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Educate. Advise. Fund.

SBA Loan 
Checklist 

Prepare the following documents to expedite your 7(a) loan application process.

7(a) Loan Document Checklist

Business Documents

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1. Filed Tax Returns – Full unredacted business tax returns, for the three years preceding the date of the loan request (i.e. FY19, FY20, FY21). This will be the full Form 1040, including Schedule C or Schedule F (as applicable), Form 1065, Form 1120, or Form 1120-S depending on the business legal structure.

 

2. Bank Statements – Operating account statements for the three months preceding the date of the loan request.

 

3. Balance Sheet – Reporting date must be within 90 days of the loan request date. If you do not have a Balance Sheet, review our Balance Sheet Financial Template series to download a balance sheet template and watch an instructional video on how to create a balance sheet for your business.

 

4. Year-to-Date Profit & Loss Statement – P&L showing year-to-date totals through the reporting date. Reporting date must be within 90 days of the loan request date. If you do not have a Profit & Loss Statement, review our P&L Financial Template series to download a P&L template and watch an instructional video on how to create a P&L for your business.

 

5. Franchise Agreement or Fuel Supply Contract, if applicable

 

6. Filed Articles or Organization or Articles of Incorporation, if applicable

 

7. Operating Agreement, By-Laws, Partnership, or Trust Agreement, if applicable

 

8. Business Debt Schedule – Available to complete with the Smart Portal application

 

Affiliate Documents, if applicable

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9. Filed Tax Returns – Full unredacted business tax returns for the last three years preceding the date of the loan request (ie FY19, FY20, FY21). This will be the full Form 1040, including Schedule C or Schedule F (as applicable), Form 1065, Form 1120 or Form 1120-S depending on the business legal structure.

 

10. Balance Sheet Statement – Reporting date must be within 90 days of the loan request date. If you do not have a Balance Sheet, review our Financial Template series to download a Balance Sheet template and watch an instructional video on how to create a Balance Sheet Statement for your business.

 

11. Year-to-Date Profit & Loss Statement – Profit & Loss (“P&L”) showing year-to-date totals through the reporting date. Reporting date must be within 90 days of the loan request date. If you do not have a P&L Statement, review our Financial Template series to download a P&L template and watch an instructional video on how to create a P&L Statement for your business.

 

Individual Documents

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Provide the following documents for all 20% or greater equity owners of the business

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12. Filed Tax Returns – Full unredacted tax returns for the individual for the three years preceding the date of the loan request.

 

13. Personal Identification – Front and back image of valid and unexpired state driver’s license or state identification.

 

14. Personal Financial Statements – SBA required disclosure. Our Smart Portal will provide a template for completing at the final stage before application submission. Review our Personal Financial Statement resource to watch an instructional video on how to complete the Personal Financial Statement form.

 

15. If a 20% or more owner is not a US citizen, but is a lawful permanent resident, the following are required

  1. Form G-845

  2. Copy of Permanent Resident Card

  3. USCIS Verification & Authorization Letter

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