What Documents Are Required for SBA Loans

Applying for an SBA loan can be one of the smartest financial moves a small business owner makes — but success depends on preparation.

Submitting the right documents up front not only speeds up the process but also increases your chances of approval. Incomplete or inconsistent paperwork is one of the top reasons SBA applications are delayed or rejected.

Here’s everything you need to know about what documents are required for SBA loans, why each one matters, and how to organize them for a smooth approval in 2025.

Why Documentation Matters for SBA Loans

SBA loans are funded by approved lenders but partially guaranteed by the U.S. Small Business Administration. Because taxpayer money backs part of the loan, lenders and the SBA require detailed financial documentation to verify that your business is legitimate, stable, and capable of repayment.

Well-organized, complete documentation shows lenders that you’re professional, credible, and financially responsible.

Required Documents for All SBA Loan Types

Most SBA loans — including the 7(a), 504, Express, and Microloan programs — share a core list of required documents.

Here’s your SBA loan document checklist for 2025.

SBA Loan Document Checklist

1. SBA Application Forms

SBA Form 1919 (Borrower Information Form) — Required for every principal owner (20%+ ownership).
SBA Form 912 (Statement of Personal History) — For background and character checks.
SBA Form 413 (Personal Financial Statement) — Details your assets, liabilities, and net worth.
SBA Form 159 (Fee Disclosure Form) — Required if you hire a broker or third-party agent to assist.

Tip: Fill out all fields accurately. Missing signatures or incomplete boxes are common causes of processing delays.

2. Business Financial Statements

Your lender will need a clear snapshot of your company’s current financial health.

✅ Profit & Loss (P&L) Statement — Must be current within 90 days of application.
✅ Balance Sheet — Lists all assets, liabilities, and equity.
✅ Cash Flow Statement — Shows your business’s liquidity and repayment ability.
✅ Accounts Receivable and Payable Aging Reports — Highlights your incoming and outgoing payments.

Pro Tip: Use accounting software like QuickBooks or Xero to generate clean, dated reports in PDF format.

3. Business Tax Returns

Last 2–3 years of federal business income tax returns (complete with all schedules).
Must align with the figures in your financial statements.

If your business is new and doesn’t have tax returns yet, lenders may request projected income statements and startup financial plans instead.

4. Personal Tax Returns

The SBA requires personal tax returns for all individuals who own 20% or more of the business.

✅ Include 2–3 years of recent returns, signed and dated.

This helps lenders assess personal income stability and financial responsibility — especially if you’re providing a personal guarantee.

5. Business Debt Schedule

Provide a detailed list of all current debts, including:

Lender names and contact info
Original loan amounts
Current balances
Interest rates
Monthly payment amounts
Maturity dates

Tip: The SBA often uses this to calculate your Debt Service Coverage Ratio (DSCR) — so double-check that totals match your balance sheet.

6. Business Plan or Loan Proposal

A business plan helps lenders understand how you’ll use the loan and repay it.

Include:

Executive summary
Business description and mission
Market analysis
Products or services overview
Competitive advantage
Management experience
Use of loan funds (breakdown of how money will be spent)
Revenue projections (12–24 months)

Pro Tip: The SBA gives bonus points to applicants who demonstrate industry expertise and realistic financial projections.

7. Business Licenses and Legal Documents

✅ Copies of:

Business license or permit
Articles of incorporation or organization
Partnership agreement or operating agreement (LLC)
Fictitious business name statement (DBA), if applicable
Franchise agreement (if applicable)
Commercial lease agreement (if renting property)

Lenders use these to verify that your business is legally registered and compliant with state and local regulations.

8. Owner Resumes

SBA loans aren’t just about numbers — lenders also evaluate management experience.

Provide a professional résumé for each owner or key executive. It should highlight:

Business experience
Industry background
Leadership roles
Achievements and relevant training

Strong résumés demonstrate capability and leadership — especially for startup borrowers.

9. Collateral Documentation

For loans requiring collateral (typically over $25,000–$50,000):

Real estate deeds or property appraisals
Vehicle titles
Equipment lists with serial numbers and valuations
Inventory lists with estimated resale values

The SBA allows both business and personal assets as collateral when necessary.

10. Bank Statements

Provide 3–12 months of business bank statements to prove consistent cash flow and responsible account management.

Tip: Avoid overdrafts and negative balances before applying — lenders look closely at cash management patterns.

11. Personal Identification

✅ Required for all guarantors and principal owners:

Driver’s license or government ID
Social Security number or EIN
Proof of U.S. citizenship or legal residency

Additional Documents for Specific SBA Loan Types

For SBA 504 Loans:

Real estate purchase agreement or construction budget
Equipment quotes or invoices
Environmental impact report (if applicable)

For SBA Microloans:

Short business plan and startup projections
Personal references (for smaller loans under $50,000)

For SBA Disaster Loans:

Proof of physical or economic damage
Insurance settlement information (if available)

How to Organize Your SBA Loan Application

Create a digital folder for all documents (PDF format).
Label each file clearly — e.g., Business-Tax-Return-2023.pdf.
Double-check dates, signatures, and consistency across all forms.
Submit through your lender’s secure online portal (preferred by most SBA-approved banks).

Common Mistakes to Avoid

❌ Submitting outdated or unsigned tax returns
❌ Missing financial statements or loan purpose details
❌ Not reconciling discrepancies between tax returns and P&L
❌ Forgetting to include personal financial statements
❌ Leaving blanks on SBA forms