Business bank applications checklist

Tedious bank applications are made even more tedious when you don't have the required forms on hand. Fast-track your applications with Mozo's applications checklist.

Before you apply for a small business account:

Assess your needs: Whether you're looking at a small business bank account, savings options or a business loan, determine your small business needs, including:

start-up capital

cash flow and savings

loan or overdraft requirements

Ascertain your position - get a definite picture of your small business finance:

operations and expenses

assets and debts

financing expansion

If you're applying for a loan or overdraft, you may need to provide evidence of:

your personal financial status

the expertise of you and your co-workers

your credit rating (check this beforehand)

a statement of need: short or long-term plans for the funds

a repayment schedule

Document checklist:

• Business tax returns
• Profit and loss accounts and balance sheet
• Articles of incorporation
• ID for account signatories
• A cashflow forecast

When applying for any small business bank product, it's a good idea to see if all your financial needs can be packaged by the the one institution. Read on for small business packages.