60 days for subject business. Please include both balance sheet and profit and loss statement.

Year End Financial Statements for subject business for the last three fiscal years. Please include both balance sheet and profit and loss statement.

Corporate Documents including Articles of Incorporation and By-laws, Partnership Agreement Articles of Organization and Operating Agreement, and/or Trade Name Affidavit depending on the organizational structure of your business.

For franchise business, provide a copy of the current Uniform Franchise Offer Circular (UFOC) and Franchise Agreement Purchase Agreement(s) or letters) of intent for subject real estate and/or business acquisition. Business Premise Lease or letter of intent for subject real estate and/or business.

Affiliate Company Financial Information including three years tax returns, current balance sheet and profit and loss statement, and Notes Payable Schedule.

For debt refinancing, provide copies of all notes to be refinanced including renewals thereof, collateral documents, and lender contact name and phone number.

For construction loans, provide a preliminary hard cost budget or proposal from contractor, preliminary soft cost budget estimated time line for construction, and resume, references and financial statements from contractor.

For start-up businesses, or existing businesses planning major changes, please include the following: Business Plan and monthly Cash Flow Projections for initial 12 months, and annual projections for year 2. Projections must be accompanied by a detailed narrative of assumptions used in their development.

Existing information pertinent to this transaction, including previous appraisals, title policies, surveys, environmental studies and photos.

For business acquisition loans, submit letter from seller describing reasons for sale, monthly Cash Flow Projections for initial 12 months, and annual projections for year 2. Projections must be accompanied by a detailed narrative of assumptions used in their development.