SBA loan basics
Short answer
You will need personal and business financial statements, tax returns, a business plan, legal documents, and personal history information.
Lenders typically require a comprehensive application package including historical business financial statements (P&L, balance sheets, cash flow), personal and business tax returns, a detailed business plan with projections, personal financial statements of owners, bank statements, legal entity documents, and personal history statements (SBA Form 1919) for all 20%+ owners.
For a business acquisition, you would gather the target business's past three years of tax returns and financials, your personal tax returns and bank statements, your resume, a purchase agreement, and a business plan for the acquired entity.
13 CFR Part 120 — Business Loans
Office of the Federal Register · Federal regulation
SOP 50 10 - Lender and Development Company Loan Programs
SBA Form 1919 - Borrower Information Form
SBA 7(a) Loans Overview
Last checked 2026-06-13. Official sources control — verify before relying on any rule for a live deal.
Last reviewed 2026-06-13 · SBA sources checked through 2026-06-13. DealRoom analysis of public SBA 7(a) lending records (FY2020–present). Grounded in the current SBA rulebook; verify against the official sources above before relying on it for a live deal. Not legal, tax, or financial advice, and not an approval decision.
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