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Business Application Tips

Loans and Lines of Credit

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Applying For a Small Business, Commercial Real Estate or Commercial Loan?

We want to make it easier for you!

A serious segment of our business is to make loans. To make sure you have the best opportunity to present your business credit worthiness, we recommend that you bring several items to your first meeting with a Middlefield Bank Loan Officer. This will ensure that we have the information we need to analyze your business situation and you will get a decision on your loan or credit line more quickly.

Your loan application will be made up of several components, which will include most or all of the following.

  • A completed Business Credit Application
  • Personal tax returns for the past two years (for all owners)
  • Business tax returns for the past two years
  • A personal financial statement for all owners
  • A business financial statement for the past two years
    (They should include income statements and balance sheets.)
  • Your business plan

Your Business Plan Should Include the Following:

  • Business history
  • Description of business organization
  • Planned use of loan funds
  • Source of loan repayment
  • Description of intended market and major products
  • Anticipated competition
  • Financial projections for at least one year
  • Resumes for owner(s) of the business

Additional Info Needed for Commercial Real Estate Applications:

  • For office, warehouse, or apartment buildings, you should also bring rent roll and profit and loss for the property.
  • For Purchased Transactions, you should bring a copy of the purchase agreement.