Step 3: Final Qualification

Welcome to the final stage of qualification! If you have made it this far in the small business loan process then things are looking good. There are just a few more pieces of information that BCI Lending needs from you before we can issue a commitment letter.

Finishing the Loan Process

1. A detailed breakdown of total project costs, including:
   • Building construction
   • Acquisition of real property or equipment
   • Leasehold improvements
   • Any debt to be refinanced
   • Working capital needs
   • Closing costs
2. Three (3) years of historical financial statements on your small business, including:
   • Income statements
   • Balance sheets
   • Cash flow statements (with accountant notes)
3. Interim financial statements on your small business dated within 60 days of your business loan application.
4. Projected financial statements for your small business:
   • Operating projections for three (3) years, to include: monthly spreads of income and cash flow for the first year and annual spreads of income and cash flow for the second and third years.
   • Include projections for repayment of the proposed loan and any other debt to be incurred.
   • Start-up balance sheet showing the proposed distribution of assets, liabilities, and equity.