Documents Required

Preliminary Application

Simply answer a few questions on our portal, and based one satisfactory answers, we will be able to provide a Preliminary Approval.

The Questions:

Business name?
How long in business?
Number of employees?
Total project cost?
Anticipated loan amount? (Maximum loan amount is 90% of total project cost)
Existing business - was the business profitable last two years? Later, we will need 3 years financials.
(Profit/Loss Statement and Balance Sheet for current year-to-date plus last two full years, as well as last
3 years business tax returns)
New business – We will need 3 years financial projections and brief business plan description
What are the borrower’s assets including cash, personal residence, stocks, 401k, business assets etc?
SBA loans require between 10-15% down payment. SBA likes to see post-closing liquidity for the
borrower. Does the borrower have 15-20% of the loan amount in liquid assets (cash or equivalent), so
that Borrower can satisfy required 10% down payment, plus post-closing cash cushion. Is part of down payment coming from seller or outside party?
Is credit score above 680?
Are you buying or leasing a property?
Has the borrower filed for bankruptcy in last 7 years? If so, was it discharged?
How many partners own 20% or more of company
Has the borrower had an SBA loan before? Was it satisfied and/or is it current? What is its balance?

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Requirements for Full Application:

SBA application document (SBANav provides for Borrower's completion.)
Last 3 years personal tax returns for any borrower owing more than 20% of borrower entity
Last 3 years corporate tax returns (existing businesses only)
Current YTD and previous 2 years Business Financials (Profit/Loss Statement and Balance Sheet)
Personal Financial Statement for any borrower owning more than 20% of borrower entity
Brief business plan narrative
Proof of funds for down payment
Company organizational documents
Real estate purchase contract or lease (or letter of intent) Business name?