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8 Commercial Loan Documents That Lenders Ask For

Depending on your situation and loan type, Banks often have a common set of information that they’ll ask for when you apply for a business loan.

Lenders may ask for various documents to help them understand your business and evaluate whether you qualify for the business loan you are discussing.

In this post, we will discuss the items that banks and other lenders often ask for during the application process. This list is designed to help you understand what information you may need to compile once you have connected with a lender on the Bridge built by Citi platform.


Background information on you & your business:

  • Business and/or Personal Credit Score.
    You don’t have to have documentation for this part but Lenders will often access credit scoring databases to understand the credit history for both your business and your personal credit.


  • Basic Personal Information
    The person applying for the business loan on behalf of the business will often be asked to provide some basic personal information in the lender’s commercial loan application.


  • Business Profile Information & Licenses / Permits
    Lenders will want to know basic business profile items like legal name, operating address, entity type, any trade names (also known as “DBA” names), etc. They will also ask for your Employer Identification Number (EIN) if you have one. Additionally, lenders may ask for applicable licenses and permits to ensure that your business is operating legally.

Financial Information

  • Two or Three Years of Business Financial Statements
    A key part of the loan application process involves the verification of your income and the repayment capacity of your business. Your business’s financial statements help them evaluate your ability to repay the loan you are applying for.


  • Two or Three Years of Tax Returns (business and/or personal)
    Lenders will often ask for signed copies of your business and/or personal federal tax returns for the 2-3 years prior to your loan application.


  • Business Plan
    Providing a comprehensive business plan that explains what your business is about and how you intend to use the loan will help lenders understand your needs and credit profile. Some lenders require this while others may not.


  • Bank Statements
    Lenders commonly request anywhere from the last several months to the last several years of bank statements. Bank statements help present a picture of the cash inflows and outflows of your business.


  • Personal Financial Statement (“PFS”)
    If anyone is providing a personal guarantee, lenders will often ask that a Personal Financial Statement form is completed. This form details the assets and liabilities of an individual.