7(a) Loan Application Checklist

7(a) Loan Application Checklist

Once you have decided to apply for an SBA loan, you will need to collect the appropriate documents for your application. Use the checklist below to ensure you have everything needed to complete your application

SBA Loan Application

To begin the process complete these forms:

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 year end financials.
  • 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 records of 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.


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, if applicable.

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 three 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

Tarzana Branch

19538 Ventura Blvd.

Tarzana, CA 91356

(818) 992-5661

Fax: (818) 992-5669

Jim Friend, V.P.


Monterey Park Branch

2323 S. Atlantic Blvd.

Monterey Park, CA 91754

(323) 268-6100

Fax: (323) 265-0342

Victor Jacobs, V.P.


Se Habla Espanol

Claremont Branch

390 W. Foothill Blvd.

Claremont, CA 91711

(909) 625-7891

Fax: (909) 621-2512

AJ Jamal, V.P.


Mark Sakowski, V.P.




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