Loan Application Guide
Step 1: Make sure your loan purpose is clear
Know how you’ll use your loan and how much you’ll need to borrow to meet your goal and how the loan fits into your overall business plan. With a clear plan in place, you’re one step closer to unlocking your business loan.
Step 2: Solidify your business plan
Before you start your loan application, you’ll want to make sure your business plan is up-to-date. Your business plan should include:
- An executive summary
- Details on your business operations
- A summary of its history and future plans
- A market analysis outlining who your competitors are in your industry
Step 3: Organize your financial statements and tax returns
Having updated financials on hand allows you to move quickly through the application process. Check the list of required documents below and have each ready to go so you don’t have to waste time looking for them during the application process.
Step 4: Start your Pursuit business loan application
With the click of a button, you have access to more than 15 loan programs directly offered by Pursuit. The application process varies depending on what loan you’re applying for, but each one starts by answering the following series of short questions. Our team is here to match you with the loan program that best fits your financing needs and use of funds.
General business information
In addition to your business plan, the following questions will help your Pursuit lender understand of your business:
- Your business’s location
- Your ownership structure
- The industry your business operates in
- How many employees your business has
Step 5: Complete your loan application
Continuing the application, the following questions will help your Pursuit lender place you with the appropriate loan program.
Provide a snapshot of your business’s financial picture with documentation such as:
- Business taxes
- Interim financials
- Debt schedule
Please keep in mind that your Pursuit loan officer may ask for additional financial information later on, depending on how you plan to use your loan.
Lastly, you’ll submit a handful of personal documents including:
- Personal taxes
- General personal information (home address, birthday, etc.)
- A photo I.D. that may include a drivers license, passport, or military I.D.
Please note that additional information may be requested after submitting your initial application.
Step 6: Submit your Pursuit business loan application
Submit your application and your Pursuit lender will be in touch to collect any additional necessary information, and talk through the loan options that best suit your financing needs.
Take the guesswork out of finding the right financing for your business. Come through our door, and you’ll find that others will open.