Fillable Standard 7(a) LGPC Submission Cover Sheet (U.S. Small Business Administration)

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Standard 7(a) LGPC Submission Cover Sheet (U.S. Small Business Administration)

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U. S. Small Business Administration
Standard 7(a) Loan Guaranty Processing Center
6501 Sylvan Road Ste 122
Citrus Heights, CA 95610
Standard 7(a) LGPC Submission – Cover Sheet
Lender Name:
Contact:
Title:
Phone:
Fax:
Email Address:
Name:
Contact:
Phone:
Fax:
Email Address:
Correspond with Lender
Correspond with Lender Service Provider
To submit via: “Send This File” click here.
Lender Contact Information
Lender Service Provider Contact Information
U.S. Small Business Administration, Standard 7(a) Loan Guarantee Processing Center (LGPC), Citrus Heights, CA / Hazard, KY
(Rev. 1/7/2014)
Standard 7(a) LGPC 10-Tab Submission Instructions
The 10-Tab Submission PDFs were developed to help you create your LGPC Submission Package. Use of theses
Submission PDF’s is required for all packages submitted to the LGPC. Please read and follow these instructions.
Failure to provide all information per these instructions could result in unnecessary delays in the processing of
your guarantee request. Note: The submission PDFs were developed so your documents can be electronically
inserted into them. They were not
designed to be printed and scanned with your loan documents.
Click here to get the most current version of the submission PDFs.
LGPC Submission Template (tabs 1-5).pdf
Tab 1 – Application
• SBA Form(s) 1919
• SBA Form 1920SX
Tab 2 – Lender’s Credit Memo
• Lender’s Credit Memo
• Schedule of Collateral
Tab 3 – Draft Authorization
• (Required only for CLP/PLP lenders)
Tab 4 – Owner/Operator Personal Information
• Personal Financial Statement (SBA Form 413)
• SBA Form 912 (if required)
• Verification of Alien Status (if required)
Tab 5 – Other Processing Documents
• Business Valuation
• Transcripts for SID refinance (w/Lender’s statement)
• List of all M&E being purchased
• All other documents not listed elsewhere
LGPC Submission Template (tabs 6-7).pdf
Tab 6 – Business Financials
• Current Income Statement and Balance Sheet
• Last 3 FYE Income Statements and Balance Sheets
• Cash Flow Projections
• IRS Form 4506-T
• Seller’s Financials (if purchasing a business)
Tab 7 – Affiliate Financials
• Current Income Statement and Balance Sheet
• Last 3 FYE Income Statements and Balance Sheets
LGPC Submission Template (tabs 8-10).pdf
Tab 8 – Supporting Docs (Eligibility)
• Franchise and Related Documents
• Business/Stock/Asset Purchase Agreements
• Real Estate Purchase Agreements
• Other Agreements
Tab 9 – Supporting Docs (Collateral)
• Real Estate Appraisal
• Environmental Investigation Reports
• Lease Agreements
Tab 10 – Supporting Docs (Other)
Steps on How to Submit an SBA 7(a) Loan
• Complete all required SBA forms and provide the applicable documents listed on the Submission
Checklist (following page). SBA forms can be found at http://www.sba.gov/for-lenders
.
• Please ensure each section of the applicable SBA forms are completed in their entirety, signed, and dated.
• Please include contact person(s) name(s) along with a fax number and email address for correspondence.
• Retain a copy of the completed file, including all required SBA forms.
Loan application packages can be sent to the LGPC via the following methods:
e-Tran
Upload your
application forms
and documents via
the upload link on
the e-Tran web site.
Electronic File Transfer (FTP)
Go to http://www.sba.gov/content/send-
file and click the “Send a file” link for
“Standard 7(a) Loan Guaranty
Processing center (LGPC) – CA or KY”
* Not Recommended *
Applications under a file
size of 9 megabytes may
be e-mailed to
7aloanprogram@sba.gov
Fax
(606) 435-2400
Mail
Standard 7a Loan Guaranty
Processing Center – CA
6501 Sylvan Road Suite 122
Citrus Heights, CA 95610
Standard 7a Loan Guaranty
Processing Center – KY
262 Black Gold Boulevard
Hazard, KY 41701
Upon receipt of your application, we will e-mail you a confirmation along with an SBA control number.
If you have any questions, contact your local office, call us at (877) 475-2435, or email 7aquestions@sba.gov
.
