A Marshalltown, IA business should gather bank statements, tax returns, a current profit and loss statement, a debt list and the quote or agreement behind the request before asking for a loan. Those five answer the first questions a partner can ask; the funding type and the trade decide what comes next.
A records checklist written by Ivyhollow Lending Group in Marshalltown, Iowa for owners getting a loan folder ready. Figures are U.S. Census Bureau counts; examples use invented figures.
Business Loan Documents Required for Marshalltown, IA Contractors
For a contractor, the core set comes first, then the job records that show money coming in:
- Bank statements for the last three to twelve months.
- Two or three years of business tax returns, plus each owner's personal return.
- This year's profit and loss statement to date, with a current balance sheet.
- A list of current debts: truck, equipment and credit lines, with payments.
- Contracts, pay applications and the draw schedule for current jobs.
- Any licenses the trade holds, and certificates of insurance.
Marshall County, IA had 93 construction employer establishments in 2023, 73.1% of them with fewer than five employees (County Business Patterns). A small crew without a bookkeeper can still assemble this set from its bank and its tax preparer.
Bank statements carry a lot of weight in a small-business request, because they show money actually arriving and leaving. Download them as the bank issues them, not as screenshots, and include every account the business uses, including a separate payroll account if there is one.
Business Loan Requirements: What Marshall County, IA Retailers Prepare
A retailer's set swaps job records for sales records. Monthly POS reports show the season; the lease shows how long the store will be in its space; supplier orders and vendor quotes show what the money buys.
- Monthly sales reports for the past year.
- The current lease, with its term and renewal options.
- The supplier order, fixture quote or remodel bid.
- Last season's sell-through for inventory requests.
Retailers without a POS that reports by month can use the bank deposits instead, with card processor statements for the card share of sales. Either way, the goal is a twelve-month picture that shows the slow months as well as the busy ones, because that is the pattern a partner sets the payments against.
The retail funding page explains which funding type each kind of store purchase points to.
Business Loan Documents List: A Checklist for Marshalltown, IA Contractors
Put the folder together in the order a reviewer reads it. A one-page summary on top helps: what the money is for, how much, the funding type in mind and when the business is paid. Then the core records, then the purchase records.
- Summary page: need, amount, timing.
- Bank statements, newest first.
- Tax returns and the current profit and loss statement.
- Debt list.
- Quote, bid, contract or purchase agreement.
Keep the folder as one PDF per record type, named plainly: statements, returns, profit and loss, debts, quote. Scanned pages should be legible and complete, with every page of each statement included, since a missing page is one of the follow-up questions that adds a round to the review.
For a term loan on a building, add the purchase agreement and the property record; for equipment financing, add the dealer quote with the serial number once known.
Business Line of Credit Requirements as Marshall County, IA Contractors See It
Business line of credit requirements lean on the same core records, plus evidence that the business's money moves in a pattern a revolving limit can follow. For a Marshall County, IA contractor, that is the history of draws against payroll: when each payment arrived and when payroll went out.
Contractors can add an aging list of receivables: what each customer or general contractor owes, and how many days it has been outstanding. For a line of credit, that list is the clearest picture of how the limit would be used and repaid.
A partner may also review a line each year. Keeping the folder current makes the renewal one more update rather than a new file. The working capital page covers one-time gaps instead.
Records That Depend on the Purchase, Not the Trade
Some records depend on what is being bought rather than who is buying:
| Purchase | Records to add |
|---|---|
| Equipment or vehicle | Dealer quote, serial number or VIN, condition or hours for used items |
| Building | Purchase agreement, appraisal if ordered, property record from the county Assessor |
| Existing business | Seller's tax returns, price allocation, lease assignment |
| Inventory | Supplier order, stock on hand, last season's sell-through |
| Payroll gap | Payroll register, draw schedule or receivables list |
A request can mix purchase types. A store buying an existing business with its stock and fixtures sends the seller's returns and the price allocation, plus the stock count and the fixture list, so the partner can see which part of the price each funding type would cover.
The Marshalltown, IA business page links the local guides, and the construction page covers draws.
By Ivyhollow Lending Group · Updated
