Business loan requirements start with time in business and annual revenue, then move to records: statements, tax returns, a balance sheet and a list of debts. An equipment request adds the quote and any trade-in. This article lists ten records an invented Moorhead, MN print shop pulled before asking about a wide-format printer, and why a partner may ask for each.
Time in business and revenue frame a request; statements, returns and a balance sheet show the business; a debt schedule and any liens show what it already owes; an equipment request adds the quote, serial details and a trade-in offer.
Business loan requirements start with time in business and annual revenue
Two numbers frame almost any request: how long the business has operated and how much revenue it brings in a year. Partners set their own measures for both, and some may also look at credit and existing debt. Neither number alone decides a request, but both shape which products and terms a partner may offer.
The invented business here is a print shop with a few employees that wants a wide-format printer for signs and banners. County Business Patterns counted 6 printing and related support activities establishments in Clay County, MN in 2023, 3 of them with fewer than five employees, and $1.7 million in annual payroll. ZIP Code Business Patterns listed 5 with a ZIP 56560 address.
Ten records a Moorhead, MN print shop pulled before asking about a printer
- The shop's business bank statements for recent months.
- The last two business tax returns.
- A year-to-date profit and loss statement.
- A current balance sheet.
- A receivables aging report for print jobs billed on account.
- A debt schedule with every loan, lease and card balance.
- The current lease on the laminator, with its payment and months left.
- The seller's quote for the wide-format printer.
- The trade-in offer on the old printer, in writing.
- The state business filing that shows when the shop was formed.
Not every partner asks for all ten, and some may ask for others. Having them in one folder means the request does not stall while an owner hunts for a lease agreement. The business loans page covers what each product is for.
Statements, returns and a current balance sheet
Bank statements show cash moving week to week; tax returns show the year; the balance sheet shows the business on one day.
| Line | Amount |
|---|---|
| Cash | $9,860 |
| Receivables from print jobs | $21,430 |
| Paper, ink and vinyl stock | $7,915 |
| Current assets | $39,205 |
| Supplier bills due | $6,780 |
| Business card balance | $2,960 |
| Loan payments due in 12 months | $8,240 |
| Current liabilities | $17,980 |
In this invented example the shop has $21,225 of working capital, a ratio of 2.18 to 1. A balance sheet that matches the tax return and the bank statements reads as one consistent story; one that does not invites questions. For a short cash gap rather than a purchase, the working capital page has worked cases.
Existing debts, liens and leases to disclose up front
In this invented case the shop leases its laminator at $214 a month with 19 payments left, and the lessor filed a lien notice when the lease began. A lien search may show that filing, so the debt schedule names it first. A credit line balance, card balances and any cash advance belong on the same list.
Disclosing a lease or lien does not end a request. Leaving it off and having it surface later can slow a review or change an offer.
Equipment loan requirements: the quote, the serial number and the trade-in
Invented figures: the printer is $31,870 and the seller offers $2,400 for the old one, leaving $29,470 to finance. At 10.65% over 48 months the invented payment is $756.67; the 48 payments total $36,320.16, so interest comes to $6,850.16. A term loan is another route for a purchase that lasts years.
For an equipment request a partner may also ask for the model and serial number, whether the machine is new or used, and the trade-in offer in writing. To go through a list like this one, call (218) 370-3099 or start the request form. The blog has the other worked cases, from dish machines to boom lifts.
By Coralmoor Business Funding · Updated
