Typically, the following documents are needed to review a loan request:
- a brief description of the business and how the loan proceeds will be used
- 3 years tax returns (personal and corporate)
- a personal financial statement for all owners
- business financial statements for the past 2 years as well as a current year to date statement (within 90 days)
- schedule of outstanding debt
- details of any owner’s equity investment in the business
- projections for future operations
SBAC will help you through the paper work and placement. We can make it easy.