Key takeaways
Numbers the package must show
Adjusted cash flow = net income + interest + depreciation + amortization ± documented add-backs
DSCR = adjusted cash flow ÷ total annual debt service (new + existing)
Total uses = total sources
Worked example (illustrative numbers)
Sample table of contents for a $750,000 SBA 7(a) acquisition package (illustrative):
- 1. Loan request summary: amount, use of proceeds, term requested, repayment source, collateral.
- 2. Sources and uses table.
- 3. Business overview and history; target business overview for acquisitions.
- 4. Management: owner résumés and the transition plan.
- 5. Historical financials: 3 years of business tax returns and statements, plus year-to-date interim.
- 6. Cash flow analysis with add-back schedule and DSCR.
- 7. Projections with written assumptions (12–36 months).
- 8. Debt schedule: lender, balance, payment, maturity, collateral.
- 9. Collateral summary and any real estate or equipment details.
- 10. Supporting documents: purchase agreement, LOI, leases, licenses, entity documents.
Illustrative only. Real terms depend on the lender, the SBA and your file.
Common gaps that stall a file
Underwriters most often return a file for missing or inconsistent information, not for a single bad number.
- Interim financials older than about 90 days
- No debt schedule or one that doesn't match the balance sheet
- Add-backs without support
- Projections with no stated assumptions
- Equity injection source not documented
Official sources (checked November 2, 2026)
- Each lender sets its own document list and DSCR minimum.
- SBA lenders follow the SBA SOP; confirm current requirements with your lender.
Rates, caps and fees change. Check the official source before you rely on any figure: SBA: 7(a) loans (sba.gov).
Common questions
How long should a loan package be?
Length matters less than order and completeness. A clear summary up front plus organized supporting documents is what lenders want.
Do I need projections?
Startups, acquisitions and expansions usually need them. Lenders want written assumptions they can test.
Can I reuse one package with several lenders?
Yes, with updates for each lender's specific requests. You approve every lender before anything is shared.
Should I email my tax returns?
No. Send sensitive documents only through a lender's secure upload portal.
Want a second set of eyes on your deal?
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