Working capital is the cash available to finance a company’s short-term operational needs. This type of loan should be used to make improvements, expand your business, etc.
An example of a working capital loan would be financing for a business to create forms, make office improvements, and launch a marketing campaign. This type of loan requires that you submit a business plan along with your application and other documents.
What you'll need
By bringing a complete loan package, you'll ensure the fastest service and best loan structuring for your particular situation and needs.
In order for us to review and respond to you business loan request, we require the following documents with original signatures and dates:
For all guarantors and individuals who own or control 20% or more of the business:
- Personal financial statement (contact us for this form)
- Personal federal tax returns (minimum past 2 years with all K1s, W2s, and supporting schedules)
For the business:
- Business loan application (contact us for this form)
- Business debt schedule (contact us for this form)
- Business financial statements (past 2 fiscal year-ends of Balance Sheet & Income Statement)
- Interim financial statements (dated within 60 days of application)
- Business federal tax returns (including all supporting schedules for past 2 years)
- Business plan
- Current Accounts Receivable (A/R) and Accounts Payable (A/P) aging reports
- Business licenses and registrations required for you to conduct business
- Articles of Incorporation/Organization (501c3, if tax-exempt)
- Bylaws
Depending on your unique circumstances, additional documentation may be required. If you're not sure where to get started, our Commercial Team is ready to answer your questions!