Am I ready? / Government-backed and community lending

Government-backed and community lending

Loans and guarantees from the SBA, USDA and state programs, and community lenders, often for businesses that banks turn down.

What providers of these 15 routes usually ask for. Items asked for by more routes come first, and count for more in the score. Your ticks stay in this browser and nothing is stored.

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Financial statements
Jobs plan
Debt schedule

Financial statementsRecent year-end and interim financial statements
Asked for by 11 routes: EXIM working capital guarantees and export credit insurance, Industrial revenue bonds (small issue bonds), New Markets Tax Credit financing, SBA 504 loans, SBA 7(a) loans, SBA export loans, SBA Express loans, SBA lines of credit (CAPLines and others), Program-related investments and impact funds, State small business capital programs (SSBCI), USDA Business and Industry loan guarantees
Jobs planHow many jobs the project will create or keep, which issuers often ask about
Asked for by 5 routes: Industrial revenue bonds (small issue bonds), New Markets Tax Credit financing, SBA 504 loans, Program-related investments and impact funds, USDA Business and Industry loan guarantees
Debt scheduleEvery loan the business has now or plans in the next 12 months, with the lender, original amount and date, balance, monthly payment, rate, maturity, collateral and whether it is up to date
Asked for by 5 routes: SBA 504 loans, SBA 7(a) loans, SBA Express loans, SBA lines of credit (CAPLines and others), USDA farm loans (Farm Service Agency)
Owners and citizenshipEvery direct and indirect owner and guarantor, with their share and proof each is a US citizen or US national
Asked for by 5 routes: SBA 504 loans, SBA 7(a) loans, SBA export loans, SBA Express loans, SBA lines of credit (CAPLines and others)
Cash flow forecastA month-by-month forecast showing how the loan will be repaid
Asked for by 4 routes: Community development lenders (CDFIs), SBA 7(a) loans, SBA lines of credit (CAPLines and others), SBA Microloans
Personal financial statementsSBA Form 413, or the lender's own version, for each owner of 20% or more and each guarantor, signed and dated within 90 days
Asked for by 4 routes: SBA 504 loans, SBA 7(a) loans, SBA export loans, SBA lines of credit (CAPLines and others)
SBA Form 1919The SBA's borrower information form, filled in and signed for the business, including what the loan is for and how many people the business employs
Asked for by 4 routes: SBA 7(a) loans, SBA export loans, SBA Express loans, SBA lines of credit (CAPLines and others)
What the money is forA list of the costs the loan will pay for, with quotes or invoices where you have them
Asked for by 4 routes: SBA 7(a) loans, SBA Express loans, SBA Microloans, State small business capital programs (SSBCI)
Project costsThe purchase price or building quotes, equipment quotes and other costs of the project
Asked for by 3 routes: Industrial revenue bonds (small issue bonds), New Markets Tax Credit financing, SBA 504 loans
Business and personal tax returnsFederal returns for the business and each owner of 20% or more, and IRS Form 4506-C or 8821 so the lender can get transcripts from the IRS
Asked for by 3 routes: SBA 504 loans, SBA 7(a) loans, SBA Express loans
Personal credit report checkedA recent copy of your credit report, with any errors corrected
Asked for by 3 routes: SBA 504 loans, SBA Microloans, USDA farm loans (Farm Service Agency)
CollateralA list of assets you could pledge, with values
Asked for by 3 routes: SBA 7(a) loans, State small business capital programs (SSBCI), USDA Business and Industry loan guarantees
Business planWhat the business does, who its customers are, and what the loan will pay for
Asked for by 2 routes: Community development lenders (CDFIs), Program-related investments and impact funds
Financial recordsRecent tax returns, bank statements and, if trading, profit and loss figures
Asked for by 2 routes: Community development lenders (CDFIs), SBA disaster loans
Export orders or contractsPurchase orders, contracts or letters of credit from foreign buyers, or from US buyers who will export your goods
Asked for by 2 routes: EXIM working capital guarantees and export credit insurance, SBA export loans
Articles and operating agreementYour articles of incorporation or organization as filed with the state, and your bylaws, operating agreement or partnership agreement, which the lender may ask to see
Asked for by 2 routes: SBA 504 loans, SBA 7(a) loans
Your own money in (new businesses)For a business in operation a year or less, proof of at least 10% of the project's costs from your own funds
Asked for by 2 routes: SBA 7(a) loans, USDA Business and Industry loan guarantees
Aged receivables reportUnpaid invoices by customer, country and age, with foreign and domestic customers shown separately
Asked for by EXIM working capital guarantees and export credit insurance
Inventory reportWhat you hold, what it cost and which of it is for export orders
Asked for by EXIM working capital guarantees and export credit insurance
Issuer foundThe industrial development authority or state agency that issues bonds where your plant is, and its fees and timetable
Asked for by Industrial revenue bonds (small issue bonds)
Census tract checkedYour address checked on the CDFI Fund's mapping tool, showing whether the tract counts as a low-income community
Asked for by New Markets Tax Credit financing
CDEs with creditsA shortlist of CDEs serving your state from the CDFI Fund's awards database, and whether each still has credits to use
Asked for by New Markets Tax Credit financing
SBA Form 1244The application for a 504 loan, completed with your Certified Development Company, listing every owner and their share
Asked for by SBA 504 loans
Your contributionProof of at least 10% of the project cost (15% or 20% in some cases) from your own funds
Asked for by SBA 504 loans
Disaster declarationThe declaration that covers your county, from the SBA's list of current disasters
Asked for by SBA disaster loans
Damage recordsPhotos, repair estimates and lists of damaged property, equipment and inventory
Asked for by SBA disaster loans
Insurance claimYour insurance claim and any settlement, since payouts reduce what you can borrow
Asked for by SBA disaster loans
Export planThe products or services you will export, the countries you will sell to, and your expected export sales for the next 12 months, with how the loan helps
Asked for by SBA export loans
Funders matchedA shortlist of foundations and community lenders whose published mission or program areas match your work
Asked for by Program-related investments and impact funds
Your state's program checkedThe programs on Treasury's list for your state, and which lenders or funds take part
Asked for by State small business capital programs (SSBCI)
Farm operating planA current balance sheet and a farm operating plan with a projected cash flow budget showing production, income, expenses and how you will repay
Asked for by USDA farm loans (Farm Service Agency)
Farm recordsThe last 3 years of farm financial records, including tax returns, and production records, unless you have been farming for less time
Asked for by USDA farm loans (Farm Service Agency)
Farm experienceA written description of your farm training and experience, and that of each owner who will manage or work the farm
Asked for by USDA farm loans (Farm Service Agency)
Owners and citizenshipFor a business entity, each member's address, citizenship, occupation and share, a financial statement from each, and the entity's articles and agreements
Asked for by USDA farm loans (Farm Service Agency)
Letters from lendersFor a direct loan, letters from banks or other lenders that turned you down or would only lend on terms you could not meet
Asked for by USDA farm loans (Farm Service Agency)
Rural address checkedThe project's address checked on USDA's eligibility map for business programs
Asked for by USDA Business and Industry loan guarantees

Government-backed and community lending

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