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.