Borrower-side acquisition checklist
- Deal structure
Purchase price, working capital, closing costs, loan request, borrower cash, seller note, and every other source and use.
- Business financials
Three years of business federal tax returns, current profit and loss statement, and current balance sheet.
- Borrower financials
Personal federal tax returns, personal financial statement, credit profile, liquidity, and equity documentation.
- Debt schedule
Current business obligations, balances, payments, rates, maturities, and whether each debt remains after closing.
- Repayment model
Historical cash flow, proposed add-backs, projected debt service, planning DSCR, and downside cases.
- Management case
Borrower résumé and a concise explanation of direct or related operating experience.
- Acquisition documents
Letter of intent or purchase agreement, lease, seller-note terms, franchise documents when applicable, and ownership structure.
- Projections
Two-year projections with stated assumptions and a clear bridge from historical performance to the forecast.
Make sources equal uses
The sources-and-uses schedule should account for the purchase price, working capital, fees, and other project costs. The SBA loan, borrower injection, seller financing, and other approved sources should cover the same total. Document seller-note payment, standby, and subordination terms rather than treating the note as generic equity.
Show how the business repays the loan
Lenders evaluate the historical operating business, the proposed transaction, and the borrower together. Explain which earnings adjustments are recurring and supportable, then stress the debt service with conservative assumptions.
Expect lender-specific requests
The SBA states that application contents vary by loan size and the lender's processing method. This checklist is a preparation baseline, not a universal final submission list. Your lender may require additional forms, collateral information, environmental reports, valuations, franchise documents, or ownership records.
Official next step
When the package is ready, compare participating lenders on SBA experience, structure, rates, terms, fees, and fit. BorrowerDesk does not sell lender introductions.