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Loan Application Document Checklist for Recruitment Agency​

  • 1. Business Plan

    • Description: A detailed outline of your recruitment agency's business model, market analysis, growth strategy, and financial projections.
    • Purpose: To demonstrate the viability, strategy, and long-term financial planning of your business to lenders.

  • 2. Financial Statements

    • Description: Recent balance sheets, profit and loss statements, and cash flow statements.
    • Purpose: To provide a snapshot of your agency's financial health and historical performance.

  • 3. Tax Returns

    • Description: Both personal and business tax returns for the last two to three years.
    • Purpose: To verify income and tax compliance, which helps lenders assess risk.

  • 4. Bank Statements

    • Description: Recent personal and business bank statements.
    • Purpose: To demonstrate cash flow and financial stability.

  • 5. Legal Documents

    • Description: Includes LLC operating agreement, articles of organization, and other relevant legal documents.
    • Purpose: To confirm the legal structure and legitimacy of your business.

  • 6. Credit Report

    • Description: Personal and, if available, business credit reports.
    • Purpose: To assess credit history and creditworthiness.

  • 7. Collateral Documentation

    • Description: If the loan is secured, documents detailing the collateral.
    • Purpose: To provide details of assets that can be used as security for the loan.

  • 8. Business Licenses and Permits

    • Description: Proof of all required licenses and permits for operating a recruitment agency.
    • Purpose: To verify compliance with regulatory requirements.

  • 9. Identification Documents

    • Description: Personal identification documents like a driver’s license or passport.
    • Purpose: For personal identification and verification of the applicant.

  • 10. Insurance Policies

    • Description: Any relevant business insurance policies.
    • Purpose: To show risk management through insurance coverage.

  • 11. Debt Schedule

    • Description: A list of any outstanding debts or financial obligations of the business.
    • Purpose: To provide a complete picture of existing debts, aiding in the assessment of financial position.