Required Information For a SBA 504 Loan
This SBA 504 Loan video outlines the information you’ll be required to submit to apply for SBA 504 financing. See the full transcript below the video. When and if the time comes where you’re ready to officially apply for a small business finance options through a SBA 504 loan, you’ll need to submit several items. The following is not an exhaustive list as banks and CDCs may differ in their requirements, but in general, you’ll need to provide: -Most recent interim financial statements -A/R and A/P aging reports for most recent interim -Prior 2-3 years of business tax returns -Prior 2-3 years of personal tax returns from any 20% or higher owner and anyone else the bank or CDC is requiring to personally guarantee the loan -Current, personal financial statements from all personal guarantors -Schedule of existing debt -Business Plan for start-ups, newer businesses, or when the bank and CDC will be relying on future, increased earnings to support the new debt -Construction cost schedule for new buildings -Detailed information on any machinery and equipment being purchased -Information on source of funds for borrower equity requirement
