Small Business Loan Application Example

Couple talking to loan officer
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If you are planning to start your own small business or already own one it's likely you'll need to raise capital for additional cash flow at some point. A common way of doing this is to secure a business loan. In order to secure a loan, you need to research what you need in order to apply and mistakes to avoid. The business loan application example below will help you understand and prepare the information you'll likely need when applying for a loan.

Business Loan Application Example

Date:

New Relationship Branch:_____________________

Existing Relationship Officer:__________________

BUSINESS INFORMATION

  • Business Name_______________________________________
  • Address_____________________________________________
  • Telephone ( )______________ Tax I.D.____________
  • Individual Name(s)__________________________________
  • Address_____________________________________________
  • Telephone ( )_______Social Security #_______Date of
  • Birth:_____
  • Proprietorship______ Partnership______Sub-Chapter S_______ Corporation_____________ Non-Profit________ Individual_________ LLC_________

Ownership Distribution: (List stockholders, partners, owner names) Note: Attach separate sheet if additional space needed.

  • Name__________Title________# of Years______%___ SS#_____
  • Name________Title________# of Years_________%___SS#_________
  • Name________Title________# of Years_________%___SS#_________

Nature of Business__________________Year Established_______ Number of Employees________

Bank of Account______________Account Number_____________

Credit Relationships: Please provide details of your business credit relationships below:

Original Loan Amount____________Maturity____________
Name of Creditor_____________Purpose of Loan___________
Amount___________Presently Owing________________
Repayment Terms______________Date_______________

LOAN REQUEST

Amount of Loan Requested______________ Type of loan_________

  • Years at Present Location_________[ ] Own[ ] Lease
  • Accountant__________Telephone ( )
  • Insurance Agent____________Telephone ( )
  • Attorney_____________Telephone ( )

FINANCIAL INFORMATION

  • [ ]Line of Credit
  • [ ]Term Loan
  • [ ]Business
  • [ ]Home Equity
  • [ ]Commercial Real Estate

Requested term of loan:___________________

  • Specific Loan Purpose (Check all that apply)
  • [ ] Other
  • [ ] Refinance Existing Loan or Debts
  • [ ] Finance Purchase of Business
  • [ ] Finance Purchase of Real Estate
  • [ ] Finance Purchase Equipment
  • [ ] Finance Purchase of Inventory
  • [ ] Working Capital

Collateral Available* (Check all that apply)

*Collateral: Loans are secured by collateral, which is property in which a security interest is granted to secure repayment of the loan. The loan collateral may include business assets, stocks, bonds, certificates of deposits, or personal assets. Consider (1) the value of the loan collateral must be equal to or greater than the amount of the loan, (2) expected economic life of collateral will be considered by the Bank in evaluating the collateral offered for the loan, (3) formal collateral appraisals may be required, and (4) a pledge of personal assets may be required as additional collateral for the business loan requested.

[ ] Guarantors** (Please list)

**Guarantors: For incorporated borrowers, guarantees of owner(s) is usually required, unless secured by Bank deposits or marketable collateral. If personal assets are in joint names, a sole proprietorship, and/or partnership, the Bank may require all parties to pledge collateral.

BUSINESS BACKGROUND INFORMATION

Please provide a brief history of your business, future plans, and projections, and describe your products and/or services and competition.

PERSONAL BUSINESS EXPERIENCE

If you have been in your present business for under five years, please describe your previous business experience. (Include business background, management experience, and training, or include a resume.)

  • Name__________Social Security #_________________
  • Address__________________________________ Name___________________Social Security #________________ Address__________________________________ Name___________________Social Security #________________ Address__________________________________
  • [ ] Personal Assets (As described in Personal Financial Statement.)
  • [ ] Cash on Deposit at (name of bank) Branch Account #
  • [ ] Real Estate (Please attach property address, legal description and a copy of most recent tax bill.) Square Feet Acres
  • [ ] Specific Equipment (Please attach equipment list, including serial numbers or description of equipment, and invoices for new equipment.)
  • [ ] All Assets (accounts receivable, inventory, machinery and equipment)

CERTIFICATION

The undersigned certifies that, to the best of his or her knowledge and belief, all information contained in this loan application and in the accompanying statements and documents is true, complete, and correct. The undersigned agrees to notify the Bank immediately of any material changes in this information. It is further agreed that, whether or not the loan herein applied for is approved, the undersigned will pay or reimburse the bank for the costs, if any, of surveys, title or mortgage examinations, appraisals, etc., performed by non-Bank personnel with the consent of the applicant.

The undersigned authorizes the Bank to contact any bank and trade creditors it deems necessary without further notice, including, but not limited to, Dunn & Bradstreet reports or information from TRW Credit Data.

  • Business Name (print):
  • Applicant Signature: Date:
  • Applicant Title:
  • Guarantor(s) Signature: Date:
  • Guarantor(s) Signature: Date:

BUSINESS LOAN APPLICATION CHECKLIST

Please be sure all of the following documentation has been included in order for your business loan application to be processed.

  • [ ] Business Loan Application
  • [ ] Accountant-Prepared Business Financial Statements (Profit and Loss, Balance Sheet) for the past three fiscal years
  • [ ] Business Federal Tax Returns for past three fiscal years
  • [ ] Interim Financial Statements (if available)
  • [ ] Most Recent Federal Tax Returns for each principal owner listed in the first section of the Business Loan Application
  • [ ] Personal Financial Statement
  • [ ] Organizational Papers (Articles, dba papers, etc.)
  • [ ] OTHER:

FOR OFFICE USE ONLY:
Bank Loan Application Review Example
Reviewed by:___________________________