Quick Pre-Qualification Checklist
of Forms and Information

Additional Items Needed to Complete the Loan File

Quick Pre-Qualification Checklist of Forms and Information

Additional Items Needed to Complete the Loan File

Quick Pre-Qualification Checklist
of Forms and Information

Introduction:

Introduction:

Are you presently under indictment, on parole or on probation?

Small Business Administration
Loan Information Form

The following worksheets are a brief outline of the important information that will be requested when you begin to complete a SBA Loan Application. If you wish, you may use this sheet as a guide and a worksheet to help gather the information needed. This information will also be discussed when we meet to discuss your specific needs. If you have any questions on these items or are ready to review the full application, please feel free to call us at (877) 508-2274.

The following are the primary categories that we try to fully understand from the information that will be provided during the application process for an SBA Loan. Please read through these categories and be sure that these areas are thoroughly addressed in your business plan or in the application.

Management Quality and Experience - Experience of the borrowers is one of the most important ingredients of a successful business. Please make sure that in your information, you highlight the experience and skill required to successfully manage your business. This information is best described and highlighted in the following pages of the SBA Loan Application:

· Management Resume

Cash Flow - Cash Flow is an important subject to determine right from the beginning. Cash flow calculations help to determine the ability to pay expenses, debt service, and derive profits. Cash flow is determined from the following sources of information:

· Projected Income Statements (2 years)

· Assumptions to Projections

· Historic Income Statements (3 years)

· 3 Years Tax Returns (Pers. & Bus.)

· Historic Balance Sheets (3 years)

Collateral - SBA Loans should be fully collateralized. This is best described and highlighted from the following sources of information:

· Personal Financial Statement

· Estimated Project Costs

· Business Financial Statements

· Business Plan, required for all start ups

Capital -This represents your investment in your business as it applies to this loan. SBA Loans require cash investment from the borrowers ranging from 10% to 30% on the purchase of business assets depending on the type and structure of the project. This is best described and highlighted from the following sources of information:

· Personal Financial Statement

· Estimated Project Costs

· Capital Injection Worksheet

· Business Financial Statements

· Business Plan, required for all start ups

Business/Market Conditions - Take time to communicate the market position of your business and business conditions. This is best described and highlighted from the following sources of information:

· History of Business

· Marketing Plan

· Business Plan, required for all start ups

SBA Loan Application Checklist

(Complete list of items needed for your SBA loan package)

The following is a list of items needed to provide a quick pre-qualification of your request.

1. Forms Included In Application Package

___Loan Request Form

___Personal Financial Statement

___Statement of Personal History complete and sign

___Authorization to Release Information –

___Business Debt Schedule

___Management Resume for all principle owners

___Personal Family Budget

___History Of Business

2. Additional items to provide for pre-qualification

___Business Financial Statements-

___Income Statements & Balance Sheets (3 years)

___Interim Business Income Statement and Balance Sheet.

(45 days or newer)

___Cash Flow Projections – 2 Year Pro-Forma (Projections)

___Assumptions to Projections

___Business Tax Returns - Business Tax Returns (3 years)

___Personal Tax Returns - & W-2’s (3 years)

___List of Equipment to be purchased

___Construction Costs if applicable

___Business Plan, required for all start ups

Please email/fax/mail the above application to us for review.

Diamond Financial Services

262 Highway 36

West Keansburg, NJ 07734

732-495-7058 (fax)

Donj@easysba.com

A representative from our company will contact you by phone/email with any additional questions that we may have.

We will then complete your package and mail to you for original signatures. At that time you will be requested to return all additional information needed on the check list to complete your loan package.

Note: This list includes the majority of items needed for a complete SBA Loan Application. There are usually, however, additional items that become necessary during the approval process. Feel free to ask questions about any of these items listed.

The following is a list of additional items needed to complete the full SBA Loan Request File.

1. SBA Application Package

___Insurance Information

___Request for Copy of Transcript Tax Form

2. Business Financial Information

___Aging of Receivables/Payables

___Financials on Affiliate Businesses

3. Personal Financial Information

___Personal Tax Returns- & W-2’s (3 years)

___Personal Financial Statements – from all owners (45 days or

newer)

___Copy of Mortgage Statements on all property

___Proof of Cash Injection required by borrower

4. Use of Funds Information

___Specific Breakdown of the Use of Funds

5. Other Items

___Articles of Organization

___Operating Agreement

___Partnership Agreement

___Fictitious Business Name Statement (or equivalent)

___Business License

___Articles of Incorporation & Bylaws

___Trust Agreements if applicable

___Escrow Instructions

___Leases or Proposed Lease

___Driver’s License for all owners/borrowers

___Green Card if applicable

___Environmental Questionnaire if applicable

___Employer Tax ID Number

___Corporate Stock Certificates

___Certificate of Secretary

___Certificate of Member or Partner

___Landlord’s Consent on leased property

___Assignment of Lease from Landlord

___Franchise Agreements

___Builder Information

___Plans and Drawings

___Estimates and Bids

___Permits if available

6. Items gathered by Lender

___Dun & Bradstreet Business Report

___UCC Search

___Credit Report on all owners

___Preliminary Title Report

___Flood Zone Report

___Environmental Phase I if applicable

___Appraisals if applicable

___Site visit analysis

7. Other Items needed

Small Business Administration
Loan Application Form

Borrower Name:	Current Address:
Trade Name:
Type of Business:	Future Address:
Business Phone:
Fax Number:	Rent or Own:		Rent Own
		Contact Person:
		Contact Phone:

Are you presently under indictment, on parole or on probation?	Yes No
If yes, please explain:
Have you ever been charged with, arrested, and/or convicted of any criminal offense other than a minor motor vehicle violation?		Yes No
If yes, please explain in detail, sign and attach to the “Statement of Personal History” form in application!

Borrowing Entity: Corporation:	Partnership		Limited Partnership
Sole Proprietorship	LLC		Other
Number of existing employees		# of employees after this loan

Estimated Project Costs

Costs/Uses of Funds - Please outline the use of funds in the space below. Be as specific as possible.

	TOTAL COSTS	COMMENTS
Land and Building (total costs)	$
New construction	$
Leasehold improvements	$
Machinery & equipment	$
Debt repayment	$
Inventory	$
Working capital	$
Fees	$

Amount of Loan Requested

Term: # of Years (requested):

(See Estimated Project Costs Below for Requested Loan Amount)

Applicant Company Information