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SBA Loan Application Checklist

CoastHills works within current SBA guidelines. To assure your application meets these guidelines, we’ve provided a checklist of the required documents needed to put together your loan package. Once your loan package is complete, we will submit it to the SBA.

  • SBA Loan Application. To begin the process, you will need to complete an SBA loan application. Download here
  • Personal Background and Financial Statement. To assess your eligibility, the SBA also requires you complete the following forms:  

    Statement of Personal History - SBA Form 912
    Personal Financial Statement - SBA Form 413  

  • Business Financial Statements. To support your application and demonstrate your ability to repay the loan, prepare and include the following financial statements:  

    • Profit and Loss (P&L) Statement—This must be current within 90 days of your application. Also include supplementary schedules from the last three fiscal years.
    • Projected Financial Statements—Include a detailed, one-year projection of income and finances and attach a written explanation as to how you expect to achieve this projection.
  • Ownership and Affiliations. Include a list of names and addresses of any subsidiaries and affiliates, including concerns in which you hold a controlling interest and other concerns that may be affiliated by stock ownership, franchise, proposed merger or otherwise with you.  
  • Business Certificate/License. Your original business license or certificate of doing business. If your business is a corporation, stamp your corporate seal on the SBA loan application form.  
  • Loan Application History. Include any loans you may have applied for in the past.  
  • Income Tax Returns. Include signed personal and business federal income tax returns of your business’ principals for previous three years.  
  • Résumés. Include personal résumés for each principal.  
  • Business Overview and History. – Provide a brief history of the business and its challenges. Include an explanation of why the SBA loan is needed and how it will help the business.  
  • Business Lease. Include a copy of your business lease, or note from your landlord, giving terms of proposed lease.  
  • If You are Purchasing an Existing Business.  The following information is needed for purchasing an existing business:

    - Current balance sheet and P&L statement of business to be purchased
    - Previous two years federal income tax returns of the business
    - Proposed Bill of Sale including Terms of Sale
    - Asking price with schedule of inventory, machinery and equipment, furniture and fixtures 

Contact a CoastHills Business Banking representative today


Business Resources

  • Watch the latest videos explaining SBA loans in detail. view
  • SBA 7(a) loan application checklist. Click here, to view.