Qualifying for an SBA Loan

Size Qualifications

To be eligible for the 7(a) and 504 loan programs under the alternative size standard, a business must have net worth under $15 million and an average net income of less than $5 million over the past two years.
 

Business Characteristics

  • Owners with good character and strong management skills
  • Business net worth consistent with industry averages
  • Ability to repay based on historical cash flow or projected cash flow
  • Reasonable collateral


Loan Application Information

  • Personal and business tax returns
  • Business financial statement for past three years
  • Current business financial statement
  • Aging of accounts receivables and payable
  • Articles of Incorporation and Bylaws
  • Personal tax return from prior three years
  • Current personal financial statements from all principals
  • Other documentation may apply depending on loan type

Contact Small Business Banking:

Paul Liles
SBA Banking Manager
(630) 488-3007