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The document is a Borrower's Certification required for obtaining a U.S. Small Business Administration (SBA) guaranteed loan. It outlines various certifications that the borrower and operating company must acknowledge, including receipt of loan authorization, financial condition, compliance with child support and immigration laws, tax obligations, environmental regulations, and proper use of loan proceeds. The document also specifies ongoing responsibilities related to financial reporting, equal opportunity practices, occupancy requirements, and restrictions on asset distribution and ownership changes.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Do SBA loans have to be paid back?

1. Impact on Credit Score. Failure to repay an EIDL loan can significantly impact the business owners credit score. This can make it difficult to secure financing in the future and may also affect personal credit.

How do I check my SBA 1201 loan balance?

View loan balance and make payments Create an account in the MySBA Loan Portal (lending.sba.gov) to monitor your loan status or to make payments. You are responsible for your COVID-19 EIDL monthly payment obligation beginning 30 months from the disbursement date shown on the top of the front page of your Original Note.

What happens if I dont pay Eidl?

To receive a 7(a) loan, small businesses must fill out Form 1919. A copy of the form must be filled out by each principal stakeholder or owner who controls at least 20% of the business, trustors, and anyone hired to run the business general operations.