What information do I need to provide to apply for a small business loan?

When applying for a small business loan, you will typically need to provide some basic information about yourself and your business, as well as documentation to support your application. Here are some of the common requirements for a small business loan application:

1. Basic information: You will need to provide your name, contact information, and some basic details about your business, such as its legal structure, industry, and location.

2. Business plan: Many lenders will want to see a detailed business plan that outlines your goals, strategies, financial projections, and other key information about your business.

3. Financial statements: You will typically need to provide financial statements for your business, including balance sheets, income statements, and cash flow statements. These documents will give the lender a clear picture of your current financial situation.

4. Tax returns: You may be asked to provide personal and business tax returns for the past few years.

5. Collateral: Some lenders may require you to provide collateral to secure the loan, such as real estate, inventory, or equipment.

6. Credit history: You will typically need to provide information about your personal and business credit history, including credit scores and any past bankruptcies or defaults.

7. Legal documentation: Depending on the type of loan and your business structure, you may need to provide legal documentation such as articles of incorporation, partnership agreements, or business licenses.

It's important to note that the specific requirements for a small business loan application can vary depending on the lender and the type of loan you are applying for. Be sure to check with the lender to understand what documents and information they will need from you.