What is a “Loan Package”?

post Category: Business Loans — davidguide @ 2:56 pm — post
postSeptember 17, 2007

A “Loan Package” is the paperwork you submit to the bank in order to apply for a loan.  The Loan Package includes the following:

  1. Business Plan
  2. Business Financial Projections
  3. Personal Financial Information
  4. Personal Tax Statements
  5. Information about business, location, sales contracts, etc.
  6. Business Owners’ Resumes

The loan officer will give you all the information necessary for the loan application.  Often they require a Business Plan and Financial Projections; you can find assistance from your local Small Business Development Offices (SBDC). To find an SBDC near you go to www.nyssbdc.org. The SBDC advisors actively build relationships with lenders, and can refer you to a lender that will work with you.

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