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) 

The content of this podcast is my own and does not necessarily reflect the views of my employer. 

This episode sets the stage for what we'll be discussing in future episodes, and that is:  The Art of SBA Lending. We hit on topics such as:  how perception of the program has changed, the role of technology and the internet, and how to create happy borrowers.

The content of this podcast is my own and does not necessarily reflect the views of my employer.