After an initial interview, you and I will decide if the transaction is viable (from a lending institution’s perspective). Assuming we decide to proceed, the following items will be needed in order to pre-qualify your car wash loan. We have tried to make this list as streamlined as possible.
1. List of project costs. If the project is a purchase, please include the sales contract. If the project involves construction, please provide a detailed cost breakdown from your contractor.
2. Complete personal tax returns for three years with W-2’s
3. Complete tax returns for three years on the car wash that you own or are purchasing
4. Year-to-date profit and loss statement (current within 60 days)
5. A copy of your credit report with score. The lender will eventually pull their own copy, but by supplying your own copy the number of inquiries listed on your report will be minimized.
6. Personal Financial Statement. This form can be obtained by going to http://sba.gov/sbaforms/sba413.pdf.
7. Photos of car wash (or the proposed site)
Please help me (and yourself) by thoroughly complying with this list.