# Do you need a business plan for an SBA loan?

**Short answer:** Only when applicable. 13 CFR 120.191 lists a business plan among application contents when applicable. SOP 50 10 8.1 does not list one among the general 7(a) documents. Start-ups need detailed projections, and some export loans need an export business plan.

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Last checked: 2026-11-09

Only in some cases. 13 CFR 120.191 lists a business plan among application contents when applicable. SOP 50 10 8.1, Appendix 20, does not list one among the general 7(a) documents.

## When the SOP asks for something like it

- **Start-ups and projection-based applications.** Detailed projections with supporting assumptions, showing at least 1.15:1 within 2 years of loan funding (Appendix 20, Para. A.1.d).
- **International Trade loans to expand exports.** The applicant must submit an export business plan, with a projection and narrative rationale (Sec. B, Ch. 5, Para. C.1.a, about p. 193).
- **Export Working Capital loans.** The lender's analysis discusses the applicant's export experience and export business plan (Sec. B, Ch. 5, Para. B.5).

## What projections must explain

The lender must support the assumptions behind projected cash flow. That includes any revenue growth, any cut in expenses, and a comparison to current industry trends (Sec. B, Ch. 1, Para. C.2.a).

## Lenders may still ask

Credit memos cover the business's history, management and competition. A lender may ask for a plan to support that analysis, and requests vary by lender.

## Who can help prepare one

A packager or lender may charge for preparing a business plan, within SBA's packaging fee limits (Sec. A, Ch. 4, Paras. C.2.a and D.7). You are not required to buy that service.

## Sources

- [13 CFR § 120.191](https://www.ecfr.gov/current/title-13/section-120.191)
- [SOP 50 10 8.1, Appendix 20, Para. A.1.d (about p. 417)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [SOP 50 10 8.1, Sec. B, Ch. 1, Para. C.2.a (about pp. 119-120)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [SOP 50 10 8.1, Sec. B, Ch. 5, Para. B.5, credit analysis (about p. 180)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [SOP 50 10 8.1, Sec. B, Ch. 5, Para. C.1.a (p. 193)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [SOP 50 10 8.1, Sec. A, Ch. 4, Paras. C.2.a and D.7 (about pp. 67, 76)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)