# How old can financial statements be on an SBA application?

**Short answer:** Interim financial statements must be dated within 120 days of submission to SBA. Appendix 20 of SOP 50 10 8.1 also asks for year-end statements for the last 3 years. Personal financial statements follow a shorter 90-day standard.

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Last checked: 2026-11-09

Interim financial statements must be dated within 120 days of submission to SBA (SOP 50 10 8.1, Appendix 20, Para. A.1.c-d, about pp. 416-417).

## What the 7(a) application needs

- Year-end balance sheets and profit and loss statements for the last 3 years.
- An interim balance sheet and interim profit and loss statement.

These cover the applicant and any affiliates.

## Buying a business

The seller's year-end statements must be dated and signed or certified within 120 days prior to submission. Its interim statements can be no older than 120 days from submission (Para. A.1.k).

## 7(a) Small loans

Coverage can rest on a year-end statement dated and received within 120 days of year end. It can also use a year-end statement plus an interim dated within 120 days of submission (Sec. B, Ch. 2, Para. C.2.a).

For a seasonal business, the lender should compare the interim to the same period a year earlier (Information Notice 5000-877673, question 11).

## 504 loans

A balance sheet and income statement must be dated within 120 days before submission to SBA (Sec. C, Ch. 1, Para. F.2.a.xv). Later, the Certified Development Company (CDC)'s opinion on adverse change must rest on statements no older than 120 days from the debenture cut-off date (Sec. C, Ch. 2, Para. C.5).

## SBA Express

Financial documents must comply with the lender's own policies (Appendix 20, Para. B.3).

Lenders may require fresher statements, and practices vary by lender.

## Sources

- [SOP 50 10 8.1, Appendix 20, Paras. A.1.c, A.1.d and A.1.k (about pp. 416-418)](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. 2, Para. C.2.a (about p. 129)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [SBA Information Notice 5000-877673, question 11 (March 31, 2026)](https://legacy.sba.gov/document/information-notice-5000-877673-guidance-frequently-asked-questions-related-recent-sba-procedural-notices)
- [SOP 50 10 8.1, Sec. C, Ch. 1, Para. F.2.a.xv (about p. 260)](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. C, Ch. 2, Para. C.5 (about p. 277)](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, Appendix 20, Para. B.3 (Para. B begins p. 419)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)