What the Loan File Contains
The File
Every lender asks for roughly this list, one document at a time, over three weeks of email. The borrower who sends it complete on day one reads as organized before anyone opens the model. The Form 413, Form 1919, and seasoning entries cover the three items that surprise first-time buyers.
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The File, Piece by Piece
- Three years of the target's business tax returns, plus interim financials current within about 60 days
- Three years of your personal tax returns
- SBA Form 413, the personal financial statement, reconciling with your bank statements
- SBA Form 1919, the borrower information form, answered completely the first time
- The signed LOI or purchase agreement, with price and structure the file's numbers match
- Proof of the equity injection with its seasoning: statements showing where the cash sits and has sat
- Projections with stated assumptions, built from verified earnings rather than the CIM
- A sources and uses table: what the deal costs all-in and who funds each piece
- A resume or one-page background making the case you can run this specific business
- Your acquisition entity's formation documents and EIN, once formed
- A term life application started early: the lender assigns the policy as collateral, full underwriting runs weeks rather than days, and many lenders will not fund without the assignment in hand
Lenders add their own forms on top of this set; ask for the full list in the first call, and cover the file with the Lender Package Cover template.