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What you'll need to apply

For all businesses, we require the following information about your business:

  • Name
  • Business street address (no PO Boxes) and date moved to current address
  • Phone number
  • Tax ID
  • Nature of business
  • Date the business was established
  • Business acquisition date of current ownership
  • Number of employees
  • Annual net profit
  • Annual gross sales
  • List of outstanding obligations, if any (list should include lender, current loan balance or credit limit, and monthly payment)

We also require the following information about each business owner, guarantor and controlling manager:

  • Name and title of the person opening the account
  • Name and address of the entity for the account
  • Name, date of birth, Social Security number(for U.S.citizens), passport number and country of issuance(for foreign individuals), residential address, country of citizenship, country of residence and percentage of ownership for each beneficial owner
  • Name, date of birth, Social Security number(for U.S.citizens), passport number and country of issuance(for foreign individuals), residential address, country of citizenship and country of residence for each controlling individual (this information is required even if no equity owner has 25% or greater ownership)
  • Certification that the information provided on the beneficial owner and/or the controlling manager is accurate
  • Personal income
  • Residence status (rent or own) and monthly housing payment
Where applicable, we will also require specific information about the equipment, vehicle or real estate you intend to finance.
Please note that our loans (and some leases) may require your payments to be auto-debited from a Bank of America business checking account. You do not need a business checking account to apply, but if your financing is approved we can help you open one during the closing process.

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