What documents does a bank usually require when providing financing?

The documents requested vary depending on the nature and size of the financing, the guarantees provided, the policies of the financial institution and the situation of the company.

Before granting a loan, line of credit or other financing, the bank may want to verify the legal existence of the company, the powers of the people acting on its behalf and its financial situation.

Depending on the circumstances, it may, in particular, request:

• the articles of incorporation and their amendments, as well as the regulations;
• certain information concerning the directors and officers;
• documents to confirm the persons authorized to sign on behalf of the company;
• the resolutions authorising the loan and the signing of financing documents;
• resolutions authorizing guarantees granted by the company, where applicable;
• financial statements and other relevant financial information;
• tax returns or certain tax information;
• contracts or other documents relevant to the financing analysis;
• any other document required depending on the nature of the transaction.

The bank does not necessarily request to receive the entire minutes book. Depending on the case, it may instead be reviewed by the notary or lawyer handling the financing to verify the company's corporate status and prepare the documents necessary for the transaction.

In some financing arrangements, the financial institution may also require a legal or corporate opinion relating in particular to the existence of the company, its powers, the necessary authorizations and the validity of certain documents related to the financing.

If the corporate documentation is incomplete or does not reflect the current situation of the company, certain regularizations may need to be made before the signing or disbursement of financing.

In summary , the documents required by a bank vary depending on the financing. It may request certain corporate, financial, and tax documents, as well as the resolutions necessary for the transaction. In some cases, the minutes book will instead be reviewed by the professional responsible for providing the verifications or opinion required by the financial institution.