Most business loan files are delayed by a missing or out-of-date document, not by bad numbers. This free two-page checklist shows what lenders usually ask for and the key ratios to check before you apply.
- The 10 documents banks usually request, with a tick box for each
- DSCR, current ratio, quick ratio and other key numbers
- A quick pre-submission check
Free Business Loan Application Checklist
The 10 documents lenders usually ask for, plus the key ratios to check before you apply, on a printable 2-page checklist. Enter your email and download it free.
We only use your email to send the download and occasional helpful updates. Ask us any time to remove it. See our Privacy Policy.
Want to test your numbers first? Try the free DSCR calculator and borrowing capacity calculator.
Why a checklist saves weeks
When a loan file reaches a credit team, the first thing the analyst does is check that it is complete. A missing bank statement, an unsigned set of accounts or an expired tax certificate can send the file back to the branch. A full cycle of questions and answers often adds two to four weeks. The checklist helps you send a complete file the first time.
What is inside
Page 1: documents. The ten documents banks usually ask for, including financial statements, bank statements, tax returns, a business profile, an ownership structure, a list of existing borrowings, collateral documents and KYC papers. Each has a tick box and a note on what “complete” means. For the full explanation of each one, read 10 documents banks usually ask for in a business loan application.
Page 2: numbers. The ratios a credit analyst calculates first, with the ranges lenders commonly look for:
| Ratio | What it shows | Where to learn more |
|---|---|---|
| DSCR | Can cash flow cover all debt payments? | DSCR explained |
| Current and quick ratio | Short-term liquidity | Current ratio vs quick ratio |
| Debtor days and inventory days | How quickly cash comes back | Debtor days explained |
| Loan-to-value | How well collateral covers the loan | Collateral and loan-to-value |
How to use it
- Download the checklist and print it, or fill it in on screen.
- Collect every document and tick it off. Note anything that is out of date.
- Calculate the key ratios with the free calculators linked above.
- If any ratio is weak, prepare a short explanation before the bank asks. Lenders respond much better to a problem you have already explained than to one they discover.
- Submit the complete file in one go.
Who it is for
The checklist is written for owners and finance managers of small and mid-sized businesses applying for a term loan, a working-capital line or trade finance. It works for conventional and Islamic facilities alike, since the documents and credit tests are largely the same.