Application Checklist

Download a printable Application Checklist form.

1. Project

   • Copy of signed purchase agreement for land and/or building*.
   • Copy of Sworn Construction Statement including construction bids*.
   • Copy of equipment list (purchase invoices)*.

2. Business

   • History and description of the business (business plan)*.
   • Current balance sheet and income statement (accrual basis) for the Operating Company (OC). Must be within 90 days of the application date*.
   • Accounts receivable and accounts payable aging reports corresponding with current balance sheet*.
   • Debt schedule, corresponding with current balance sheet, detailing all obligations for the OC*.
   • Last three fiscal year-end balance sheets and income statements (accrual basis) and completed signed copies of past three years' income tax returns for the OC*.
   • Request for IRS transcripts (IRS Form 4506-C - Request for Transcript of Tax Return for OC and owners)*.
   • Any business in operation less than two years must provide a projections of earnings - estimate 2 year, including a description of assumptions, showing the effect of the proposed project plus a month-by-month statement of cash flow*.
   • For business start-ups or expansion projects - Breakeven Analysis

3. Business Misc.

   • Filed copy of Articles of Incorporation and By-laws, and/or Partnership Agreement and/or Limited Liability Company Organizational documentation or Certificate of Assumed Name
   • Employer identification number/Tax identification number for the real estate holding company and/or OC.
   • Names, addresses and last two fiscal year-end financial statements or tax returns of any subsidiaries and/or affiliates, if applicable. Copy of signed franchise or dealer agreement, if applicable.
   • Copy of new lease between OC and real estate holding company, if applicable (sample lease which satisfies SBA requirements).

4. Personal

   • Signed Personal financial statements (including spouse) (SBA Form 413 - Personal Financial Statement; not more than 90 days old from application date)*.
   • Complete and signed copies of the past three years tax returns, including all W-2's, schedules and K-1's from all owners of the OC*.
   • Resumes of all officers and key management of the OC*.
   • Personal history statements (SBA Form 912 - Personal History Statement) from all officers of the OC*.
   • Assignment of Life Insurance policy as collateral on key owner(s) of the OC.

5. Lender

   • Sample Bank Commitment Letter with Credit Elsewhere Statement from first mortgage lender.
   • Credit reports for all owners.
   • Business credit report for the OC.
   • Copy of lender's credit memorandum.
   • Appraisal of project (NOTE: this must be ordered by participating lender and must include CMDC and U.S. Small Business Administration in the reliance statement).
   • Environmental investigation: Phase I or a Phase II (which must include an environmental reliance letter to CMDC and U.S. Small Business Administration) or an environmental questionnaire and records search with risk assessment.
   • Itemization of soft costs (include professional fees, contingencies and interim interest).

* Required Items for Pre-Qualifaction Submittal

Printable Application Checklist Form

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