CREDIT HISTORY

• The business and its principals must have satisfactory history of meeting debt obligations in a timely manner.
• Credit checks will be performed.
• Prior bankruptcy does not immediately deny requests.

CASH FLOW

• The business must show adequate cash flow, historical and/or projected, to service the entire debt.

COLLATERAL

• Collateral and personal guarantees are required for the particular loan request.

MANAGEMENT

• The business must demonstrate that it has experienced and adequate management to operate the company successfully.

BUSINESS PLAN

• For start-up and new-to-market business; a Business Plan is required, including financial projections supported by assumptions.

INSURANCE

• Hazard insurance must equal the value of the assets pledged.
• Life insurance assignments are generally required on owners or key management personnel.

FEES

• The borrower must pay all legal fees and any other closing costs.