If you plan on applying for any type of SBA loan in the near future it is critical that you start to get the following information together ASAP.

  1. Three years of personal and business tax returns.  Personal tax returns are for any indiidual who owns 20% or more of the company.
  2. Try to get your 2019 tax returns done as soon as possible.  But if they are not close the lender is going to need your 2019 year end financials
  3. A personal financial statement for any owner who owns more than 20% of the company.  A link to download can be found here   https://www.sba.gov/document/sba-form-413-personal-financial-statement-7a504-loans-surety-bonds
  4. A debt schedule for your business.  A link can be found here https://www.sba.gov/sites/default/files/tools_sbf_sba202.pdf
  5. Go into your Quickbooks and figure out your monthly operating expenses from March through August of last year.  If this is not clear ask your bookkeeper or accountant for help.  This data will be an important part of your loan appication.