Loan Package Checklist

Now that you're ready to apply for a business loan at Bank of Ann Arbor, please take a moment to go over the following checklist and bring this information with you when you come in for your meeting with the lender. By bringing a complete loan package, you will ensure the fastest service and best loan structuring for your particular situation.

To arrange a meeting with a commercial lender, please contact us at 734-662-1600.
If you have been in business for at least three years, the following information will be needed:
  • Three years of financial statements including balance sheets and income statements.
  • Three years of complete business tax returns
  • Interim financial statements if it has been more than three months since the fiscal year-end or if there have been significant changes in the business.
  • A completed personal financial statement of all owners/partners
  • Two years of personal tax returns (all schedules attached) and K-1's of all owners/partners
  • A current Accounts Receivable and Payable aging (if applicable to your business)
If you have been in business for less than three years, the following information will be needed:
  • All financial statements including balance sheets and income statements to date.
  • Any business tax returns that have been filed to date
  • A completed personal financial statement of all owners/partners
  • Two years of personal tax returns (all schedules attached) and K-1's of all owners/partners
  • A current Accounts Receivable and Payable aging (if applicable to your business)
If you are starting or acquiring a business, the following information will be needed:
  • A completed business plan including a description of your business, the market in which it will operate, key management, and at least three years of projections.
  • A completed personal financial statement of all owners/partners
  • Two years of personal tax returns (all schedules attached) and K-1's of all owners/partners
  • Business valuation (if acquisition)
  • Copy of lease
  • Copy of purchase agreement (if acquisition)
  • Verification of source of cash for equity into acquisition or business startup
If you are applying for a loan secured by real estate, we will need the following information:
  • A legal description of the property including the parcel ID number
  • A prior appraisal if available
  • A copy of the purchase agreement if it's a new purchase
  • Copies of leases (applies to both new purchase or existing real estate)
  • Historical expense information on the property (applies to both new purchase or existing real estate)
  • Two years of personal tax returns and K-1's of all owners/partners
  • A completed personal financial statement of all owners/partners
  • Three years of tax returns of the entity which holds the real estate
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