Small Business Development Center

CHECKLIST FOR SMALL BUSINESS LOAN

(EXISTING BUSINESS)


PERSONAL FINANCIAL STATEMENT
PERSONAL CASHFLOW STATEMENT
PERSONAL CREDIT REPORT
BUSINESS PLAN NARRATIVE
BALANCE SHEET & PROFIT/ LOSS STATEMENTS (THREE YEARS)
PROJECTED NEXT YEAR INCOME STATEMENT
SOURCE & USE OF FUNDS
COPIES OF FEDERAL INCOME TAX FOR PAST THREE YEARS
AGING OF ACCOUNTS RECEIVABLE FOR CURRENT FINANCIAL STATEMENT
SCHEDULE OF ALL BUSINESS TERM DEBT (NOTES, CONTRACTS AND LEASES
PAYABLE)
COPIES OF BUSINESS NOTES WHICH ARE BEING REFINANCED
COPY OF EXISTING FACILITY AND EQUIPMENT LEASE (IF APPLICABLE)


NOTES:
  • ALL THE ABOVE INFORMATION MUST BE PROVIDED BY THE APPLICANT TO COMPLETE A SMALL BUSINESS LOAN PACKET FOR DIRECT LOAN OR SBA LOAN.
  • OWNER EQUITY INJECTION OF 20% TO 30% IS REQUIRED FOR ALL BUSINESS LOANS.
  • THE SBA LOAN PROGRAM GUARANTEES UP TO 85% OF LOANS TO BANKS AND HAVE APPLICANT FEES UPON LOAN APPROVAL. FEES ARE AS FOLLOWS:
LOAN AMOUNT FEE
LOW DOC (UP TO $150K) 2%
150K TO 700K 3%
Over 700K 3.5%


PROVIDED BY THE SMALL BUSINESS DEVELOPMENT CENTER

Del Mar College
3209 S. Staples
Corpus Christi, TX 78411
(361) 698-1021
1-888-698-6111 (outside local area)
http://www.delmar.edu/sbdc/

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