What we’ll require to process your application
To assist us in processing your application, MyState Bank will ask for the following initial documents:
- A completed loan application form;
- Accountant prepared financial statements and tax returns for you and your business that are no more than 18 months old and cover a period of 24 continuous months;
- ATO assessment notices that are no more than 18 months old and covering a period of 12 continuous months for you and your business;
- Bank statements cover the last 6 months for all business accounts and loans held by you and your business;
- A copy of any property lease that you or your business receive income from;
- A copy of the lease for any property you or your business lease; and
- If the borrower or guarantor is a trust, then a copy of the trust deed and any amendments (if applicable) will be required.
The above is an indicative list that may vary based on your particular business and application.
Once MyState Bank has received all required and requested information, a decision is normally made within 10 business days.
If MyState Bank declines your application, you will be told the general reasons as to why.