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The new SBA Form 1919 removed questions about past criminal history and replaced them with a question on whether the Applicant or any Associate of the Applicant is presently incarcerated, on probation, on parole or presently subject to an indictment for a felony or any crime involving financial misconduct or false
What is a 1920 form?
The purpose of this form is to collect identifying information about the Lender, the Small Business Applicant (Applicant), the loan guaranty request, sources and uses of funds, the proposed structure and compliance with SBA Loan Program Requirements, as defined in 13 CFR 120.10.
What is SBA Form 1919 used for?
Form 1919 is required if youre applying for an SBA 7(a) loan. It collects all of the information the SBA needs to perform a complete background check for a potential borrower, including: Your background. Co-owners/co-applicants and other major players involved in running your business.
What are the changes to the SBA form 1919?
SBA Form 1920 has been retired as of August 1, 2023.
Who is required to fill out the SBA form 1919?
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.
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