Check list for bank loan List of Required Papers in case of making loans : Lack of preparation of the required documents and sufficient idea regarding the necessary precautions in getting bank loans are observed among many SME entrepreneurs. For providing loans the required documents which are collected from applicants by bank and non-bank financial institutions have been presented in a checklist by SME Foundation in order to facilitate the entrepreneurs. Note that in this case, lending decision is entirely taken by the concerned authorities of the banks and non-bank financial institutions on its own policy. Checklist prepared by SME Foundation will be helpful for the entrepreneurs interested in taking bank loans. Any advice in that regard can be taken from the nearest branch of a bank. Besides of this, SME Foundation’s Business Support Services Center (5th Floor, Royal Tower, panthapatha, Karwan Bazar, Dhaka) may be contacted.

Essential Papers:

1. Update license.
2. Current bank account in the name of the business organization.
3. National identity card / passport photocopy.
4. Minimum of 6 months to 3 years, the bank reports (different needs of different banks).
5. Shop / house rental agreement/ location document.

Other papers (depending on type and size of business):

1. Taxpayer identification certificate (TIN)
2. List of active stock and its current value.
3. List and value of fixed assets.
4. The total amount of debt and over-statement
5. Details of official statements of debt (if any)
6. Value Added Tax (VAT) certificate (if applicable).
7. Paid business electricity bills.
8. Paid business telephone bills.
9. Employee name, last name and a list of monthly wages (payroll).
10. Bangladesh Bank IOI report. Here, to note that the form of this report is provided by corresponding financial institutions to entrepreneurs and when entrepreneurs fill up the forms, these financial institutions complete the formalities to collect reports from the Bangladesh Bank.

Mentioned papers are broadly required to all banks and non-bank financial institutions to receive credit. Also, banks and non-bank financial institutions collect other required documents and information from the applicant, if necessary.