SBA rules · SOP 50 10 8.1

What is SBA Form 1919?

SBA Form 1919 is the Borrower Information Form required for 7(a) loans, which must be completed and signed for the applicant and each co-borrower to detail loan purposes, certifications, and employee numbers.

Quoted from SBA SOP 50 10 8.1Every quote checked word for word

In detail

Form identity and purpose: Form 1919 is the Borrower Information Form, which includes borrower certifications such as the requirement to agree to purchase American-made equipment and products to the extent feasible.
Separate form per co-borrower: A separate SBA Form 1919 must be completed and signed by the authorized representative of the applicant for each co-borrower, and the aggregate amounts of the loan purpose sections across all forms must equal the total loan request.
Employee and job creation data: The form collects data on the number of existing employees at the time of application (counting all individuals on a full-time, part-time, or other basis without converting to full-time equivalents, and excluding 1099 contractors) as well as the expected jobs created and retained.
Submission to the SBA: Only the information required on SBA Form 1919, rather than the form itself, is submitted into the SBA Loan System, but the lender must obtain and retain the signed form in its file.
File retention: The lender is required to retain the signed form in the loan file, either as a wet-ink hard copy or electronically signed in accordance with SBA electronic signature standards.

The source

What the SOP says

“SBA Form 1919 Borrower Information Form

SOP 50 10 8.1, Appendix 1: Forms and Related SOPs > SBA Form 1244 Application for Section 504 Loan (lines 4090-4126)✓ Verified

“A separate SBA Form 1919 for each Co-Borrower must be completed and signed by the authorized representative of the Applicant and submitted to the Lender. The aggregate amounts of the “Purpose of the loan” sections across all SBA Forms 1919 should equal the total amount of the loan request. Only the information required on SBA Form 1919, and not the form itself, must be submitted into the SBA Loan System, although the Lender must obtain and retain the signed form in its file.

SOP 50 10 8.1, Appendix 20: Submission of Application for Guaranty > SBA Form 1919 (lines 5750-5760)✓ Verified

“SBA Form 1919 includes information on the number of existing employees at the time of application and the number of jobs to be created and/or retained as a result of the loan.

SOP 50 10 8.1, Appendix 20: Submission of Application for Guaranty > Contents of Lender’s Application for Guaranty & Submission to SBA (lines 5739-5749)✓ Verified

“Obtain the Borrower’s agreement that it will, to the extent feasible, purchase only American-made equipment and products with the proceeds of the loan. This certification is included on the SBA Form 1919.

SOP 50 10 8.1, Chapter 6: SBA Terms and Conditions through Disbursement for all 7(a) Loans > Before disbursing an SBA Express, Export Express or 7(a) Small Loan, the Lender must: (lines 3032-3040)✓ Verified

“Lenders must retain the original Note; Guaranty(ies); Security/Collateral documents such as mortgages, deeds of trust, security agreements; SBA application (SBA Form 1919 and any other application documents); any SBA Form(s) 159; and any SBA Environmental Indemnification Agreement.

SOP 50 10 8.1, Appendix 11: Record Retention Requirements > 7(a) Lenders: (lines 4874-4877)✓ Verified

Have a deal in mind?

Tell us about it and we will tell you how these rules apply, and which lenders finance deals like yours.

See if your deal qualifies →Broker or lender? Ask the SOP your own question