Читать книгу How to Get a Business Loan for Commercial Real Estate - Charles Ph.D Barthelemy - Страница 6

Up to this point we have learned to crawl and walk, now lets take it a step further, LET’S TALK!

Submitting a complete file is very important when seeking funding for your business. You want to make sure all your paper work is in the proper order and no documents are missing. This is the order your documents should be submitted:

BUSINESS DOCUMENTS

A)Executive Summary You want to submit an executive summary on the project you are seeking funding for. This summary should consist of one page and one page only, This will give a quick snapshot of your project and why you are seeking funding. Your summary should be very detailed, however not long, getting straight to the point. I will have an example of one in the forms section.

B)Business Plan Once again I highly suggest getting this done by a professional. Your funding source will want to see realistic numbers and projections.

C)Financials If you are purchasing an existing business you will want to provide the last 2-3 years balance sheet and P&L along with the business tax returns. You can get this from your accountant. This will give your funding source a snap shot of what the cash flow for that business looks like.

NOTE: You want to make sure that all your documents are in a very professional format such as Word, Excel, Quick Books, PDF form. You want to make sure that you are not missing any pages when it comes to the tax returns, all schedules must be included.

Personal Documents

These documents will let your funding source know what your personal financial status is.

A)Personal Financial Statement These forms consist of 3 – 4 pages (I will have this in the forms section). This information will give your funding source an overview of what your net worth is currently. This will also show all assets and liabilities along with other pertinent information.

B)Resume This document will include all of your work history that pertains to the type of funding you are seeking.

C)Personal Tax Returns Your last 3 years personal tax returns with all schedules included, this can be w2 returns / self employed or both.

D)Copy of Your Credit Report This report should be the most recent report, all three bureaus: EquiFax, Trans Union, Experian should be submitted.