SBA HOTEL LOANS

We will need the following items on all shareholders / owners holding a 20% or more ownership in the borrowing entity.

Loan Forms:

• Loan Application
• Credit Authorization – cost of credit is approximately $47 per individual
• SBA Personal Financial Statement – needs to be completed in detail
• SBA Resume – must be completed in detail
• Business Debt Schedule – must tie into balance sheet

Documents

• Personal Tax Returns for the most recent 3 years – need the complete Federal Tax Returns only, however we need the complete returns with all schedules and including W-2’s and K1’s for all 3 years
• If applicable, we need the business returns for all entities for the most recent 3 years – need the complete Federal Tax Returns with all schedules
• 2 ID’s – good copies of 2 government issued ID’s (e.g. Driver’s License and Passport)
• Current year to date profit and loss statements with balance sheet and business debt schedules on all business owned by borrowers through the end of the most recent month

Additional Items

• If a purchase, we will need an executed copy of the purchase contract, the sellers most recent 3 years tax returns and a current year to date profit and loss statement with balance sheet
• If new construction, we will need a copy of the approved plans and the general contractor’s quote
• If a franchise, we will need a copy of franchise agreement
• If a PIP is involved, we will need a copy of the PIP and Contractor’s Quote to complete