When applying for the 8(a) Program you are required to submit the following financial statements for the business. We suggest having your accountant prepare the SBA required financial statements for your business. Alternatively, if you are using an in-house accounting system, such as QuickBooks, you may be able to use financials generated from your accounting system too. The SBA relies heavily on your financial statements and demonstrating potential for success is a critical component of an 8(a) application. Therefore, ensuring a firm meets this eligibility requirement is critical to the chances of your business getting 8(a) certified. Do not send tax returns or excel worksheets as a substitute for the following.
- You should ensure that all financials provided are prepared on generally accepted accounting principles or an accepted cash basis.
- Year to date Balance sheet and income statements, no older than 90 days, including a detailed A/P and A/R aging statement if you are operating on an accrual basis.