Borrower Information Form
Collects applicant business and principal information, ownership, affiliate relationships, prior government debt and character disclosures for every 7(a) application.
Every proprietor, general partner, officer, director, managing member and owner of 20% or more of the applicant, plus any trustor and the operating company and EPC where applicable.
Section by section
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Section I · Applicant business information
Legal name, DBA, EIN, address, NAICS, ownership table with percentages that must total 100%, EPC/OC designation and the list of affiliates. Affiliation under 13 CFR 121.301 is determined by ownership, management, identity of interest and franchise relationships, and every affiliate must be disclosed even if it has no debt.
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Section I · Prior government financing
Question on previous SBA or other federal loans, including those of affiliates. A prior default or loss to the government does not automatically disqualify but triggers a lender review and may require a waiver.
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Section II · Principal information
Each principal completes name, title, ownership percentage, SSN, citizenship status and residency. Questions cover current criminal proceedings, arrests in the past six months, prior convictions, debarment and delinquency on federal debt including child support.
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Certifications
Principals certify the accuracy of the information, acknowledge the SBA's right to verify, and consent to credit and background checks. False statements carry criminal penalties under 18 U.S.C. 1001 and 15 U.S.C. 645.
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