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Sba 652 Form: What You Should Know

In this case, the SBA representative is the applicant. Form 652 may be used for the following purposes: (1) Determine whether an applicant is eligible to receive SBA assistance; (2) Determine whether an applicant is qualified to participate as a consultant or adviser in the SIC's management or operations; and (3) Prove compliance with applicable regulatory requirements. For these purposes, the SIC shall provide the required information to the applicant and the SBA representative upon request. Form 652 is used to: (1) Describe the business relationship between the SIC and the applicant in a manner that accurately describes the business relationship; (2) Describe the relationship between the borrower and the borrower's agent as the SIC and the agent are members of the same entity, regardless of whether the SIC is the lender or borrower; (3) Describe the relationship between the SIC and the borrower, including with regard to the financial terms underwriting the loan and the level of interest and any fees or charges, if any; and (4) Describe (i) the nature of the relationship between the lender and the applicant and the lender's involvement with the applicant, and (ii) the nature of the investment or business which is the subject of the SIC's participation. SBA Form 652 Summary: A lender uses this form to provide information regarding loan terms, use of proceeds, and more. SBA Form 652, Assurance of Compliance for Nondiscrimination Documentation Lookup (formerly known as Form 653) — Small Business Administration Summary: A SBA program administrator uses this form to provide information regarding compliance with the SBA rules regarding documentation used in the development and administration of a State loan guarantee program. SBA Form 653, Documentation of Compliance — State Bank Regulation Size Status Declaration — Small Business Administration Summary: A Small Business Administration (SBA) program administrator uses this form to provide information regarding compliance with the Small Business Act and the SBA regulations which apply to State loan guarantee programs. The SBA will continue to improve the accuracy and completeness of its administrative files. We encourage you to check the SBA administrative files regularly for necessary amendments to your file. The SBA encourages you to ask for a file revision when requested by the applicant.

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