SBA Loan Form 912
The SBA Statement of Personal History Form 912 must be completed by everyone who answers yes to questions 18 or 19 on SBA 7(a) Borrower Information Form 1919, Section II: Principal Information.
These questions ask whether the individual principal applying has been arrested within the last six months or whether they have EVER, I want to stress EVER, been convicted, pleaded guilty, pleaded nolo contendere, been placed on pretrial diversion or been placed on any form of parole or probation for any criminal offense other than a minor traffic violation. Just to be clear a DUI is not a minor traffic violation.
If you answer yes to question 18 on SBA 7(a) Form 1919 you must answer yes to question 8 on SBA Form 912 and you’ll likely answer yes to question 7 also, unless the matter has already been resolved at the time of your application.
If you answer yes to question 19 on SBA 7(a) Form 1919 you must also answer yes to question 9 on SBA Form 912.
Answering yes to one of these questions does not automatically disqualify an applicant, however, it does mean eligibility will be determined by an SBA government employee which may increase the length of time it takes to complete the loan application.
Therefore, I recommend all applicants disclose any and all criminal convictions at the outset. This may be uncomfortable but it will establish the proper expectations for timing and results.
This next step is important. If you do answer yes to questions 7, 8 or 9 you must furnish details of your offense in a separate document to include dates, location, fines, sentences of arrests and convictions, whether the offense was a misdemeanor or felony, dates of parole or probation, unpaid fines or penalties, the name in which you were charged and any other pertinent information.
Once you’ve answered all the questions and prepared your statement in a separate document, you are now required to sign the form, certifying the honesty and accuracy of your answers to the Federal Government. Therefore always, I stress always answer the questions honestly and accurately. Inaccurate or fraudulent answers will be discovered and may result in immediate disqualification.
Contact your ThinkSBA loan specialist right away if you have general questions or aren’t sure how to answer a particular question or complete your statement of personal history.
Congratulations! You’re now ready to complete SBA Statement of Personal History Form 912.
My SBA Loan Pro
The My SBA Loan Pro Podcast is hosted by Your SBA Loan Pro, Ryan Smith. In each episode Ryan provides valuable information and best practices regarding the SBA loan program.
Each episode is approximately one minute in length and addresses topics related specifically to SBA 7(a) and 504 loan programs to purchase real estate, acquire a business or franchise and obtain working capital.
You’re encouraged to listen and subscribe to ensure you’re notified each time a new episode is available. Ryan publishes a new episode weekly on Tuesday mornings, unless he’s kidnapped to a deserted island of course.