What are docs for business loan

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Accepted Answer

Documents required for a business loan include financial statements, tax returns, business plan, and legal documents.

Financial statements: such as balance sheets, income statements, and cash flow statements.
Tax returns: both personal and business tax returns for the past few years.
Business plan: outlining the purpose of the loan, financial projections, and market analysis.
Legal documents: such as business licenses, permits, contracts, and leases.
Collateral documentation: if the loan requires collateral, documents related to the collateral's ownership and value.
Personal identification: such as driver's license, passport, or social security number.
Bank statements: to provide a snapshot of the business's financial health and cash flow.
Credit history: including credit reports and scores of the business and its owners.
Proof of insurance: if required by the lender.
Other supporting documents: industry-specific documents, references, and any additional information requested by the lender.

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