SBA 504 Loan Application Checklist
Please provide the information below:
- Business Tax Returns, including all schedules for prior three years
- Personal Tax Returns, including all schedules for prior three years
- Transcript Request Form
- Personal History Statement
- Personal Financial Statement
- Personal Budget Analysis (Excel document)
- Business Financial Statements, for fiscal year ending last three years.
- Business Debt Schedule (Excel document)
- Interim Financial Statement to include balance sheet and income statement dated within 60 days of application. (MUST be signed and dated.)
- Accounts Receivable and Accounts Payable Aging. (Same date as Interim Financial Statement.)
- Complete Business Plan, including one year of projections (Excel document) with assumptions. Mandatory for new business.
- Purchase Agreement with Addendum’s
- If this is a construction loan, please provide the following:
- Contractor’s written estimates of bids.
- Cost documentation for Equipment if applicable.
- UFOC and Franchise Agreement or Letter of Intent from Franchisor if applicable.
- Gift Letter, if you are using gift funds towards this project.
- Schedule of Previous Government Financing (pdf)
- Environmental Questionnaire
- Application Certification and Authorization (pdf)
- If you own affiliated companies, please provide all of the following:
- Description of Affiliates
- Percentage of Ownership in Affiliates
- Affiliate Business Tax Returns for prior three years.
- ◦Affiliate Business Debt Schedule (Excel document)
- Interim Financial Statement to include balance sheet and income statement dated within 60 days of application.
- If you are an existing SBA borrower, please provide the following:
- Copy of SBA Authorization and Loan Agreement
- If this is a business acquisition loan, please provide all of the following:
- Seller’s Business Tax Returns for prior three years
- Transcript Request Form (pdf)
- Interim Finance Statement to include balance sheet and income statement dated within 60 days of application.
- Copy of signed business purchase agreement. Include asset cost breakdown, all amendments, extensions, and total purchase price.
- If this is a refinance loan, please provide all of the following:
- Copy of notes of debt to be refinanced.
- Original Purchase Agreement. Including settlement sheet evidencing use of proceeds from original loan.
- Name and address of Lien holder(s) to paid off.
- If this is a hotel/motel loan, please provide the following:
- Breakdown of revenues and expenses on a month-by-month basis for the last 12 months.
- Occupancy percentage and average daily rate for the subject business property annually for the prior three years, year-to-date and monthly for the past 12 months.
- Occupancy percentage and average daily rate for the market area (Smith Travel Report, Chamber of Commerce).
- Hotel/Motel Projection Worksheet.