Tab 1
Application
Borrower(s) Information
SBA Form(s) 1919
Lender’s Application
SBA Form 1920SX (parts B & C)
Borrower Information
SBA Form 1919, must be completed and signed by the
following:
For a sole proprietorship, the sole proprietor;
For a partnership, all general partners and all limited partners
owning 20% or more of the equity of the firm;
For a corporation, all owners of 20% or more of the corporation
and each officer and director;
For limited liability companies (LLCs), all members owning 20%
or more of the company and each officer, director, and
managing member;
And:
Any person hired by the business to manage day-to-day
operations;
Any person required by SBA to guarantee the loan.
Lender’s Application
SBA Form 1920SX (parts B & C)
Tab 2
Lender’s Credit Memo
Lender’s Credit Memo, with:
Schedule of Collateral
When refinancing SID:
Transcripts of the loan(s) being refinanced, and
An explanation of any late payments and late charges
that have occurred during the last 36 months
Lender’s Credit Memo
Required for all applications
For loans up to and including $350,000, see SOP 50 10 5(F), Pages 161-163 for complete
LCM requirements which include:
A brief description of the history of the business and it’s management;
Debt service coverage ratio; and
Owner/Guarantor analysis (including personal financial condition).
For loans > $350,000, see SOP 50 10 5(F), Pages 163-164 for complete LCM requirements
which include the above, and:
A financial analysis including: Analysis of the historical financial statements (defining EBITDA,
documenting additions and subtractions to cash flow, and showing DSC of at least 1.15:1), defining
assumptions supporting projected Cash Flow, when used, spread of pro-forma Balance Sheet, Ratio
Calculations, and Working Capital analysis;
Collateral Analysis;
Explanation and justification for any refinancing;
Analysis of credit, including lender’s rationale for recommending approval;
For a change of ownership, discussion/analysis of business valuation;
Discussion of any liens, judgments or bankruptcy filings; and
Discussion of any other relevant information.
Tab 3
Draft Authorization
Required for CLP lenders, and recommended for all
other lenders
Submission of the Draft Authorization will help ensure that your
loan approval will reflect the amounts, terms, and conditions that
you have requested.
Tab 4
Owner/Operator Personal Info.
Personal Financial Statement -
(SBA Form 413),
(and Personal Tax Returns - when submitted)
SBA Form 912 - (Personal History Statement) (if required)
Verification of Alien Status (if required)
Personal Financial Statement
(SBA Form 413, or Lender’s Equivalent)
Must be provided for all owners of 20% or more and for all
proposed guarantors (and must include all assets of the
owner’s spouse and any minor children).
Must be provided for all Trustors if applicant is owned by a
Trust.
Must include all requested information.
Must be signed and dated within 90 days (including signature
of non-owner spouses).
SBA Form 912
(Personal History Statement)
Required only if question 1, 2, or 3 of Form 1919 is answered
“Yes” (see SOP 50 10 5(F), page 198).
912 Addendum “B” (or equivalent), when required.
SBA Form FD-258 (fingerprint card), when required (hard
copy must be mailed to the SBA).
Verification of Alien Status
Required for any alien required to complete SBA Form 1919.
(see SOP 50 10 5(F), pages 103-104)
Tab 5
Other Processing Documents
Business Valuation -
See SOP 50 10 5(F), Pages 174-175 for requirements.
Payment Transcripts for each SID being refinanced
(along with an explanation of any late payments and late
charges that have occurred during the last 36 months) -
Required for all same institution debts being refinanced with SBA loan
proceeds. (See SOP 50 10 5(F), Page 116).
List of all M&E being purchased (with cost quotes) -
Required for all M&E being purchased with SBA loan proceeds.
All other documents not listed elsewhere
Business Valuation
Required for all change of ownership transactions.
When intangibles being financed are greater than $250,000
(or when there is a close relationship between the buyer and
seller) an independent Business Valuation from a “qualified
source” is required.
When intangibles being financed are less than or equal to
$250,000, the lender may perform its own valuation of the
business (unless the lender’s policy requires an independent
valuation be obtained).
Payment Transcripts for SID Refi.
(along with Lender’s Statement)
Required for each same institution debt(s) being refinanced
with SBA loan proceeds. (see SOP 50 10 5(F), page 116)
Must include an explanation of any late payments and late
charges that have occurred during the last 36 months.
