Application Highlights
- Two letters of recommendation
- All payments made Automatic Clearinghouse (ACH)
Application Process
Staff helps business owners to develop, complete or provide essential items needed for the loan package, such as (depending upon whether the business is new or existing):
- A complete business plan that includes the owner(s) resume, if available;
- Historical financial statements (2 years if available);
- Projected financial statements and cash flow projections (3yrs min. – 5yrs preferred);
- A description of the business' financing need as well as the source and use of funds;
- Information regarding the credit background of the applicant;
- Description of collateral;
- Information regarding the proposed loan structure;
- Accounts receivable and payable aging scheduled and a breakdown of inventory composition where appropriate;
- Personal financial statements from all company owners; and
- Personal and business tax returns (2 years).
Contact an EOF Loan Officer at 215.564.5500 or lendingofficer@worc-pa.com for a loan application or for more information.
