SBA Requirements

Personal Credit over 650 is required for SBA Loans

Businesses being acquired must be cash flowing over 15% over and above what your payment tothe SBA will be.

The details of your SBA loan application will vary slightly based on your lender and loan type. In general, however, you’ll need to provide the following documentation:SBA-specific forms

SBA Form 1919, Borrower Information Form.

SBA Form 912, Statement of Personal History.

SBA Form 413, Personal Financial Statement.

SBA Form 148, Unconditional Guarantee (or the lender’s equivalent). The SBA requires that anyone with 20% or more ownership in the business provide an unlimited personal guarantee. Owners with less than 20% ownership may provide a full or limited guarantee (SBA Form 148L)[1]

Financial Statements

Current income statement and balance sheet.

Cash flow projections.

Income statements and balance sheets from the previous threeyears.

Three years of business tax returns (or all tax returns to date).

Three years of personal tax returns.

Existing debt schedule, if applicable.

Detailed listing of all collateral.

Supporting Documents

Business certificates or licenses.

Loan application history.

Resumes for each business owner.

Business overview and history.

Business lease.

If you’re using your SBA loan to buy a business, finance a franchise or purchase real estate, you may be required to provide additional documentation