Commercial Loan Checklist

Now that your business is ready to apply for a commercial loan at Clarkston State Bank, please take a moment to go over the following checklist and bring this information with you when you meet with one of our the lenders. By bringing your complete loan package of information, you will ensure the fastest service and best loan structuring for your particular situation. We serve businesses throughout Michigan and make all of our decisions locally.

To arrange a meeting with one of our commercial lenders, please contact us at (248) 922-2700.



First Step: Download and complete a Personal Financial Statement



If you have been in business for at least three years, the following information will be needed:

  • Three years of financial statements including balance sheets and income statements
  • Three years of complete business tax returns
  • Interim financial statements if it has been more than three months since the fiscal year-end or if there have been significant changes in the business
  • A completed personal financial statement of all owners/partners
  • Three years of personal tax returns (all schedules attached) and K-1’s of all owners/partners
  • A current Accounts Receivable and Payable aging (if applicable to your business)

If you have been in business for less than three years, the following information will be needed:

  • All financial statements including balance sheets and income statements to date
  • Any business tax returns that have been filed to date
  • A completed personal financial statement of all owners/partners
  • Three years of personal tax returns (all schedules attached) and K-1’s of all owners/partners
  • A current Accounts Receivable and Payable aging (if applicable to your business)

If you are starting or acquiring a business, the following information will be needed:

  • A completed business plan including a description of your business, the market in which it will operate, key management, and at least three years of projections.
  • A completed personal financial statement of all owners/partners
  • Three years of personal tax returns (all schedules attached) and K-1’s of all owners/partners
  • Business valuation (if acquisition)
  • Copy of lease
  • Copy of purchase agreement (if acquisition)
  • Verification of source of cash for equity into acquisition or business startup

If you are applying for a loan secured by real estate, we will need the following information:

  • A legal description of the property including the parcel ID number
  • A prior appraisal if available
  • A copy of the purchase agreement if it’s a new purchase
  • Copies of leases (applies to both new purchase or existing real estate)
  • Historical expense information on the property (applies to both new purchase or existing real estate)
  • Three years of personal tax returns and K-1’s of all owners/partners
  • A completed personal financial statement of all owners/partners
  • Three years of tax returns of the entity which holds the real estate

Loans are subject to credit approval, verification, and acceptable collateral evaluation.

Clarkston State Bank is an equal opportunity lender.