Business Loan Application for Freeport, IL Home Builders and Insurance Agencies

Having these on hand before a partner asks keeps its review moving. For a tavern, the core file is:

• Recent statements for every business bank account the deposits run through
• Federal business tax returns for the latest years filed
• This year's profit and loss figures and an up-to-date balance sheet
• A list of debts, equipment leases and any cash advances, with what each one costs a month
• The premises lease, showing how long it has left to run
• Photo ID for each owner
• Formation papers for the business entity
• A quote or invoice for anything the money will buy, such as a walk-in cooler or a new draft system

A home builder adds the job side: signed contracts, the draw schedule for each house and a list of work in progress. An insurance agency buying another agency's book adds the seller's commission statements and the draft purchase agreement.

To start, very little. The request form on this page asks for:

• The owner's full name, phone number and email
• The company name
• Time in business, picked from a range
• Annual revenue, picked from a range
• The amount wanted, picked from a range
• Consent to be contacted about the request

The form takes no files and has no box for the purpose. What the money is for comes up on the phone, and the records on the checklist come later, when a funding partner asks for them.

What a tavern does need before any offer is a clear answer about the money. A request for new coolers and a bar top from a named supplier, at a quoted price, gives a partner something to review; the words "working capital" on their own do not.

1. Decide what the money is for and get a quote or a figure for it
2. Phone (815) 550-0390, or complete the request form here
3. Talk through the purpose, the amount and the records already on hand
4. A funding partner reviews the request, asks for records and may check credit
5. Read any offer in full, compare it with others, and decide whether to accept

Nothing in the first three steps commits the tavern to anything. An owner can call, decide the timing is wrong and come back to it later.

The how it works page goes through the partner review in more detail, and the questions page covers credit checks and collateral.

A bank, a credit union and a funding partner each set their own requirements. A review can cover:

• Cash flow: whether deposits cover existing payments with room for the new one
• The credit history of the business and of each owner
• Time under the current ownership
• Existing debt, and anything already pledged as collateral
• What the money buys, and whether that purchase can secure the funding
• How long the premises lease has left to run

For a home builder the same review reads differently, because income arrives in draws as each house reaches a stage. Residential building construction (NAICS 2361) is a trade of small outfits in Stephenson County, IL: 21 of its 29 establishments with paid staff had fewer than five employees in 2023 (CBP). Building permits authorized 14 new privately owned housing units across the whole county in 2025 (Census Building Permits Survey). A partner reviewing one builder can look past county totals to that builder's own signed contracts and draw schedule.

An insurance agency is reviewed on its renewal income. Commission statements show how much of the book comes back each year, and a partner can weigh that when an agency sets out to buy another book. No review result is promised here; each partner decides on its own.