Fee Disclosure and Compensation Agreement
Discloses compensation paid by the applicant or lender to packagers, brokers, referral agents and other agents in connection with a 7(a) or 504 loan.
The applicant, the agent receiving compensation and the lender.
Section by section
- 1
When required
Any time an agent is paid for services in connection with the loan, including packaging and referral fees, regardless of amount. One form per agent.
- 2
Compensation and services
Describe services rendered, the total compensation, who pays, and when. Fees must be reasonable and customary; SBA reviews packaging fees above $2,500 and requires itemization.
- 3
Prohibited practices
Contingency fees tied to loan approval, fees split with the lender, and referral fees paid by the lender to the applicant's agent are restricted. The agent certifies compliance with 13 CFR Part 103.
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