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The 7 Documents a Banker Asks For

What to gather before you apply for a business loan.

Whether it's an SBA loan, a term loan, or a line of credit, most lenders ask for a similar core package. Having it ready shortens the process and shows you're organized.

1. Business tax returns (usually 2–3 years). The lender's main evidence of historical income and cash flow.
2. Personal tax returns (2–3 years) for each owner. Most small-business loans require a personal guarantee from owners with 20%+ ownership, so the bank looks at you too.
3. Year-to-date profit & loss statement and balance sheet. Shows how the business is doing since the last tax return. Keep it current within 60–90 days.
4. Business bank statements (3–12 months). Confirms deposits match reported revenue and shows your average balance and any overdrafts.
5. Debt schedule. A list of every current business debt: lender, original amount, balance, payment, rate, and maturity. Lenders use it to calculate your debt service coverage.
6. Formation and ownership documents. Articles of organization, operating agreement, EIN letter, and any business licenses.
7. Personal financial statement. Your assets, liabilities, and net worth. Many banks have their own form (the SBA uses Form 413).

Why it matters

Underwriters are answering one question: can this business repay the loan from its cash flow, with a backup source if it can't? Every document feeds that answer. Missing or inconsistent documents are one of the most common reasons files stall.

Tip: Make sure the numbers agree across your returns, P&L, and bank statements. If they don't, be ready to explain why.