What documents do you need for an SBA 7(a) loan?

The core list is in SOP 50 10 8.1, Appendix 20, Para. A.1 (p. 416). Lenders may ask for more, and requests vary by lender.

For every 7(a) loan

• SBA Form 1919, signed, one for each co-borrower.
• A personal financial statement for each owner of 20% or more and each proposed guarantor, except Supplemental Guarantors.
• IRS tax transcripts.
• Business financial statements or tax returns for the last 3 years.
• Interim financial statements, including for any affiliates.
• Year-end and interim balance sheets with a detailed debt schedule.

Start-ups and other applications based on projections need detailed projections with assumptions.

When they apply

• Your lease.
• Equipment quotes and a list of assets to be purchased.
• A list of all collateral.
• Franchise documents.
• Management agreements.
• Proof of status for any U.S. National.

Buying real estate

An appraisal, a signed purchase agreement, an environmental questionnaire if needed and a cost breakdown for improvements.

Buying a business

A separate Appendix 15 list applies, including a business valuation and the seller's financial statements.

Refinancing

Copies of notes and security agreements, plus 12 months of loan transcripts or other records showing the debt is current.

Smaller loans

7(a) Small and SBA Express files need the equipment, asset and collateralcollateralProperty a lender can take and sell if a loan is not repaid. lists only as far as necessary. The test is documenting the use of proceeds and supporting the credit analysis (Appendix 20, Para. B).