SBA Form 4 "Application for Business Loan" the backbone of the SBA's loan and covers a variety of areas. This form personal and business information, and requires a number of annexes
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areas that are covered by SBA Form 4 .:
- Personal information
- by number of employees Proposed use of funds from loans
- back federal debt support in your loan application
- Business debt
- management personnel
- exhibits with supporting information and documentation
- certification
- guarantor signatures
This article will guide you fill by 4 form, and help you on your way to completing your SBA loan application.
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How fill SBA Form 4
Page 1
the top of the page starting with general information about you and your business. use for this section, information that corresponds to what you use for your personal and business tax
Individual: .. Use your complete personal name as it appears on your taxes
Full address: Use them your home address
name of applicant business: .. Use it your company name, as in the recent federal tax document appears
tax identification number or SSN: If you are applying as a sole proprietorship, use your SSN. If you are applying as a partnership, LLC, or a company, use your federal tax ID number as it appears on a current tax document
Full Road of Business .: Use your business address as it appears on the tax records. Fill in the city, state and zip code in the respective fields
Type of business : .. Be in the type of business your company as registered with the State
date Business Established: was legally formed under state control information the date your business Use
Bank of business account and address :. Write in the full name of the bank and its full address
number of employees (including subsidiaries and affiliates) .:
at the time of application: , the number of staff is currently employed in your company. Including a full-time employee, part-time work, and temporary
If loan approved .: an estimate of the number of employees ensure that your business will have once you gain access to the proceeds of loan
subsidiaries or affiliates .: is currently the number of employees list of companies that are either subsidiaries or affiliates of your company. After SBA consists affiliation when "a business controls or has the power to control or if a third party (or parties) controls or has the power to control the two companies. Other Control may or by owning, managing other relationships or interactions between the parties arise. "Make sure to check on the fullSBA definition of the membership to determine if you are involved in communication.
Use of Proceeds
This section of SBA Form 4 requires you to give a detailed overview on how you intend to use your SBA loan. You should list the amounts to the nearest hundred dollars. The "All Other" section is a catch all for all applications that do not fit any other category. If you have listed all intended purposes, add the total and write that in the "Total requested loan" a. Under "duration of the loan - (. Request Mat)" write the desired term of the loan down. The repayment terms available, differ depending on the type and use of your loan. The standard maturities for 7a 25 years for real estate, up to 10 years for equipment, and generally up to seven years of capital for labor. For the 504 is the term usually 10 or 20 years. For disaster loans, the maximum term is 30 years. Be aware that the interest rate maxima by the SBA set for 7a loans vary on the repayment term of the loan. See our "Guide to SBA interest rates" for more information.
back SBA or other Federal Debt
This section of SBA Form 4 requires you to disclose whether you applied for any funding from the federal government or will each. These include student loan debt. Even if you were denied financing, you still need to disclose this information. Under "name of the agency," write the state agency for which you applied for funding (Small Business Administration for SBA loans or Department of Education for student loans). Next, fill the original size of the loan turned out, was the date of your loan application, whether the loan is approved or rejected, the current balance remaining on the loan, and if you on your payments overdue current or past.
help
This section requires you to disclose whether you hired someone to prepare to assist SBA loan application, as well as how much you paid. This section corresponds to SBA Form 159. 159 to form our guide here.
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2
business NEGLIGENCE
This section requires you to list maintained by your company all the debt, federal debt without (in the "Back SBA or other Federal debt to be listed on page 1). They should mortgages, credit cards, no rate debt, contracts, notes, etc . In the "to Whom payable" included section, try both the name of the bank or the individual and the account number to match. Make sure an asterisk to write next to the debts that you intend to pay off these loans. your lender may try to compare this information on a credit report, so it should be enough information to identify the account. Add the original amount (set for credit $ 0), date of the credit has been approved, yet excellent balance, interest rate, maturity, monthly payment, whether the debt is secured (most credit card debt is not secured), and if you form 4 requires this section of the SBA, that you are all people in key management positions, as well as all payments to the list due date or in the past.
Management
shareholders. You must account for 100% of the shares, so you can attach another sheet must (if you attach another sheet, write the applicant company name, date and "Management" on the top of the page). The racial information is optional and does not affect the credit decision.
exhibits
The exhibits section that begins halfway down page 2 is probably the most complicated part SBA form 4. This section requires you many support material assemble and compile it with this application. If you attach another sheet, you should your business subject name, the date and the exhibition name to write (that is Exhibit A). This guide is any question that in a time when you go to help understand how this chapter to navigate
Question 1 :. This question you must submit 912 a form for all "principles" that every owner, shareholders, officers, directors, managers LLC member, holder of 20% or more equity, trustor, and any person hired by the applicant to provide, including the day-to-day operations. For more information about how to fill 912-Form, see our guide 912.
toQuestion 2 - Exhibit A: This question requires a disaggregated to create list of your collateral. Fortunately, the SBA a form, schedule of collateral Exhibit A, with the help with the necessary information. Use your personal name and address as they appear on your tax documents.
