Loan Application Checklist
1
SBA Loan Application – To begin the process, you
will need to complete an SBA loan application form.
Personal Background and Financial Statement – To
assess your eligibility.
Business Financial Statements – To support your
application and demonstrate your ability to repay the loan,
prepare and include the following financial statements:
Profit and Loss (P&L) Statement – This must be
current within 90 days of your application. Also include
supplementary schedules from the last three fiscal
years.
Projected Financial Statements – Include a detailed,
one-year projection of income and finances and attach a
written explanation as to how you expect to achieve
this projection.
1. Ownership and Affiliations – Include a list of names
and addresses of any subsidiaries and affiliates,
including concerns in which you hold a controlling
interest and other concerns that may be affiliated by
stock ownership, franchise, proposed merger or
otherwise with you.
2. Business Certificate/License – Your original business
license or certificate of doing business.
If your
business is a corporation, stamp your corporate seal on
the SBA loan application form.
3. Loan Application History – Include records of any
loans you may have applied for in the past.
4. Income
Tax
Returns
–
Include
signed personal and business federal income tax
returns of your business’ principals for previous three
years.
5. Résumés – Include personal résumés for each
principal.
6. Business Overview and History – Provide a brief
history of the business and its challenges. Include an
explanation of why the SBA loan is needed and how it
will help the business.
7. Business Lease – Include a copy of your business
lease, or note from your landlord, giving terms of
proposed lease.
8. If You are Purchasing an Existing Business – The )