S B A
SBA LOAN CHECKLIST
This checklist has been provided to assist
you in gathering the necessary information for the initial
evaluation of your business loan request. Complete information
will be necessary to process your application.
- Loan Request Form
(pages 2-4)
- Personal Financial
Statement (enclosed pages 6-7) This form should be
completed by each partner of the corporation who owns 20%
or more of the corporation (including companies)
- Personal Income
and Expense Analysis (enclosed page 8) for each individual
referred to in item 3 above.
- Management Resume
(enclosed page 9) Complete Management resume form on all
active principals and key managers.
- Statement of Personal
History (enclosed page 10) for each person presenting
a Management Resume.
- Profit and Loss
Projection (enclosed page 12) by month – Attach
assumptions
- Notes Payable
Schedule (enclosed page 13) if no notes are due write
"None" then sign and date.
- Environmental
Questionnaire (enclosed pages 15-17)
- IRS Form 4506T-
Request for Transcript of Tax Return (enclosed page
18) Complete for each principal.
- Authorization
to Obtain and Release Information (enclosed page
20)
- Business Plan
- Include a description of management, feasibility
analysis, assumptions, site evaluation and demographics.
- Cash/Equity Injection
- Include the last 3 months of bank statements showing
sources of cash for each principal and the corporation.
- Copy of Certificate
of Good Standing, By Laws or
Articles of Incorporation if the business is a corporation.
- Copy of Proposes
Purchase Agreement or Executed Purchase Agreement
– Must include cost allocation of all assets being
purchased.
- Copies of Bids and Proposals for New Equipment,
Renovations, Leasehold
- Improvements,
or New Construction
If applicable, Copies of all Notes
or Loan Agreements to be refinanced
- Three Years' Personal
Tax Returns for each principal. Must include all
schedules.
- Copy of Existing
or Proposed Lease Agreement(s)
- Copy of unexpired,
government-issued form of photo ID
for all borrowers and guarantors.
The following will be required
prior to closing of Loan:
- Landlord Waiver
and Consent (for leased properties only)
- Assignment of
Life Insurance Policy as Collateral. Must be completed
and files with the home office of the insurance company.
Please
submit 2 copies of each item requested and "overnight"
them back to the Credit Department ASAP.
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