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Sba 1919 Form: What You Should Know

SBA Form 1919: How to Fill out the Borrower Information Form Why is the SBA Form 19 1920 required? The SBA needs to ensure that the loan is approved before your business begins operation. If loan approval falls outside the 5-year average time to initial operation of the business (15 or more business days), there is a provision in Section 528 of the Code relating to “failure to comply with loan qualification criteria.” What's in this SBA Form 1919? The following is a summary of the information and information you need to supply to the SBA: Lenders you might like to contact: Please ask for the name, address, telephone number, and fax number of the person or entity that you're applying for a loan from. You may be required to provide specific information about your business. Your business information include the name, address, and the physical address where your business conducts its business. Other entities that might be interested in your business. Include the name, address, telephone number, and fax number of the business's contact person and any business entities related to it: Your business may also be known as a “Condo, Shop, or Farm”. An example of a condominium is a private property built with units for sale. An example of a shop is a business whose main purpose is to sell new or used merchandise The names and addresses of your principal officers and shareholders. If the corporation is a partnership or LLC, then your name should appear on the partnership or LLC's own Schedule K-1. (If it is an individual you'll have to include the signature of the individual on this Schedule K-1.) You, your spouse, and any of these persons' dependents (children, parents, siblings, etc.) You must provide certain information for the following people who are your principals/shareholders/owners: You must also provide information for any of these persons who meet the definition of the principal(s) or of an affiliate of your company. These are known as the “affiliates” of your company SBA Form 1919: How to Fill out the Borrower Information Form What is SBA Form 1919? Who is required to fill out SBA Form 1919? All applicants for a 7(a) loan must fill out SBA Form 1919 within 180 days of being accepted into the Borrower Information System of the SBA.

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