SBA Use of Funds template?

searcher profile

February 01, 2023

by a searcher from University of Illinois at Chicago in Chicago, IL, USA

I'm putting together my documents for a SBA loan and have everything but my use of funds. My banker didn't give me a ton to go off in terms of format and I struggle with blank sheets. So a template would be good to react off of to get my brain flowing. Anyone have a good template they've used for the SBA use of funds requirement?

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commentor profile
Reply by a lender
from University of Michigan in Indianapolis, IN, USA
HI Griffin. One of the most energizing things about SBA lending is that every deal has its own unique attributes. As such, I wouldnt think so much in terms of uses of funds template, but rather, "how much do I need to borrower, and for what purposes"-just spell it out. The more specific you can be the more credible your application will be. (need funds for M&E? put a dollar amount to it, describe the equipment, provide a supporting quote. Need funds for working capital? How will you use the funds? (generally speaking, w/c funds needs to have a "support growth" bias) Your lender can provide the SBA grty fee and other lender costs.
commentor profile
Reply by a lender
from Pennsylvania State University in Tampa, FL, USA
^redacted‌ please message me the best way for me to get my templates over to you. I have plenty of tools I'd gladly share with you. If you'd prefer, email me at redacted or text/call###-###-#### Happy to help!
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