Getting Ready to Borrow

Whether it is the start-up or growth phase, sooner or later most businesses need to borrow money. While every loan process may be different, there are several things you can do to make the loan process easier. Most importantly, remember that loan officers are looking at many things, not just your financial record. There is an old adage – banks lend based on credit and repayment ability not just against collateral.

Consider the type of loan.

  • Have you investigated all the alternative types of capital sources?
  • Does the term of the loan you are seeking match up with the purpose for which it is being taken out?
  • Does the amount of the loan you are seeking match up with your projected cash flow?

Documentation you may need.

  • Tax returns – company and potentially personal tax returns.
  • Financial statements – last couple of years and year-to-date.
  • Cash flow history and projection.

Business plan.

  • Do you have an overall business plan and is it current?
  • Does it include important information like major customers, suppliers, and key employees?
  • Do you have a current marketing plan and are you following it?

Business practices.

  • Does your accounting system adequately show the condition and results of the business?
  • What is your accounts payable policy? How current are your receivables? Do you take advantage of any discounts for prompt payment?
  • What type of insurance coverage do you have? Is there adequate insurance for liability and property damage?


  • Are all your tax filings current (payroll, property, income)?
  • Are your returns prepared by a qualified professional to help you ensure your tax benefits are maximized?


Applying for a loan can be a stressful experience. In many cases, the loan officer will not be familiar with your business or perhaps even your industry. The officer’s job is to fully investigate you and your company and then make the approval decision or present your loan to an approval group. Being prepared can help make the process easier, less stressful and hopefully improve your chances of getting your loan approved.

At CSB, our experienced, local experts are ready to help you and your business. Our business bankers take the time to learn about your businessmake recommendations to help you succeed

We will help you through every step outline above. 

That's what makes CSB your go-to bank for commercial lending.

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Prepared for informational purposes only. Please consult with a legal and tax professional for specific guidance.