Northern Initiatives Prosperity. Money and Know How

Small Business Loan Application Checklist

April Post2Many of us find it easier to complete tasks at work or home when we develop a list and post it in a visible location. There’s a sense of fulfillment each time we’re able to literally check off an entry as we get it done. Northern Initiatives facilitates a similar approach to loan applications with an online checklist to guide you through the process.

 

Whether you own a new startup hoping to establish your niche or an existing business trying to expand, financial capital is essential to achieving those goals. Northern Initiatives has provided nearly 1,000 small-business loans to customers throughout northern Michigan and bordering Wisconsin. We have recently simplified the process for obtaining one, with a consolidated package of online forms and resources.

 

The first step is to complete a brief online inquiry that connects you directly with the loan officer serving your area and generates a response within two business days. From there, you can consult the loan application checklist to determine which materials you need to gather to begin making progress toward your dreams. Requirements vary, depending on whether you are seeking capital for a startup or existing business.

 

Startup Business Loan Application Checklist:

Checkbox2 Small Business Loan Application

Checkbox2 Business Plan, including Balance Sheet, Income Statement and Cash Flow Projection

Checkbox2 Copy of Driver’s License for each Borrower

Checkbox2 Personal Federal Income Tax Returns (last 2 years)

Checkbox2 Business entity paperwork, such as articles of incorporation or organization (if complete)

 

Existing Business Loan Application Checklist:

Checkbox2 Small Business Loan Application

Checkbox2 Copy of Driver’s License for each Borrower

Checkbox2 Personal Federal Income Tax Returns (last 2 years)

Checkbox2 Business Federal Income Tax Returns – Last 2 years

Checkbox2 Current year-to-date Balance Sheet and Profit & Loss Statement

Checkbox2 Business entity paperwork, such as articles of incorporation or organization

 

Once you make it through the loan application checklist, you can download a small business loan application and complete it yourself or request guidance from a Northern Initiatives loan officer.

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