When applying for an SBA loan, we will represent you and help you fill out the required forms & documents for the specific loan you’re trying to get. The SBA also encourages borrowers to gather some basic information that all lenders will ask for, regardless of the loan type.
The following items are usually required to apply for an SBA loan:
- Personal background and financial statements
- Business financial statements
- Profit-and-loss statement (three years)
- Current within the last six months
- List of debts
- Projected financial statements
- Business certificate/license
- Income tax returns
- Résumés for key team members
- Business overview and history
- Business lease
The SBA also advises small businesses applying for a loan to be prepared to answer several questions:
- Why are you applying for this loan?
- How will the loan proceeds be used?
- What assets need to be purchased, and who are your suppliers?
- What other business debt do you have, and who are your creditors?
- Who are the members of your management team?