Nov 5, 2019
In this episode, I do a deep dive into the SBA pre-approval process, specifically covering the topic of term sheets.
- Immediate term sheets vs. credit-approved term sheets
SBA Pre-Approval Checklist:
Personal (anyone who owns 20%+)
- Personal Financial Statement
- 3 years Personal Tax Returns
- Personal Credit Score
- Resume
Business
- 3 years Business Tax Returns
- Interim Financials (P&L Statement and Balance Sheet - no more than 90 days old)
- Business Debt Schedule (if applicable)
Transaction
- Project Cost Breakdown
- LOI / Purchase Agreement (if applicable)
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