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SBA 504 Loans
SBA 504 Loans
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Application Checklist

We’ve provided an easy-to-understand application checklist for the SBA 504 loan, detailing the most commonly required paperwork and documentation necessary for borrowers.

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Application Checklist

When applying for a 504 loan, you’ll need to provide the CDC and your lender with a very wide range of documentation. We have included the most commonly required documents below.

  • Business tax returns for the previous three years

  • Personal tax returns for the previous three years

  • Personal history statement

  • Personal financial statement

  • Personal budget analysis

  • Business financial statements for the previous three years

  • Business debt schedule

  • If you are applying for a loan for a hotel or motel, you will need:

    • Revenue and expenses breakdown for the past year (month to month)

    • Occupancy percentage and average daily rate information for the previous year (month to month)

    • Occupancy percentage and average daily rate for the area

    • Your hotel projection worksheet

  • Interim financial statement (signed and dated, and including balance sheet and income statement dated within the previous two months)

  • Accounts receivable aging (dated within the previous two months)

  • Accounts payable aging (dated within the previous two months)

  • Complete business plan

  • One year of financial projections with assumptions

  • Purchase agreement

  • Written estimate from a contractor if the loan is for construction

  • If this is a franchise, you will need a letter of intent from the franchisor and a FUOC and franchise agreement

  • If you are buying another business, also include:

    • The business owner’s tax returns for the previous three years

    • Interim finance statement dated within the last 60 days

    • Signed purchase agreement with cost breakdown, amendments, etc.

  • If you are using gift funds, you will need to provide a gift letter

  • Previous government financing schedule

  • Environmental impact questionnaire

  • Application certification an authorization

  • Documents pertaining to the ownership of other businesses and their finances (if applicable)

  • Copy of loan agreement and SBA authorization if you have another SBA loan

  • If you are refinancing a loan, you will need:

    • Copy of the original debt documentation

    • Your original purchase agreement, including settlement sheet, etc.

    • Lienholder information

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SBA 504 Loans is a Janover company. Please visit some of our family of sites at: Multifamily Loans, Multifamily Today, Commercial Real Estate Loans, SBA7a Loans, CMBS Loans, Apartment Loans, HUD Loans, HUD 221d4 Loan, HUD 232 Loan, HUD 223f Loan, HUD 223a7 Loan, SBA Express Loans, SBA 504 Loans, and OpportunityZones Help.

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This website is owned by a private company that offers business advice, information and other services related to multifamily, commercial real estate, and business financing. We are a technology company that uses software and experience to bring lenders and borrowers together.

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