SBA Loans
Preparing an Underwriter-Ready SBA Loan File
An underwriter-ready SBA file leads with the use of funds and the repayment story, then supports it with complete financials. Missing documents — not weak businesses — slow most SBA files down.
SBA-prefered lenders evaluate three things: the use of funds, repayment capacity, and borrower contribution. A complete package lets them focus on the merits of the deal instead of chasing paperwork.
- Write a one-page use of funds and repayment narrative
- Reconcile financials so tax returns, interim statements and bank deposits agree
- Assemble a sources-and-uses statement that balances to the dollar
- Include personal financial statements for every 20%+ owner
- Add a current business debt schedule with payment amounts and balances
The documents lenders expect
| Business returns | Last 3 years |
| Personal returns | Last 3 years |
| Interim financials | Year-to-date |
| Debt schedule | Current |
| Personal financial statement | Each guarantor |
| Sources & uses | Complete |
Why files stall
Most delays trace to inconsistent numbers, unexplained deposits, or an incomplete sources-and-uses — not to the business itself. Fix those before you submit and the review moves noticeably faster.
Frequently asked questions
How long does SBA take?
Roughly 4–8 weeks for 7(a) and 6–10 weeks for 504, depending on appraisal and documentation.
Is a business plan required?
Not always, but a clear use-of-funds and repayment narrative helps.