SBA 7(a) and Patriot Express Loan Checklist

Instructions: The SBA Loan Preliminary Information Request is a PDF file. Please print the Loan Preliminary Information Request, fill in the required information, and attach personal resumes. The file requires the following information:

1. Signed current (within 60 days) personal financial statement for each business owner (if more than one owner, another personal financial statement can be found here.) Please complete all sections giving a description of major assets, liabilities and contingent liabilities.
2. Signed authorization for a credit and background inquiry on each owner (if more than one owner, another credit and background authorization form can be found here.)
3. Complete a breakdown of uses and sources of proceeds for the proposed loan.
4. Description of collateral to secure the proposed loan.
5. Please attach personal resumes of all owners and key managers of the borrowing equity.

Send your completed preliminary information to us via fax, mail, or walk-in.

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BCI Lending will contact you within 48 hours of receiving your information listed above to discuss our interest in your loan. After a proposal/term sheet is issued, you may begin to gather the remaining pieces of information, listed below, in order to move along into final qualification.

1. Short summary of business history and current operations
2. Signed copies of personal federal income tax returns for the past three (3) years on individuals who own 20% or greater in the borrowing equity.
3. Detailed breakdown of total project costs, to include: building construction or acquisition costs, leasehold improvements, equipment to be purchased, any debt to be refinanced, working capital, and loan closing costs.
4. Three (3) years of historical financial statements on borrowing entity, to include: income statements, balance sheets, and cash flow statements (with accountant notes), and current interim financial statements dated within 60 days of loan application.
5. Projected financial statements for: (a) operation projections for three (3) years, to include monthly spreads of income (statements should be accompanied with balance sheets) and cash flow for the first year, and annually for years two and three; (b) start-up balance sheet for the borrowing entity, showing the proposed distribution of assets, liabilities, and equity. (Note: Include in your projections the proposed loan and any other debt to be incurred.)