Small Business Loans
Loan Requirements
Requirements for a loan depend on your form of incorporation and length of time in business.
Please note that we do not make unsecured loans and collateral is required in all cases.
Microloan ($500 – $10K) Requirements
Established Business (2+ years old)
- Registered Business (e.g. sole proprietorship, LLC, etc.) in southern Arizona
- Business Bank Account
- Previous 3 months business bank statements
- Profit & Loss / Income Statement – Most recent year and/or YTD
- Balance Sheet / Statement of Financial Position – Most recent year and/or YTD
- Previous Year Business Tax Return
- Credit Report for each owner (pulled by CIC upon application)
- Copy of driver’s license or government issued photo ID for each owner
- Willingness to sign a Personal Guarantee (all owners and spouses)
- Other documentation as requested
Early Stage Business (<2 years old)
- Registered Business (e.g. sole proprietorship, LLC, etc.) in southern Arizona
- Business Bank Account
- Completed Business Plan and/or Lean Canvas
- Pro Forma Financial Statement
- 3 Months’ Bank Statements*
- Previous Year Business Tax Return, if available
- Business Financials, if available
- Copy of driver’s license or government issued photo ID for each owner
- Credit Report for each owner (pulled by CIC upon application)
- Willingness to sign a Personal Guarantee (all owners and spouses)
- Other documentation as requested
* If business bank statements are not available, provide what is available AND previous 3 months of personal bank statements
Standard Loan ($10K to $100K) Requirements
Established Business (2+ years old)
- Copy of driver’s license or government issued photo ID for each owner
- Registered Business (e.g. sole proprietorship, LLC, etc.) in southern Arizona
- Business Bank Account
- Previous 3 months business bank statements
- Previous 2 years business tax returns
- Previous 2 years personal tax returns
- Previous 2 years business financials (actuals) including Profit & Loss Statement and Balance Sheet
- Credit Report (pulled by CIC upon application)
- Willingness to sign a Personal Guarantee
- Other documentation as requested.
Early Stage Business (<2 years old)
- Copy of driver’s license or government issued photo ID for each owner
- Registered Business (e.g. sole proprietorship, LLC, etc.) in southern Arizona
- Business Bank Account
- A completed business plan or lean canvas
- Name and contact information for 2 business references
- Previous 3 months business bank statements*
- Any business tax returns, if available
- Previous 2 years personal tax returns
- Any business financials (actuals) including Profit & Loss Statement and Balance Sheet
- If business financials are not available, provide a Pro Forma (business projections) for upcoming 2 years
- Credit Report (pulled by CIC upon application)
- Two Business References
- Willingness to sign a Personal Guarantee
- Other documentation as requested
* If business bank statements are not available, provide what is available AND previous 3 months of personal bank statements
Are you still in the early stages of your business? We have tools that are useful in developing your ideas or taking the next step in growth!
WHAT TYPE OF LOAN IS FOR ME?
If you are interested in applying for financing, please fill out our inquiry / pre-application form. This will help us learn more about which product offerings might apply to you, and will ensure you don’t waste your time by filling out the wrong application.
For more information
If you are not ready to apply but would like to discuss the possibility of a loan or have questions, we are here to help!
Contact us at lending@cictucson.org or 520-529-1766 x206.