SBA LOANS

Business Acquisitions

Community Bank offers financing for acquisition of existing businesses or for acquisition of 100% stock ownership or partnership buy-out.

Community Bank will need the following items to begin the loan application process:

From the seller:

• > Tax return for the last 3 years
• > Financial statements for the last 3 years
• > Interim financial statement dated within the last 60 days
• > Copy of accounts receivables and accounts payables
• > Description of business
• > Copy of the Purchase Agreement
• > Copy of existing Lease Agreement

From the borrower/buyer:

• > Business tax returns for the last 3 years
• > If borrower has ownership in affiliate businesses, we will need copies of the last 3 years tax returns and financial statements
• > Personal Financial Statement and the last 3 years tax returns from all individuals with 20% or more business ownership
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• > Completed loan application documents
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