Why Prequalify:

- Simplifies and accelerates the loan process
- Saves you time and energy
- Provides realistic roadmap to structuring the transaction

What We Need:

Preferred needs the following basic information to issue a prequalification letter:
- Business federal tax returns and personal tax returns (for each owner of 20% or more of the company)
   for the last 3 years
- Most recent income statement and balance sheet or interim financial statements
- Schedule of business fixed debt (forms are available)
- Personal financial statement (for each owner of 20% or more of the company - forms are available)
- Total loan amount requested
- Projected use of loan proceeds
- Copy of purchase agreement, if purchasing real estate, business, machinery or equipment
- Copy of UFOC (Uniform Franchise Operating Circular) and franchise agreement, if purchasing a franchise
- Schedule of all debts, if restructuring debt