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Every lender and lending program is different. However, there is basic documentation required for a successful loan application.
Basic documentation Information required:
Loan application. At a minimum, the loan application requires business and personal information, the amount, purpose and banking information (checking account). The purpose must be specific and supported with appropriate documentation.
Copies of the Business and Personal Income Tax Returns for past three years (must be signed.) Be aware that the lender will confirm with the IRS the accuracy of the tax return submitted.
Company financial statements for the past three years (include income statement and balance sheet.) Interim statements may be required.
Personal financial statement.
Brazilis one of the largest economies in the world, growing at its fastest rate in at least a decade in just the first quarter of 2010. Much of Brazil’s economy is driven by consumer demand with nearly 50 percent of its population under 20 years old. Most of Brazil’s population is concentrated along the East Coast of the country with nearly 50 million people living in its densely packed cities. While Brazil is still considered a developing country, many business opportunities exist. The rising affluence of Brazil’s middle-class consumers provide a new market for minority-owned firms in the United States to consider.
The Caribbean is much more than a vacation destination with blue water and warm sand, it’s actually a steadily growing market with tremendous business opportunities for minority-owned firms. In fact, the Caribbean is the 3rd largest market for U.S. exports in Latin America – behind only Mexico and Brazil – with $18.5 billion in U.S. goods and services.
For U.S. minority-owned businesses interested in exporting but not sure where to start, the Caribbean offers close proximity to the United States and offers free trade agreements already in place.
Companies providing the following products and services should consider an export strategy:
Surety bonding is primarily needed in the construction industry on publicly funded projects.
How can a public agency using the low-bid system in awarding public works contracts be sure the lowest bidder is dependable?
How can private sector construction project owners manage the risk of contractor failure?
A surety bond is considered a part of the insurance industry, but it shares some characteristics with the credit industry. The surety company's primary duty is not to lend the contractor money. Instead, the surety company uses its financial resources to stand behind, or back, the contractor's commitment and ability to complete a contract.
It’s important to recognize that consumers are becoming more environmentally conscious. Eco-friendly practices may seem costly but can serve as a great investment for future growth in businesses as it reduces costs and creates happier customers.
Business.gov provides suggestions and information from fellow business owners as well as industry and government experts. Linked to the site, you can find a Green Business Guide that offers tons of tips on how to pursue and maintain a green business. Recommendations include how to reduce energy costs, how green technology develops energy efficient upgrades, what kinds tax credits there are to green technology developments, and more. By cutting down on expenses and becoming more consumer-friendly, your business can open up opportunities for growth.