The SBA 7(a) Checklist for First-Time Business Buyers
Rachel Horner
April 30, 2026 ⋅ 1 min read
Over 50% of buyers use some form of SBA financing in their deals, according to our own data.
But knowing what to prepare, when to prepare it, and what questions to have answered before your lender asks them can be enough to make your head spin.
Streamline your preparation with our SBA 7(a) Financing for Business Acquisition: The Cheat Sheet for First-Time Buyers: a single, actionable checklist that walks you through the entire process—from confirming your eligibility and structuring your deal, through documentation, underwriting, and the day you take the keys.
This checklist is especially valuable if you are:
Actively searching for a business to acquire with SBA financing
In early conversations with lenders, brokers, or advisors
Under LOI or approaching the application stage for the first time
Unsure how deal structure, seller notes, or DSCR affect your loan