A 5 Part Series on Business Plans: Part 5- Supporting Documents

Lenders will want to see documentation that supports all of your information.  There are many types of documents that can be included, but there are several that are considered to be the most common.

Personal resumes  should be included for all owners and anyone in management. Each resume should be a one-page document that includes work history, educational background, special skills for the job, and any special afiliations to, and recognitions by, organizations.

Financial statements for the owners which shows personal assets and liabilities.

Credit reports from all suppliers and wholesalers as well as credit bureaus and banks.

Any lease or mortgage copies should be included.

Any legal documents, including contracts, will be written in this section.  Make sure you include papers regarding your legal structure, insurance, limited partnerships or proprietary rights.

Contact Person CPA Group for help with your financial plan.

David W Huff, CPA, PFS, MS is a partner at Person CPA Group. He provides clients with tax preparation and consulting services, accounting services, retirement plan and benefit consulting, accounting software technical support and training, and management advisory services. His specialty is helping new businesses organize their operations to maximize tax savings and move quickly from start-up to profitability.  You can reach David by email at: david@personhuffcpa.com