Prepare the following documents to expedite your 7(a) loan application process.
1. Filed Tax Returns – Full unredacted business tax returns, for the three years* preceding the date of the loan request (i.e. FY20, FY21, FY22). This will be the full Form 1040, including Schedule C or (as applicable), Form 1065, Form 1120, or Form 1120-S depending on the business legal structure.
a. Note: we require up to the past three years of tax returns, however if your business is between 1-3 years in business, please submit the corresponding amount of documents
2. Bank Statements – Operating account statements for the three months preceding the date of the loan request.
3. Void or Cancelled Check – The check must match the bank statements.
4. Balance Sheet – Reporting date must be within 90 days of the loan request date. If you do not have a Balance Sheet, review our Balance Sheet Financial Template series to download a balance sheet template and watch an instructional video on how to create a balance sheet for your business.
5. Year-to-Date Profit & Loss Statement – P&L showing year-to-date totals through the reporting date. Reporting date must be within 90 days of the loan request date. If you do not have a Profit & Loss Statement, review our P&L Financial Template series to download a P&L template and watch an instructional video on how to create a P&L for your business.
6. Franchise Agreement or Fuel Supply Contract, if applicable
7. Filed Articles of Organization or Articles of Incorporation, if applicable
8. DBA or Fictitious Name Certificate, if applicable
9. Operating Agreement, By-Laws, Partnership, or Trust Agreement, if applicable
10. Business Debt Schedule – Template is available for download via your NEWITY Dashboard within the Smart Portal.
Affiliate Documents, if applicable
11. Filed Tax Return – Full unredacted business tax return from the most recent tax year preceding the date of the loan request (ie FY2021, FY 2022). This will be the full Form 1040, including Schedule C or Schedule F (as applicable), Form 1065, Form 1120 or Form 1120-S depending on the business legal structure.
Provide the following documents for all 20% or greater equity owners of the business
12. Filed Tax Returns – Full unredacted tax returns for the individual for the three years preceding the date of the loan request. This will be the full Form 1040, with all supplementary schedules attached.
13. Personal Identification – Front and back image of valid and unexpired state driver’s license or state identification.
14. If a 20% or more owner is not a US citizen, but is a lawful permanent resident, the following are required:
- Copy of Permanent Resident Card (front and back)
- USCIS Verification & Authorization Letter