DS is correct. However, depending on whether the individuals that own the business are known to the bank and the type of business they have will dictate the amount of due diligence a bank should perform on that specific business. Along with the standard set of corporate documents, some banks run the owners through the standard CIP process. Additionally, banks gather information concerning the business regarding: what it does, how much of it it does, expected banking activities, etc. Based on those answers, the bank may even ask for more information - income statements, balance sheets, etc. It is usually a tiered approach based on perceived risks.
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