Tax documents for foreign partner in SBA loan

searcher profile

October 21, 2022

by a searcher from Northwestern University - Kellogg School of Management in Chicago, IL, USA

I'm under LOI with a minority partner who is based in Austria. Because his stake is >20%, he is filling out all the SBA loan application docs and sending over his tax returns, but they're in German.

Does anyone know if this will complicate things for our SBA approval? Do we need to get the tax documents translated first?

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Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
Yes, you will most likely need to get them translated. The lender is likely not going to have the resources to do so.
commentor profile
Reply by a searcher
from Northwestern University in Chicago, IL, USA
Thanks, Brad. Any idea if they need to be "certified" or just standard translations?

I assume the former takes longer and costs a bit more, but not sure exactly how much.
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