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To prepare for a 504 loan application, there are a number of items you may be asked to provide. Here is a list of typical items.
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Business Information
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- A history and description of the business. (Form)
- Business financial statements for the past three years.
- Interim financial statements dated within the last 60 days.
- Projected income statements for two years after the loan. (Form)
- Monthly cash flow analysis for the first 12 months of operation (if business less than two years old).
- Business debt schedule.
- Federal tax returns for the past three years.
- Articles Of Incorporation and By-Laws (if Corporation).
- Article of Organization and Operating Agreement (if LLC).
- Partnership agreement (if Partnership).
- Franchise agreement (if Franchise).
- Names of affiliated businesses as well as two years of financial statements for each firm.
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Personal Information for each owner of 20% or greater
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- Personal tax returns for the last two years.
- Personal resume. (Form)
- Personal financial statement.
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Real Estate Information
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- Real Estate Purchase Agreement or settlement sheet.
- Construction cost budget and/or equipment invoices.
- Existing environmental studies.
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