Once you have decided to apply for an SBA loan, you will need to collect the appropriate documents for your application. Use the checklist below to ensure you have everything needed to complete your application
To begin the process complete these forms:
To support your application and demonstrate your ability to repay the loan, prepare and include the following financial statements:
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.
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.
Include records of any loans you may have applied for in the past.
Include signed personal and business federal income tax returns of your business’ principals for previous three years.
Include personal résumés for each principal.
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.
Include a copy of your business lease, if applicable.
The following information is needed for purchasing an existing business: