SBA Checklist

The Necessary Paperwork You Need to Hand in an SBA Loan Application: GPS trackers for kids

  • Copy of Purchase Contract
  • Copy of management resumes for each applicant owning 20% or more of business signed and dated-you can use the one in the SBA application
  • Copy of personal tax returns for 2000,1999,1998 signed and dated for each applicant owning 20% or more of the business
  • Personal financial statement, signed and dated, for each applicant owning 20% or more-you can use the one in the SBA application
  • Corporate tax returns of business for seller 2000,1999,1998 signed and dated.
  • Business plan including products and services, location,demographics, # of employees, customer base.
  • Copy of green card if applicable front and back.
  • Name address and phone # of banker,accountant and attorney.
  • Check for $1,000 or more, refundable if loan is declined.
  • Interim financial statement for sellers business up to the last quarter of the current year (9/30/2001).
  • Aging of receivables and payables if applicable.
  • Last 3 years of tax returns for any other business that the borrowers currently owns.
  • Copy of personal bank statements for the last two months showing cash to buy the business.
  • Seller to fill out 4506 IRS tax form (requesting 3 years of originals tax returns from the IRS.
  • Buyers gift letter if the down payment is coming from a relative.
  • Life insurance on buyer as requested by SBA - Mass Mutual – Robyn McGloin 561-279-2551
  • This information was provided by CIT Small Business Lending.

 

 

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