What are the documents required for application? – IRC-CEO Help Center

Please review this chart for the documents required for the loan applications.

In addition to the documents above, applicants should have an email address, phone number, and U.S. bank account information.

For auto (purchase or refinance) loans, applying with a learner's permit or no driver's license is acceptable. However, we can only finalize the loan closing and funding once we confirm the borrower has a valid driver's license.

For all approved auto loans, borrowers must have a valid driver's license (U.S. issued or foreign issued) and secure and maintain comprehensive + collision, uninsured motorist coverage with policy limits of at least 75% of the car's resale value.

For business loans, there are additional items required:

Requirements	Up to $5k	$5k-$20k	Over $20k
e-mail address	Yes	Yes	Yes
Valid government-issued photo ID	Yes	Yes	Yes
U.S. bank account with routing and account number	Yes	Yes	Yes
Complete bank statements (personal & business) (*)	2 months	2 months	6-12 months
Pay stubs or other verifiable business income statements	2 months	2 months	6-12 months
Business license, Articles of Incorporation, EIN, Permits if available	Yes	Yes	Yes
Most recent tax return (personal and business)	Yes	Yes	Yes
Profit & Loss Statement (*)	Monthly	Monthly	Annual
Supporting Docs for verification of financial situation, such as QuickBooks, Square Sales & Expense Reports, Invoices, Receipts, Purchase Orders, Sales Contracts, etc. (*)	Optional	Yes	Yes
Business plan	n/a	Optional	Yes
Business Cash Flow Projection (12 months)	n/a	Optional	Yes
Credit Memo	n/a	Optional	Yes
Collateral (**)	Optional	Optional	Required
Social media account, marketing materials, photos, etc.	Optional	Optional	Optional
Internal Loan Committee Review	Yes	Yes	Yes
External Loan Committee Review	n/a	n/a	Yes
() To be eligible for a Positive Cash Flow Discount for loans over $5k, at least 6 months of supporting documents for revenue and expenses are required. (*) Collateral requirements for loans Under $10k: Flexible Between $10k - $20k: case by case, it might be required depending on the strength of the application, especially for a start-up business. Over $20k: Required with a minimum value of 50% of the application amount.

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