Bank of Ann Arbor Routing Number: 072413735
Bank of Ann Arbor SWIFT BIC: ANNAUS33
Bank of Ann Arbor NMLS ID: 532149
The right checking for your everyday money and savings options for your long-term goals. With easy-to-use online tools and mobile apps too.
You need to devote your energies to the health and growth of your business. We'll help with the financial resources and tools to fuel it.
You work hard to accumulate wealth for your family's needs. We'll help you with retirement and sharing it with loved ones or a favorite charity.
Our mission is helping our communities thrive through our time, effort, financial resources, and making our customers our top priority.
Bank of Ann Arbor's loan application process is quick, the rates are competitive, the loan terms are flexible,
and our commercial loan officers are attentive and friendly. In order to begin the loan application process,
you should gather some basic information to present to the lender. This information is called the loan package.
A loan package is the information a lender needs to understand your business and make
a fast and informed decision on the products that are right for you. When developing your
loan package, you will need to include a description of your products and services, an overview
of key personnel and their backgrounds, a description of the market in which you operate (competition),
and future plans for your company.
Financial information on your business provides the key to understanding how your business has performed in
the past and why it may need a loan. The following basic financial information will be required to evaluate
your loan application:
If your business is more than three years old, we will request three years of financial statements
and business tax returns; if less than three years old, we will request all financial statements and tax
returns to date.
If you are just starting your business, we will request an opening balance sheet and projections as well as a completed business plan.
By providing complete financial information, you help communicate your financial condition and the results of your operations to a lender.
The statements should be prepared in "generally accepted accounting principals" so they can be easily understood. A Certified Public Accountant
or business consultant can assist you in preparing the necessary information.
In many cases, you will also be asked to provide a personal financial statement and personal tax returns for
the past two years. This provides the lender with a clear idea of the relationship between your personal and business finances. Upon receipt of
all necessary financial data, a lender will then review your loan and begin the credit process.
Loans are subject to credit approval, verification, and acceptable collateral evaluation.
Bank of Ann Arbor is an equal opportunity lender.
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