Your Loan Package
Applying for a Business Loan
Business loans require detailed analysis. The quality and extent of the information you submit to your loan officer makes a difference on how fast you receive an answer on your application. Below is the information typically necessary to underwrite a business loan application. If you are new to business borrowing, get additional helpful guidance on preparing your loan application package.
Your loan application compiles a lot of pertinent information for your loan officer to begin reviewing your request. Don’t let the form limit you, if you need more room use another sheet of paper. Please complete the Tongass Federal Credit Union Business Loan Application first.
View and print the Tongass Federal Credit Union Business Loan Application.
Supporting Documents Needed For Established Businesses:
- Financial Information to include:
- Profit and Loss Statement and Balance Sheet
Current year-to-date earnings statement and current balance sheet listing all assets and liabilities of the business (no personal items).
- Last Two Years Business Tax Returns
Please be sure they are complete copies with all attached schedules.
- Personal Financial Statement
Current personal financial statement for each owner, partner or stockholder
View and print a Personal Financial Statement Form
Supporting Documents Needed For New Businesses:
- Personal Tax Returns
Last two years for each owner, partner, or stockholder owning 20% or more of the business.
- Business Plan
Please provide a copy of your business plan complete with projected income and expenses. View and print a suggested business plan outline.
- Management Experience
Resume or letter describing experience and management capabilities for each owner, partner or stockholder with 20% or more share of the business.
- Personal Financial information
Personal Financial Statement and Tax Returns as described above. View and print a Personal Financial Statement Form.