Section I is reserved for all the real estate that you own. You need a copy of the certificate (s) securing a complete legal description of the land and its location. Following the address, provide the year you acquired the property and the original cost. For the "market value", you can either contact you use a real estate agent for an estimate, or an online service like Zillow.com. For the "amount of Lien" field, set the residual value of your mortgage. For "the name of the lienholder", write in the name of the bank that holds your mortgage. Below that, you should disable the feature, including information such improvements, size, type of construction, use, number of stories, and describe current state (you can use additional sheet if more space is needed).
Section 2 SBA Form 4 is where you need to index all personal items of significant value. Everything included with a value of more than $ 5,000 must serial numbers. In order to determine "market value" can be used on-line services, such as Kelley Blue Book (for cars) or ebay.com. Any property that you. More payments must also the amount of outstanding debt to the point (Current Lien Balance), and the holders of the debt securities (name of the lienholder)
haveOnce you cataloged all your precious possession, you and your spouse must sign the form and date
Question 3 - Annex B .: This question requires you to provide a signed current record available for each shareholder (with 20% or more ownership), partners, executives, and owners. Add the assets and liabilities of the spouses and all close relatives who live elsewhere. We recommend SBA form 413 to use for this question. Check out our guide to make 413 for detailed information on how to complete this form
Question 4 - Annex C :. This question requires you to provide financial information to about your business. You must provide a balance sheet, income statement, assets, aging of receivables and liabilities are available, and a net income projection. You might want to hire a professional to help you assemble these materials. If you hire someone do, make sure you fill out Form 159 (see guide through 159 here form)
Question 5 - Exhibit D .: requires this question you get to write a brief history of your company and the expected benefits from the loan you describe
question 6 - Appendix e :. This question requires that you describe, listed the qualifications and experience of all people under management. This may be similar to a CV and should summarize the formation of the management team technical and business background
include Question 7 - Exhibit F .: This question you need to make the name available, address, tax ID number (EIN or SSN) and current personal balance (s) of a co-signer and / or guarantor for the loan, which are otherwise not connected to the company. Ensure that this information corresponds to the information that you provide on the form available 413.
Question 8 - Exhibit G: This section requires that you want to post a list of all equipment available or equipment or other non-real estate assets that you are planning to purchase with your credit. Enter the cost of each item, as indicated by the seller and the seller's name and address. Try to make accurate cost, rounded to the nearest dollar. This information should enable "Use of Proceeds" on page 1.
matchQuestion 9 - Exhibit H: This question requires you, if you or any officers have to disclose your company involved in bankruptcy or insolvency proceedings, ever. If not, just check "No". If so, you must provide the details in a written statement
Question 10 - Exhibit I .: This question requires you to disclose when or your company are involved in any pending litigation. This information should be comprehensive in the "contingencies" in SBA form 413.
provided match Question 11 - Exhibit J: This question requires you to disclose if you. or your spouse or a member of your household, or someone who manages or directs your business or their spouses or household members working for the SBA, Small Business Advisory Council, SCORE, or ACE, has any Federal or the participating lenders If so, you must provide the name and address of the person is available and the office where employed. When you apply for an SBA Express, Export Express, small loans or advantage CAPLines loans, this information should correspond to questions 20-24 on Form 1919 (see our guide here in 1919 to form).
Question 12 - Appendix K: This question requires you whether your business to disclose possess their owners or majority shareholders or have a controlling interest in another company. If this is the case, you need their names and the relationship with your company offer along with a current balance sheet and income statement for each. This information should 413th on the "Other Assets" field in the "Assets" on everyone SBA form
matchQuestion 13 - Exhibit L: This question requires that if you made, sell or use the services of a concern in which someone in your company has reveal buy about 14 a substantial financial contribution
- Exhibit M .: This question requires you to disclose whether your business is a franchise (see SBA definition here). If it is a franchise, you must include a copy of the franchise agreement and a copy of the FTC disclosure statement that will come from the franchisor. When you apply for an SBA Express, Export Express, small loans benefit or CAPLines loans, this information should also 9 questioning to correspond Form 1919.
Question 15 - Exhibit N: This question applies only to loans in which a portion of the proceeds will be used for construction. If you have listed on page 1 of money in the "new building / extension Repair" box in the "Use of Proceeds", you must provide an estimated cost of the project and an explanation of the source of the additional funds.
16 question - Exhibit A: This question also applies to loans used for construction, and requires you to copies of the preliminary design plans and specifications available put. Be aware that the final plans are before the payment required
Question 17 :. This question determines whether your company is currently active in the export trade. When you apply for an SBA Express, Export Express, small loans benefit or CAPLines loans, this information should also 8 questioning on match form 1919
Question 18: this question determines whether you will use proceeds of this loan to support your company exports. When you apply for an SBA Express, Export Express, small loans or advantage CAPLines loans should provide this information also 8 on the form in question correspond 1919.
Question 19: check "yes" or "no" if you want the SBA will provide information on exporting.
Page 4
Applicant Certification
the last request completed 4 SBA form, the certification of each owner, General Partner, each Limited Partner to own or shareholders more than 20%, the guarantor and the spouse of any of these. Each person may only sign once.
are wondering how to get an SBA loan? Click here to get our free guide:
apply as for an SBA loan
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