Your Acquisition Material Checklist: What It Is and Why It Matters

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So, you’ve just gone under a Letter of Intent (LOI)—congrats! That’s a big step toward acquiring a business. But then we hit you with a laundry list of documents to provide, and you might be thinking, “Whoa, what’s all this for?” Don’t worry—we’re not trying to drown you in paperwork for fun. This is our acquisition material checklist, and it’s the backbone of moving your deal from “maybe” to “done.” Let’s break it down, piece by piece, so you know exactly why we need it and how it helps you seal the deal.

Personal Documents: Building on What You’ve Already Shared

We start with some personal financial details to prove you’ve got the firepower for this acquisition. If we pre-qualified you before the LOI, you’ve likely already knocked out a couple of these. Here’s the rundown:

  • ID (preferably a back-to-back photo of your Driver’s License): We need this to confirm your identity. It’s a must for any big-money deal.
  • 3-Bureau Personal Credit Report (Experian, Equifax, TransUnion): If you’re pre-qualified, you’ve probably sent this already from Experian.com (no third-party reports, please!). It shows lenders how you manage credit and debt.
  • Personal Financial Statement: You might’ve used our template here and submitted this during pre-qualification. It’s all about your liquidity—cash and assets we can verify.
  • 6 Months of Bank Statements: If you’ve got multiple accounts, include the significant ones. We’re checking your cash flow to keep everything on track.
  • Tax Returns (Last 3 Years): These give us the hard numbers to back up your financial story.

If you’re pre-qualified, the PFS and Credit Report are probably already in our hands—nice work! The rest just fills in the gaps to keep the ball rolling.sume. It’s how we (and the banks) know you’re ready to take on this acquisition.

Target Business Documents: Digging Into the Details

Next, we need a deep dive into the business you’re eyeing. This is where we separate the dream from the reality and make sure it’s a solid investment. Here’s the rundown:

  • Financial Statements (Last 3 Years + YTD 2025): We’re talking Income Statements and Balance Sheets. For 2022, 2023, and 2024, we just need yearly totals in PDF—no monthly breakdowns. For 2025, send us year-to-date (YTD) totals, plus a Trailing Twelve Months (TTM) snapshot. Add in a Balance Sheet from the end of last month. These show us the business’s profitability and health over time.
  • Bank Statements (Last 6 Months): Include all significant accounts. This is about cash flow—does the business have the money moving to keep things humming?
  • Articles of Incorporation/Organization & Certificate of Good Standing: These prove the business is legit and in good legal standing. No surprises allowed.
  • Business Age: How long has it been around? Stability matters.
  • Tax Returns (Last 3 Years): Just like your personal ones, these confirm the business’s financial claims.
  • Business Debt Schedule: Use our template here if you’d like. We need to see what the business owes—current and clear.
  • Accounts Receivable & Payable Summaries (as of Dec 31, 2024): Who owes the business, and who does it owe? This is about cash flow and risk.
  • W-2s for Employees (Last 3 Years): This confirms payroll and staffing costs—big pieces of the expense puzzle.
  • Deal Brief/CIM/Business Summary & LOI: These give us the narrative—why this business, why now, and what’s the plan?

This pile of docs is like a treasure map. It helps us (and our lending partners) see the business’s past, present, and potential future.

Why All This Matters

We know this list looks long, but every item has a purpose. Your personal docs show you’ve got the financial chops to pull this off. The business docs prove the target is worth buying and can hold its own. Together, they’re the ammo we use to fight for your deal with banks, capital groups, or whoever’s footing the bill. Without them, we’re flying blind—and that’s not how we roll.

Tips to Make This Easy

  • Start Early: Don’t wait until the last minute. Gathering tax returns or tracking down old statements can take time.
  • Use Our Templates: They’re there to save you a headache—grab them for the Personal Financial Statement and Business Debt Schedule.
  • Double-Check the Credit Report Source: Experian.com only, please. It keeps things consistent and reliable.
  • Upload Securely: You’ll send these to a private data room on our Google Drive server. It’s secure, locked down, and built to keep your info safe.

We’ve Got Your Back

This checklist might feel overwhelming, but it’s a sign we’re in the thick of it together. Every document you send brings us closer to closing the deal. Got questions about any of these items? Hit us up—we’re here to walk you through it. Let’s make this acquisition happen!