Personal Financial Statement
Below is a personal financial statement and a list of information you may need to bring to your loan officer in order to complete an application for commercial/ag loans. Please reach out to a commercial or ag officer or call us at 815-626-0614 for an appointment to go over your needs.
Loan Checklist
| Individual | LLC | Corporation | Partnership |
|---|---|---|---|
| Phone Number | Phone Number of all Owners over 20% | Phone Number of all Owners over 20% | Phone Number of all Owners over 20% |
| Email of all Owners over 20% | Email of all Owners over 20% | Email of all Owners over 20% | |
| Driver’s License | Driver’s License of all Owners over 20% | Driver’s License of all Owners over 20% | Driver’s License of all Owners over 20% |
| Mother’s Maiden Name | Mother’s Maiden Name of all Owners over 20% | Mother’s Maiden Name of all Owners over 20% | Mother’s Maiden Name of all Owners over 20% |
| Personal Financial Statement | Personal Financial Statement of Owners over 20% | Personal Financial Statement of Owners over 20% | Personal Financial Statement of Owners over 20% |
| Personal Tax Returns | Personal Tax Returns of all Owners over 20% | Personal Tax Returns of all Owners over 20% | Personal Tax Returns of all Owners over 20% |
| Internal Financial Statements for Business/Debt Schedule/Projections, etc. | Business Tax Returns for the Business | Business Tax Returns for the Business | If a Business Tax Return is filed, Business Tax Returns are required |
| Articles of Organization filed with the State | Articles of Incorporation filed with the State | Partnership Agreement (signed) | |
| Operating Agreement (signed) | By-Laws/Operating Agreement (signed) | Internal Financial Statements for Business/Debt Schedule/Projections, etc. | |
| Memorandum of Action (signed) | Board Resolution (signed) | ||
| Internal Financial Statements for Business/Debt Schedule/Projections, etc. | Internal Financial Statements for Business/Debt Schedule/Projections, etc. |
Note: This is a general list of information that is needed to start underwriting a loan. Any request may be subject to receiving additional information that will be specified in each case by the lender. This information does not constitute a commitment by Sterling Federal Bank. It is simply a checklist for borrowers as they prepare their request.
Transaction Information
| Real Estate | Other |
|---|---|
| Rent Roll | Sales Agreement/Purchase Contract |
| Copies of Signed Lease Agreements | Identification of equipment/vehicles being purchased on Sales Agreement (VIN or Serial Number) |
| Prior Evaluations on Property | Purchase Price on Sales Agreement |
| Prior Environmental Phases or Inspections on Property | Business Purchase Agreement – Details of Purchase |
| Address, Parcel Identification Numbers, etc. | |
| Sales Contract (signed) |
Note: This is a general list of information that is needed to start underwriting a loan. Any request may be subject to receiving additional information that will be specified in each case by the lender. This information does not constitute a commitment by Sterling Federal Bank. It is simply a checklist for borrowers as they prepare their request.
