Definition of Proof of Ownership. What is Proof of Ownership of the Business?
What can a business owner show as a proof of business ownership document? How to prove you are a business owner.
Examples of Proof of Ownership of the Business.
A business owner applies for a business loan and is approved.
One of the closing requirements is for the Owner to provide Documentation of Ownership of the Business. The Business Owner does have a few options in providing Evidence of Ownership of the Business. They can also provide:
– Current Business License.
– Articles of Incorporation or a Partnership agreement.
– K-1 of the most recent Business Tax Return.
– The most recent Full Business Tax Return.
If you cannot provide the types of documentation of Ownership required for your business loan, contact us below at SmallBusinessLoansDepot.com for several funding options such as bank statement loans that make the process of proof of ownership much easier.
You don’t have any proof of business ownership and don’t know what to do?
Sometimes Business Owners cannot prove ownership of a business that is required to close a business loan.
How to prove business ownership in other ways? What is the lender is asking for? There are other options in addition to the ones listed above.
If you cannot prove ownership now, review fixes below:
How you can fix the problem of cannot prove business ownership.
- Get an updated business license. Your city or county can reprint or resend a copy of your business license.
- Update your articles of incorporation. Contact the secretary of state and request the articles or update the articles to show your ownership.
Evidence of Ownership is often required. The person applying in the name of the Company needs to prove they are the Owner. This prevents other people from getting Loans in the Company name that are not authorized to do so. It also can help break down the Ownership percentage if there is another Owner.
The following are frequent requests and statements:
– What do I need for Proof of Ownership. I don’t have it and also cannot provide it. What can I do? There may be alternatives that are accepted for proof of ownership.