What documents are required to Apply for an SBA loan? 

Applying for an SBA loan, such as an SBA 7(a) loan, typically requires several documents to demonstrate the financial health and viability of the business. We will walk you through the specific requirements for your application. In general, we’ll need: 

Documents Related to the Business including: 

  • Business Plan: A comprehensive business plan outlining your business goals, operations, target market, financial projections, and how you plan to use the loan proceeds. 
  • Business Projected Financial Statements: A projection of your business’s financial performance, including income statements, balance sheets, and cash flow statements, for the next few years. 
  • Use of Loan Funds: A detailed explanation of how the loan funds will be used. 
  • Business Tax Returns: For the last four years. 
  • Business Debt Schedule: A schedule of all outstanding debts the business currently owes. 
  • Business Financial Statements: Including income statements, balance sheets, and cash flow statements for the past few years (if applicable) and current year-to-date financials. 

Personal Documents for all owners with >20% ownership  

  • Personal Tax Returns: Personal tax returns for the business owners for the last four years. 
  • Personal Resume  
  • Personal Financial Statement   
  • Last three months of bank statements showing cash equity, for all personal accounts