Contact Us
Get help with prequalification or technical assistance. We're with you every step of the way.
Contact Us
Get help with prequalification or technical assistance. We're with you every step of the way.
How It Works
When selling your business, getting Prequalified by LoanBud gives you a significant advantage in the marketplace. Our prequalification process evaluates your business against SBA lending criteria before you list, ensuring buyers know your business is already cleared for SBA financing.
Submitting Your Business Information
Simply complete our secure online form with basic information about your business and upload key financial documents. You'll need to provide:
3 years of business tax returns
Recent Year-to-date Profit & Loss income statement and balance sheet (within 60 days)
Optional: Business overview or offering memorandum
Sellers can submit directly or have your business broker complete the form on your behalf.
Our Evaluation Process
Our SBA loan specialists thoroughly analyze your financial statements to verify SBA eligibility. We ensure your business is stable or growing with a cash-positive net income, and we identify any potential concerns that might affect your future buyer's financing.
Within 2-3 business days, you'll receive your Prequalified Status (if approved), along with detailed feedback on your financials and the maximum loan amount potential buyers could access.
Maintaining Your Prequalified Status
To keep your prequalification active throughout your listing period, simply update your financial statements every 30-60 days. Our team will review updated statements quickly to ensure your status remains current.
Eligibility Requirements
If these are eligibility requirements, then the business must:
Be U.S.-based in an eligible industry
Show profitability with at least 1.25x Debt Service Coverage Ratio
Have clean, reconcilable financial statements
Be stable, transferable, and free of legal or tax issues
Why Prequalification Matters
For Sellers
Higher Visibility
Prequalified listings stand out to serious buyers
Better Valuation
Justifies your asking price with verified financials
Smoother Process
Reduces surprises during due diligence
Faster Closing
Financing is already lined up for qualified buyers
For Brokers
Document Management
Brokers manage a jumble of documents between parties. A centralized platform consolidates it all in one place, in real-time.
Higher Likelihood of Closing
Prequalified buyers and listings minimize deal failure and accelerate timeline for closings.
Applicant pool
We weed through the applicant pool to ensure brokers can focus on vetted, prequalified buyers—most likely to close.
Stronger Listings, More Interest
Prequalification indicates financial health, boosting buyer demand and competition.
For Buyers
Ready to secure financing? Apply for a fast & easy SBA loan today with LoanBud.
Smarter Starting Point
Target pre-screened, cash-flowing businesses that are eligible for SBA financing. With prequalification in hand, buyers are seen as serious and credible.
Reduced Deal Risk
Because both the buyer and business have been prequalified, deals are more likely to close — reducing the risk of wasted time, money, and emotional investment.
Dedicated Loan Advisors
From deal structure to documentation, LoanBud's experienced team guides the buyer through each step of the SBA process — helping buyers navigate complexities and close with confidence.
Streamlined Financing Process
With one easy application and 40+ SBA lenders in our marketplace, LoanBud matches the buyer to the perfect lender every time. Buyers access a secure document portal and receive real-time updates to track their loan process.
Frequently Asked Questions
Prequalification is an evaluation of your business against SBA lending criteria before you list it for sale. This process verifies that your business meets the requirements for SBA financing, making it more attractive to potential buyers.
Typically 1-2 business days after we receive all required documentation.
No, LoanBud provides this service at no cost to business sellers and brokers.
LoanBud loan officers will provide specific feedback and guidance on what needs to be addressed to qualify.
Submit your updated Profit & Loss Statement and Balance Sheet every 60 days to maintain active status. These financial statements should be based on reconciled transaction data, using month-end dates and the same accounting method as the last filed tax return.
Yes. Business brokers can submit information on your behalf using loanbud.io
Yes. LoanBud's referral partnership program offers compensation for brokers. Contact partners@loanbud.com or Referral Partners - Earn Commissions on Each Deal - LoanBud to apply.
Our loan officers will provide specific feedback and guidance on what needs to be addressed to qualify.
You'll need to provide 3 years of business tax returns, a recent year-to-date Profit & Loss Statement and Balance Sheet (within 60 days), and (optional) a business overview or offering memorandum.
Submit your updated Profit & Loss Statement and Balance Sheet every 60 days to maintain active status. These financial statements should be based on reconciled transaction data, using month-end dates and the same accounting method as the last filed tax return.
It's easy to register for your account at LoanBud - Close Business Acquisition Deals Faster. You may also contact our broker relations team at prequal@loanbud.com for additional training or corporate-level partnerships.
Yes, loanbud.io allows you to track all your listings in one secure centralized system with real-time updates.
Our prequalification process validates both businesses and buyers, reducing surprises during due diligence and accelerating the timeline for closings.
Complete our online application at apply.loanbud.com and submit the required personal and financial documentation. Our team will review your information and provide feedback within 1-2 business days.
You'll need to provide your personal financial statement, last 3 years' tax returns, identification documents, and information about your business experience.
We work with more than 50 SBA lenders, which allows us to match you with the ideal lender for your specific needs. LoanBud is proud to work with business owners and buyers from all 50 states and from any industry.
Bookkeeping
Clean, current financials can make a big difference when preparing for SBA financing. LoanBud has partnered with Xendoo to help small business owners get their bookkeeping, financial statements, and tax records in order before or during the prequalification process. LoanBud customers receive 10% off Xendoo bookkeeping services.
Get Your Books Loan-Ready
10% OFFfor LoanBud users
Partner with Xendoo for bookkeeping, financial statements, and tax records, so you can move through SBA prequalification with confidence.
Get Loan-ReadyClean Financials SBA-Ready Reports Smoother Prequalification
