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Small Business Administration
Loan Information Form
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The following worksheets are a brief outline of the important
information that will be requested when you begin to complete a SBA Loan
Application. If you wish, you may use this sheet as a guide and a worksheet to
help gather the information needed. This information will also be discussed
when we meet to discuss your specific needs. If you have any questions on these
items or are ready to review the full application, please feel free to call us at
(877) 508-2274.
Introduction:
The following are the primary categories that we try to fully
understand from the information that will be provided during the application
process for an SBA Loan. Please read through these categories and be sure that
these areas are thoroughly addressed in your business plan or in the
application.
Management Quality and
Experience - Experience of the borrowers is one of the most
important ingredients of a successful business. Please make sure that in your
information, you highlight the experience and skill required to successfully
manage your business. This information is best described and highlighted in the
following pages of the SBA Loan Application:
Cash Flow - Cash
Flow is an important subject to determine right from the beginning. Cash flow
calculations help to determine the ability to pay expenses, debt service, and
derive profits. Cash flow is determined from the following sources of
information:
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·
Projected Income Statements (2 years)
·
Assumptions to Projections
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Historic Income Statements (3 years)
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· 3
Years Tax Returns (Pers. & Bus.)
· Historic
Balance Sheets (3 years)
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Collateral - SBA
Loans should be fully collateralized. This is best described and highlighted
from the following sources of information:
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·
Personal Financial Statement
·
Estimated Project Costs
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· Business
Financial Statements
· Business
Plan, required for all start ups
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Capital -This
represents your investment in your business as it applies to this loan. SBA
Loans require cash investment from the borrowers ranging from 10% to 30% on the
purchase of business assets depending on the type and structure of the project.
This is best described and highlighted from the following sources of
information:
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·
Personal Financial Statement
·
Estimated Project Costs
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Capital Injection Worksheet
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· Business
Financial Statements
· Business
Plan, required for all start ups
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Business/Market Conditions
- Take time to communicate the market position of your business and business
conditions. This is best
described and highlighted from the following sources of information:
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History of Business
·
Marketing Plan
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· Business
Plan, required for all start ups
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SBA Loan Application Checklist
(Complete
list of items needed for your SBA loan package)
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Quick
Pre-Qualification Checklist
of Forms and Information
The following is a list of items needed to provide a quick
pre-qualification of your request.
1. Forms Included In
Application Package
___Loan Request Form
___Personal
Financial Statement
___Statement of Personal History complete and sign
___Authorization to Release Information –
___Business Debt Schedule
___Management Resume for all principle owners
___Personal Family Budget
___History Of Business
2. Additional items
to provide for pre-qualification
___Business Financial Statements-
___Income Statements & Balance Sheets (3 years)
___Interim Business Income Statement and Balance Sheet.
(45 days or newer)
___Cash Flow Projections – 2 Year Pro-Forma (Projections)
___Assumptions to Projections
___Business Tax Returns - Business Tax Returns (3 years)
___Personal Tax Returns - & W-2’s (3 years)
___List of Equipment to be purchased
___Construction Costs if applicable
___Business Plan, required for all start ups
Please email/fax/mail the above application to us for
review.
Diamond
Financial Services
262
Highway 36
West Keansburg, NJ
07734
732-495-7058
(fax)
Donj@easysba.com
A representative from our company will contact you by
phone/email with any additional questions that we may have.
We will then complete your package and mail to you for
original signatures. At that time you
will be requested to return all additional information needed on the check list
to complete your loan package.
Note: This list includes the majority of items needed for a
complete SBA Loan Application. There are usually, however, additional items
that become necessary during the approval process. Feel free to ask questions
about any of these items listed.
Additional Items Needed to Complete the Loan File
The following is a list of additional items needed
to complete the full SBA Loan Request File.
1. SBA
Application Package
___Insurance Information
___Request for Copy of Transcript Tax Form
2. Business
Financial Information
___Aging of Receivables/Payables
___Financials on Affiliate Businesses
3. Personal
Financial Information
___Personal Tax Returns- & W-2’s (3 years)
___Personal Financial Statements – from all owners (45
days or
newer)
___Copy of Mortgage Statements on all property
___Proof of Cash Injection required by borrower
4. Use
of Funds Information
___Specific Breakdown of the Use of Funds
5. Other
Items
___Articles of Organization
___Operating Agreement
___Partnership Agreement
___Fictitious Business Name Statement (or equivalent)
___Business License
___Articles of Incorporation & Bylaws
___Trust Agreements if applicable
___Escrow Instructions
___Leases or Proposed Lease
___Driver’s License for all owners/borrowers
___Green Card if applicable
___Environmental Questionnaire if applicable
___Employer Tax ID Number
___Corporate Stock Certificates
___Certificate of Secretary
___Certificate of Member or Partner
___Landlord’s Consent on leased property
___Assignment of Lease from Landlord
___Franchise Agreements
___Builder Information
___Plans and Drawings
___Estimates and Bids
___Permits if available
6. Items gathered by Lender
___Dun & Bradstreet Business Report
___UCC Search
___Credit Report on all owners
___Preliminary Title Report
___Flood Zone Report
___Environmental Phase I if applicable
___Appraisals if applicable
___Site visit analysis
7. Other Items needed
