Colonial Savings Bank: Commercial Loan Checklist

Commercial Loan Request Form Information Checklist

The following checklist will help you gather the necessary information for the initial evaluation of your commercial loan request. The more complete the information, the faster your application will be processed. Should you have any questions, please do not hesitate to contact your Relationship Officer or Loan Consultant.

Commercial Loan Request

	Commercial Loan Application

	Management Resume One must be provided for each member of the management team, owners, partners, directors or significant stockholders.

	Authorization to Pull Credit History Reports Must be completed and signed by all critical members of the management team and any guarantors and owners.

	Company History

	Business Financial Statements Financial statements for the last 3 years. They must be audited, or must be dated and signed by owners or management. If balance sheet is more than 90 days old, an interim financial statement must also be provided which is not more than 45 days old.

	Accounts Receivable Aging Not more than 45 days old.

	Accounts Payable Aging Not more than 45 days old.

	Inventory report Not more than 45 days old.

	Schedule of Business Debts Detailed as the date of any interim financial statements.

	Business Tax Returns For most current period

	Projections Minimum 3 years projections. Must be sure to include assumptions that support the projections.

	Personal Financial Statements Form can be provided or they can be accountant prepared. Must be signed and dated by individual.

	Guarantor Tax Returns For most current period.

	Request for Transcript of Tax Return (Form 4506-T) For the business and any guarantors, if required.

For Commercial Real Estate Loans

	Purchase Contract or Buy/Sell Agreement Must be sure to include all exhibits and addenda

	New Construction Budget or Contract Budget Contract Plans Specifications Refinancing Information Copy of Promissory Note, including any extensions or amendments Copy of Deed of Trust, including any extensions or amendments

	Appraisal Most recent appraisal Most recent tax appraisal Property legal description

For Acquisition Loans

	Purchase Contract or Buy/Sell Agreement including all exhibits and addenda

	Financial information of business to be acquired historical and projected

For Purchase of Equipment or Machinery

	Purchase order or invoice

	Detailed description and specifications of equipment to be purchased

	Appraisal of machinery or equipment if available

	If refinancing, please provide Detailed list of equipment and machinery to be refinanced Serial numbers Date of purchase or age of equipment Copy of original financing notes