Preparing to meet your lender Featured

10:01am EDT July 22, 2002

Preparation can save time when you’re going after financing. Here are the items you should have when you meet with your prospective lender:

  • Year-to-date profit and loss and balance sheet statements on business, current within 60 days

  • List of current business debt;

  • Complete personal tax returns for the last three years;

  • Personal financial statement;

  • Appropriate signatures on authorization to release information form;

  • Proposed sale price of real estate or total loan amount and use of proceeds;

  • Specific source of down payment;

  • Corporations and partnerships should have business and personal tax returns for the last three years from each owner holding 20 percent or more ownership.