List of All M&E Being Purchased
Must include cost quotes, for all M& E being purchased with
SBA loan proceeds.
Other Processing Documents
Please do not put any documents in this section if they are
identified elsewhere.
Tab 6
Business Financials
Current Income Statement & Balance Sheet
FYE Income Statements (or Income Tax Returns) &
Balance Sheets, for last 3 yrs.
Cash Flow Projection
- month by month, for one year
(required for all new businesses, and when otherwise applicable)
IRS Form 4506-T (Request for Copy of Tax Return)
If purchasing an existing business with SBA loan
proceeds, a copy of seller’s financials for the last 3
fiscal years, plus interim statements within 180 days
of date submitted to SBA
(see SOP 50 10 5 (F), Page 199)
Both must be dated the same date, within 180 days of
submission date.
All must be signed and dated by the applicant or an
authorized officer (if a blanket statement as to their accuracy
is not included).
Must include reconciliation of Net Worth.
Current (Business)
Income Statement & Balance Sheet
(within 180 days of date submitted to SBA)
Fiscal Year-End (Business)
Income Statements & Balance Sheets
(for most recent 3 years)
All copies must be properly signed and dated by the
applicant or authorized officer (if a blanket statement as to
their accuracy is not included).
Cash Flow Projections
(month by month, for one year)
Required for all new businesses, and when otherwise
applicable.
IRS Form 4506-T
(Request for Copy of Tax Return)
Required for all applications.
Note: Lender’s Credit Memo must also include a statement that lender has
verified the FTRs to the transcripts received from the IRS.
Seller’s Financials
Income Statements & Balance Sheets
(most recent 3 year’s ending)
Required when purchasing an existing business with SBA
loan proceeds.
Must include interim statements within 180 days of date
submitted to SBA. (see SOP 50 10 5(F), Page 199)
Tab 7
Affiliate Financials
Current Income Statement & Balance Sheet
FYE Income Statements (or Income Tax Returns) &
Balance Sheets, for last 3 yrs.
(See SOP 50 10 5(F), page 198)
Both must be dated the same date, within 180 days of
submission date.
Must be signed and dated by the applicant or an authorized
officer (if a blanket statement as to their accuracy is not
included).
Must include reconciliation of Net Worth.
Current (Affiliate)
Income Statement & Balance Sheet
(within 180 days of date submitted to SBA)
Fiscal Year-End (Affiliate)
Income Statements & Balance Sheets
(most recent 3 year’s ending)
All copies must be properly signed and dated by the
applicant or authorized officer (if a blanket statement as to
their accuracy is not included).
Tab 8
Supporting Docs (Eligibility)
Franchise Documents
Business/Stock/Asset Purchase Agreements
Real Estate Purchase Agreements
Other Agreements
Franchise Documents
Required when the applicant is a franchise.
(see SOP 50 10 5(F), Pages 77-85)
An executed Certification of Franchise documents.
or (if not available)
A complete copy of the Franchise Agreement, including any required
addendums, & FTC Disclosure Report.
Required when the franchise is not listed on the franchise registry.
The following may also be required:
Licensing Agreement
Dealer Sales Agreement
Fuel Supply Agreement
See Franchise Registry at http:www.franchiseregistry.com/
Business/Stock/Asset
Purchase Agreements
Required when the business/stock/other assets will be
purchased with the proceeds of this loan.
Real Estate
Purchase Agreements
Required when real estate will be purchased with the
proceeds of this loan.
Other Agreements
Tab 9
Supporting Docs (Collateral)
Real Estate Appraisal
Environmental Investigation Reports
Lease Agreements
Real Estate Appraisal
Required at time of submission when lender owned real
estate (OREO) is being financed (see SOP 50 10 5(F), page 112-
113)
. Otherwise, it may be a condition of closing.
(see SOP 50 10 5(F), pages 171-173)
Environmental Investigation Reports
Required when a security interest is taken in commercial
real property. (see SOP 50 10 5(F), pages 178-185)
Lease Agreement
With terms (including options to renew) at least as long as
the term of the loan, if applicable.
Tab 10
Supporting Docs (Other)
Such as:
Articles of Organization
Business License
Documentation of Lawsuits/Judgments/Bankruptcy
Note: Although these documents should be retained in your file, it is rarely
necessary to submit any of them to SBA.
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Standard 7(a) LGPC Submission Cover Sheet (U.S. Small Business Administration)

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Completed 14 October 2020

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