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What information is needed to apply for a business loan?

January 21, 2020 | Leah Driver

Perhaps you're ready to apply for a business loan, but you're not quite sure where to start. Although exact documentation needs may vary according to loan type, the following list is a great place to start.


  • Three years of business tax returns
  • Three years of personal tax returns for anyone who owns 20% or more
  • Completed and signed Personal Financial Statement
  • Most recent Profit & Loss Statement, preferably within the last 90 days
  • Current balance sheet that includes your long-term debt schedule with rates and line of credit limits
  • Current Accounts Receivable and Accounts Payable aging reports (if applicable)
  • Three years of tax returns for closely related entities (if applicable)
  • Value of items that will be collateralized
  • Rental schedule (if applicable)
  • Any other supporting documentation


Your lender will let you know if additional documentation is needed, and answer any questions you might have about the above list. If you're not currently working with a lender, give one of our Relationship Managers a call.

The views, information, or opinions expressed in this article are solely those of the author and do not necessarily represent the views of Citizens State Bank and its affiliates, and Citizens State Bank is not responsible for and does not verify the accuracy of any information contained in this article or items hyperlinked within. This is for informational purposes and is no way intended to provide legal advice.