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Application Requirements

Certain criterias must be met to qualify for a business membership. Be prepared to give us financial statements and contracts so we can get a full picture of your financial needs. Your business service representatives will assist you in the application process.

General asset, line of credit or Business purchase

  • Last 3-years tax returns with attached schedules
  • Most current interim financial statement – balance sheet and income statement
  • Personal financial statement on owners of the business (form available)
  • Copy of depreciation schedule or fixed-asset listing
  • Accounts receivable aging/listing
  • Accounts payable aging/listing
  • 2-year projection of income and expenses (if available)
  • Copy of invoice for specific machinery/equipment financing (if applicable)
  • Copy of business evaluation or contract to purchase (if business purchase)

Commercial Real Estate Financing

  • Copy of Sales Agreement / Contract
  • Copy of signed leases currently in place. If vacant, lease terms expected.
  • Financial statements from proposed tenant (if available)
  • Personal financial statements from guarantors/owners (form available)
  • Completed EPA Questionnaire
  • Copy of any prior appraisal
  • Real estate tax and insurance figures
  • Copy of prints, specs and construction contract if new construction
  • Legal description
  • Survey (if applicable)

New Business Start-up

Business Plan including:

  • 2-years projection of income and expenses and balance sheet
  • List of sources and uses of proceeds – both loan and cash injection
  • Personal financial statement on all owners (form available)
  • Marketing plan
  • Product or service description including benefits
  • Resume’ of owners/key operators
  • Identification and description of competition
  • Copy of Franchise information (if applicable)
  • "I have found banking with INOVA FCU to be a hassle-free experience. Even though I am not in a town with a local branch, my on-line account allows me to handle most of my transactions without leaving home."

    -Brenda Fishers, IN
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