Document checklists by product: MCA, term loan, LOC and SBA

An advance can fund on four months of statements and an ID. An SBA loan cannot. Asking an MCA merchant for three years of tax returns loses the deal; sending an SBA lender a two-page application wastes a month. Start each file with the right list, then add what the specific lender asks for.

These lists are what lenders commonly ask for. Every lender sets its own requirements, and bigger requests usually mean more paper. For why the packages differ, read Documents: SBA vs alternative lending.

1. 1Open the deal's Documents & stips tab. If it is empty, click Use the standard checklist to add the five core MCA items.
2. 2For anything else, click Add item. Type What is needed (for example "2024 and 2025 business tax returns") and pick a Document type such as Business tax return, Personal tax return, Articles of incorporation, EIN letter, Lease agreement or Payoff letter. An upload of that type ticks the item off.
3. 3For papers with no matching type (a P&L, a debt schedule, an SBA form), leave the type blank and use Mark received from the item's menu when it arrives.
4. 4Waive standard items this lender does not need, so they do not block Ready for Submission.

Set the deal's Product for non-advance requests: SBA 7(a), SBA Express, SBA 504, line of credit, term loan, equipment finance or invoice factoring. The Use the … checklist button then adds that product's standard package: SBA asks for three years of business and personal tax returns, Form 413 and Form 1919, the debt schedule, a year-to-date P&L and balance sheet, a business plan for businesses under two years old, the lease when the premises are leased, Form 159 when an agent is paid and, for a 504, the purchase agreement. Lines of credit and term loans ask for two years of returns, financials and statements, equipment for the vendor invoice or quote, factoring for the A/R aging, the invoices and the customer list. Your owner can add items every new deal starts with under Settings then Pipeline then Automatic conditions, which apply to all deals.