Editor's choice: Biz2Credit business loans
- Low starting APR of 4%
- Transparent about minimum and maximum costs
- Options for high-risk businesses
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
The Small Business Administration (SBA) uses Form 1919 to gather information about your business and its owners. It's required for the SBA 7(a) program. With 26 questions, it's longer than many other SBA forms, so set aside at least an hour to fill it out.
Section I of Form 1919 goes into detail about your business's address, owners, how much you want to borrow, your debts and any connection to the government.
Before you get started, make sure your form is up-to-date by checking the expiration date in the top right-hand corner. If it's not, you can find the most recent version on the SBA website.
You can either fill out the form in dark ink or type into a PDF reader. All signatures need to be in dark ink, however. Print as neatly as possible to avoid any confusion.
Two types of people should fill out Form 1919 Section I:
To save time, gather the following documents and information before you start filling out Section I:
Under Applicant business legal name, write the business's name as it appears on tax forms. Check OC if you're an operating company — most applicants are. Check EPC if you're an Eligible Passive Company, or a company that leases property to operating companies. EPCs are only eligible for real estate financing through the SBA.
If your business has a trade name that's different from its legal name, write that under DBA or trade name. Fill out your business's address, tax ID, phone number, project address, primary contact and email address as it appears on its tax return.
Write the amount you're applying to borrow next to Amount of loan request and what you intend to use the loan for next to Purpose of the loan.
Then fill out the following fields:
Write the name, title, ownership percentage and address of each person who owns shares in the business. This should include all owners, partners and investors. All percentages should add up to 100% — if not, check your math.
Not enough room? Attach another sheet with additional information.
Follow these directions to check either yes or no or true or false for the following sets of questions:
Form 1919 is what the Small Business Administration uses to get general information about your business and its owners. This includes who the owners are, if they have any conflicts of interest and if the businesses or any of its owners have any debts or had any run-ins with the law. It's also known as the SBA's borrower information form.
Your lender and the SBA use this form for multiple purposes. Primarily, it helps them determine if your business is eligible for the loan, what other forms you need to fill out and authorizes the SBA to conduct background checks.
All that's left is to submit your form to your lender. However, depending on the answers to some of the questions, you might need to fill out some other forms.
For example, if any of the principals have a criminal history, all principals must fill out and submit Form 912, which goes into more detail. And if your business plans to use any third parties to help with the application, it might need to submit Form 159.
Reach out to your lender or the SBA if you have any questions.
Form 1919 might seem more involved than some other SBA forms, but it's relatively straight-forward because it only involves basic information about the business and its owners. There's none of the fancy math that's required for the personal financial statement, for example, and you might not need to dig deep into your personal and business files for answers.
Don’t be fooled by false promises — here are red flags to watch out for and tips to find a legit company.
Compare options if you’re self-employed, a freelancer, a partner and more.
Here’s where to get financial help for yourself and your business if you’ve been affected by the storm in February 2021.
The White House announced new changes to PPP loans, helping the smallest businesses and opening access to people with student loan defaults or nonfraudulent felony convictions.
Small lenders continue to offer a lifeline to small businesses for First and Second Draw loans.
12 unique financing options — including SBA loans — for new and established franchises.
The PPP wasn’t made with sole proprietors and independent contractors in mind. Here are other options that can help.
A lender who primarily offers loans to underserved small business owners.
Some PPP borrowers can get another round of funding through community lenders — though not all can qualify.
Ascent guides women entrepreneurs through key steps to starting a business. But its disaster assistance is too little, too late.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.