What to have ready.

You do not need a perfect packet to start. The first list is what the application asks for. The second list is what a lender may ask for once the file is moving. You can start now and add documents later.

To start the application

• What the money is for
• Roughly how much you are asking for
• Legal name of the business
• Business address
• EIN, unless you are a sole proprietor
• How long the business has been operating

What may be asked for later

• About 3 to 6 months of business bank statements
• A government ID for the owner
• Business tax returns, on larger or SBA files
• An accounts receivable aging and sample invoices, for factoring
• A quote or description of the asset, for equipment
• Property address, price or value, and leases, for commercial real estate

Not every file needs every item. What is asked for depends on the request and the lender reviewing it.