Preparation separates fast approvals from weeks of back-and-forth. Use this checklist before applying for SBA, bank, or online business financing.
Business documentation
- Articles of incorporation or organization, operating agreement, bylaws
- EIN confirmation letter from the IRS
- Business licenses and registrations
- 12–24 months of business bank statements
- Profit and loss statements and balance sheets (YTD and prior 2 years)
- Business tax returns (2–3 years)
- Accounts receivable and payable aging reports if applicable
Owner documentation
- Personal tax returns (2–3 years)
- Personal financial statement
- Government-issued ID
- Resume or summary of industry experience
Loan-specific items
SBA 7(a): SBA Form 1919, business plan, use of proceeds detail, collateral description.
Equipment: Vendor quotes, equipment specifications.
Line of credit: Cash flow projections, explanation of seasonal needs.
Before you submit
Ensure your business credit report is accurate, reconcile bookkeeping discrepancies, and prepare a clear narrative for how funds will grow revenue or reduce costs. Lenders fund confidence as much as numbers.
Business Loan Consulting