What to bring for your application

These are the documents a lender asks for on a Canada Small Business Financing Program (CSBFP) loan. Start gathering them now. You don't need everything before we talk, and we prepare the business plan and the financial forecast ourselves.

Every application

• Articles of incorporation for your company
• Your lease, or a letter of intent to lease. The loan can't run longer than the lease. A letter of intent can support a conditional approval, but lenders usually want the signed lease before funding.
• Quotes for the build and the equipment, with the supplier's GST/HST number on each
• A signed personal net worth statement from each shareholder
• Personal tax returns (T1) and notices of assessment for the last two years, from each shareholder
• Recent RRSP, TFSA and investment account statements
• Opening a franchise? Your franchise agreement, and the franchisor's letter confirming your rights to the location

Buying an existing restaurant? Also bring

• An appraisal from a certified (AACI) appraiser. The value has to come in above the price.
• Two years of the seller's year-end financial statements, prepared by an accountant
• Two years of the seller's corporate tax returns (T2) and notices of assessment
• Your lawyer's review of the lease transfer, confirming the years left and checking for a demolition clause
• The signed purchase agreement

Sometimes needed

• A credit report dated this month. It is a soft check, and most online banking lets you pull one for free.
• More than one shareholder? Each one provides a net worth statement and two years of tax returns.

What we prepare for you

• The business plan
• The three-year financial forecast
• The budget, built from your quotes

See if you pre-qualifyQuestions? Email Adam at hello@restaurantfinancingcanada.ca