Business Checklist

Application Checklist for SBAlliance Capital 504 loan: (Some items may not apply)

PERSONAL: provide the following information on all guarantors, officers, and/or 20%+ shareholders:

Financial statement within the last 60 days on SBA Form.

Cash Flow Statement on SBA Form.

Complete tax returns for past three (3) years. Need complete returns (including all schedules). If current year has not been filed or will be extended, please provide a copy of the extenstion plus complete tax returns for the previous three (3) years.

Management Resume.

Personal History Form - include any and all names, including maiden. If you are not a U.S. citizen, please include a copy of the front and back of your green card. If you are a U.S. citizen but not born in the U.S., please provide a copy of your Certificate of Naturalization or copy of your U.S. Passport.

Source of Equity Injection - if applicable: How much and where is it coming from (i.e. personal cash, sale of assets, corporate cash, etc.)?

Collateral:

Listing of assets - machinery, equipment, furniture, fixtures only. If vehicles and trucks are taken as collateral, need vehicle identification numbers. Note: machinery, equipment, furniture and fixtures need full descriptions with serial numbers of large items.

Copy of Deed of Trust or current Earnest Money Contract.

Copy of all Notes with security agreements to be refinanced with SBA proceeds.

Copy of most recent tax appraisal.

Copy of quotes for machinery, equipment, furniture, and/or fixtures to be purchased.

Copy of quotes for improvements to be made.

Copy of Buy/Sell Agreement.

BUSINESS:

Current financial statement dated within last 60 days.

Year-end financial statements for past three years.

Tax returns for past three years – (if sole proprietorship - need Schedule C for past three years). If extension filed, copy of extension plus three complete tax returns for the previous three (3) years.

Projections, with assumptions, for 12 months following SBA funding. Projections should be prepared on a monthly basis.

Debt schedule as of current financial statement date (balances as of interim date, not current as of today).

Accounts receivable aging as of current financial statement date.

Accounts payable aging as of current financial statement date.

Indicate how much officer’s salaries/owner’s draw were/will be the last 3 years, interim financial statement and projections. If no salaries are taken, please state how personal living expenses are covered.

Corporate By-Laws

Corporate Articles of Incorporation

Corporate Certificate of Incorporation.
Assumed Name Certificate - County and State.

Listing of all corporate officers (form enclosed).

Copy of Partnership Agreement.

Copy of Certificate of Limited Partnership.

Lease Agreement with option to renew for term of loan.

If purchasing existing business, letter from seller explaining why he wants to sell (i.e. retirement, sick, etc.).

Please provide a couple of paragraphs on the history of your business.

If you have any promotional materials (i.e. brochures) please send some to include in the file.

If afranchise, need a copy of franchise agreement and FTC disclosure statement.

What is the correct/complete name of the borrowing entity?
Signed engagement letter.

Deposit in the amount of $2,500. Answers to “miscellaneous” questions.

INFORMATION NEEDED FROM LENDER (SBAlliance Capital will acquire this information):

Commitment Letter

Loan Memorandum/Analysis

Credit Reports (personal and business)

MISCELLANEOUS QUESTIONS:

Breakdown of use of proceeds:

Number of employees: Before funding _______ After funding _______

Are spouses active in the business? _______

Date Company established. _______

If any guarantors or the applicant business have a 20% or more interest in other businesses, including Regular or Sub S corporations, partnerships, proprietorships, etc., please provide the following information: Percent of ownership, title (if any), current financial statement, last three year-end financial statements, and last three years tax returns.

Does your company buy, sell to, or use the services of a concern in which a 20% or more owner, officer, or director has a significant (20%+) financial interest?   YES______    NO ______

Is business or individual guarantor involved in any lawsuits?   YES______    NO ______   If yes, please provide an explanation to include description, amount, probable outcome, etc.: _______

Have any officers of your company ever been involved in bankruptcy or insolvency proceedings? YES______    NO ______    If yes, please provide detailed explanation and copy of court documents

Has any officer of your company ever had a previous SBA or government loans - funding or submissions (including student, FHA, disaster, etc.). YES______    NO ______    If yes, please provide the following information: Name of agency, date of request, approved or declined, original balance, current balance, whether current or past due.

Are you (personal and corporate) current on payroll, property, sales, and income taxes? YES______    NO ______

Does business do any exporting? YES______    NO ______   Would you like to know more about exporting? YES______    NO ______

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