Articles of incorporation
What are articles of incorporation
Articles of Incorporation are a legal document that is filed with a state government in order to create a corporation. The articles typically include information such as the corporation's name, its registered agent, its purpose, the number of shares of stock it is authorized to issue, and the names and addresses of its incorporators. Once the articles are filed and accepted by the state, the corporation is considered to be legally formed and can begin conducting business.
Why is this important to a lender
Articles of Incorporation are important to a lender because they provide information about the corporation's legal status and structure. This information can help a lender assess the creditworthiness of the corporation, as well as the strength of its management team and the feasibility of its business plan. For example, the articles may indicate that the corporation is well-capitalized and has a strong board of directors, which could indicate that it has a better chance of repaying a loan. Additionally, the articles can provide information about the corporation's ownership structure and any potential legal liabilities, which could affect the lender's decision to approve a loan.
How to access this document
As a business owner, you can access your corporation's Articles of Incorporation by contacting the provinces/state government agency that handles business filings in the province/state where your corporation was incorporated. You can request a copy of the articles by mail, email, phone, or in-person, with some provinces/states having an online request form to download the document. Some also allow for searching for and viewing of the document in their website.
You may be asked to provide information such as the corporation's name and incorporation date, as well as proof of your identity or authority to request the documents. You may also be required to pay a fee to obtain a copy of the articles.