SBA Readiness Checklist
Get a personalized checklist of everything you need before approaching an SBA lender. Based on your specific situation.
What you need to apply for an SBA loan
An SBA 7(a) loan application requires business and personal tax returns (typically 3 years), a personal financial statement for each owner with 20% or more ownership, current profit and loss statements, a balance sheet, and a business debt schedule. Depending on your situation, you may also need a business plan, collateral documentation, and financial projections.
Why preparation matters
Incomplete applications are one of the top reasons SBA loan requests are delayed or denied. Lenders are more likely to approve — and approve quickly — when borrowers submit a well-organized package with all required documents. This checklist helps you identify exactly what you need before you walk into a lender's office.
Special requirements by loan purpose
The documents you need vary depending on how you plan to use the funds. Real estate purchases require a purchase agreement and environmental assessment. Business acquisitions need the target company's tax returns and a formal valuation. Equipment purchases require vendor quotes or invoices. Our checklist tool personalizes the list based on your specific situation.