WHAT WE NEED TO GET STARTED
To get started on your commercial loan or project we will need financial information from you and your company. Our team of lenders will work side by side with you to get the job done. If you have any questions on this list, please call 320-253-6607 or contact us.
Please provide the following current and signed information.
Existing businesses:
1. Last 3 years financial statements (e.g. balance sheets, operating statements) Include rents, depreciation, interest, and officer salaries.
2. Last 90 days interim financial statement.
3. Current debt service schedule listing purpose of each loan, original amount, current balance, original date, maturity date, monthly payment, rate of interest, and lender name.
4. Last 3 years Federal tax returns for company.If you’re starting a new business, please provide:
1. Your social security number for a credit bureau inquiry.
2. 2 year projections on your new business.
3. 3 years complete personal tax (Federal) return.
4. Personal financial statements for each owner or partner of 20% or more.
5. Complete Business Plan, including details of the property to be purchased.
6. Source of funds for down payment.
Send the above information to:
Stearns Bank N.A.
4191 2nd St. S
St. Cloud, MN 56301
Attn: Community Bank Group
