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Startup Loan Checklist: Document Requirements for New Businesses

New Business and Startup Lending Resource

Streamline your startup loan application with our comprehensive document checklist. For new businesses without two or three years of tax returns, and for lenders who underwrite the founder and the plan. Collect a business plan, projections, use of funds, personal financials and credit, entity and EIN documents, industry experience, and any collateral so the file can support SBA, bank, or nonprofit startup credit.

Startup Loan Checklist: Document Requirements for New Businesses form template preview

Key Benefits

Present a complete plan, projections, and use of funds
Document founder credit, personal financials, and experience
Prepare entity, EIN, and license items before opening
Identify collateral or equity injection the lender expects
Reduce conditions on SBA and nonprofit startup programs
Professional startup-lending workflow

Common Use Cases

Founders applying for a first business loanSBA 7(a) or microloan files for businesses under two years oldNonprofit and CDFIs underwriting startupsOwners injecting equity and documenting the sourceFranchise startups assembling a lender packageAdvisors preparing a first-year cash-flow forecast

Frequently Asked Questions

Can a brand-new business get a loan?
Yes, but underwriting leans on the founder's credit, industry experience, equity injection, and a credible plan. SBA 7(a), microloans, and some nonprofit lenders are more startup-friendly than conventional bank term loans. Equipment vendors may finance the asset with a personal guarantee.
What documents replace historical tax returns?
A business plan, monthly projections (often 12-24 months), use of funds, personal tax returns and a personal financial statement, a resume, entity docs, and source of down payment or injection. If you have any months of sales, include those bank statements.
How much equity do startups need?
SBA and banks often want 10-30% injection for startups, more for special-purpose or thin-experience files. The source must be documented (seasoned savings, gift with letter, or eligible equity). Borrowed down payments usually do not count.
Is a personal guarantee required?
Almost always for a startup. Owners above the lender's threshold (often 20%) guarantee the debt and provide personal tax returns and a Form 413 or equivalent. Weak personal credit is the most common startup-loan denial.

Checklist

Application

Startup or SBA loan application listing owners and requested amount
Required

Use of proceeds, jobs, and any franchise or location details.

Business Documentation

Business plan covering market, operations, and management
Required

Must support repayment. Include resumes of founders and key managers.

Entity documents, EIN, licenses, and assumed-name filings
Required

Articles, operating agreement, and proof you can operate legally.

Founder resume and any industry contracts or franchise agreement
Required

Two years in the line of work is a common SBA expectation; document equivalents.

Financial Documentation

Monthly cash-flow projections (typically 12-24 months) with assumptions
Required

Show how the loan is repaid. Tie assumptions to market or franchise data.

Detailed use-of-funds and sources of equity injection
Required

Equipment, build-out, working capital. Document the cash you are putting in.

Guarantor Documentation

Personal tax returns (2 years) and personal financial statement
Required

Form 413 if SBA. Credit authorization for each guarantor.

Collateral

Collateral list and valuations if assets will be pledged

Equipment quotes, real estate, or blanket UCC. Startups with no assets rely more on the PG.