SBA Loan Documentation: The Complete Application + Underwriting + Closing Paperwork Guide

SBA Loan Documentation is the full set of forms, supporting evidence, lender-completed package items, and closing documents used to standardize, verify, and document an SBA-guaranteed loan from intake through funding.

SBA loans are made by lenders (not directly by SBA), but SBA requires specific documentation and file retention, especially around borrower representations, fees, disbursement, and eligibility checks.

1) Borrower Documentation: What you submit to an SBA Lender at application

Below is the “core” borrower submission set most SBA lenders collect at intake, plus the SBA forms you asked to include.

A. SBA forms borrowers commonly complete (by program / scenario)

SBA Form 1919 — Borrower Information Form (7(a))

Used by 7(a) applicants to provide borrower/owner info, loan request details, existing debt, prior government financing, and other disclosures; SBA notes it also facilitates background checks authorized by the Small Business Act.

SBA Form 413 — Personal Financial Statement

Used to assess repayment ability and creditworthiness across multiple SBA programs (including 7(a) and 504).

SBA Form 912 and/or SBA Form 1081 — Statement of Personal History (character/eligibility)

SBA posts both forms as “Statement of Personal History.”

• Form 912 is SBA’s statement of personal history form. :contentReference[oaicite:3]{index=3}
• Form 1081 is used by SBA “to determine the eligibility of an individual to participate in SBA Loan Programs.”

Which one you’ll be asked to complete depends on the program and the lender/SBA’s current character/eligibility workflow.

SBA Form 148 — Unconditional Guarantee (typically at closing, but often disclosed early)

SBA posts Form 148 as an “Unconditional Guarantee” and states individuals who own 20% or more of a small business applicant must provide an unlimited personal guaranty; lenders may use this form.

SBA Form 4506-C — IRS transcript request authorization (often requested as part of tax verification)

Form 4506-C is an IRS “IVES Request for Transcript of Tax Return.” IRS explains taxpayers can authorize a lender to request a tax transcript using Form 4506-C.

SBA hosts a pre-filled 4506-C for its Disaster programs (and many SBA lenders use transcript verification tools/workflows as part of financial verification).

B. Supporting documents lenders typically require from borrowers (the “evidence file”)

Even when SBA has standard forms, lenders still need third-party and borrower-generated documentation to verify and confirm the story in the application:

Identity / ownership / entity

• Government ID for principals (and evidence of lawful status when applicable)
• Articles of incorporation/organization, operating agreement/bylaws
• EIN letter, business licenses
• Ownership schedule/cap table; affiliate information (if relevant)

Financial history

• Business federal tax returns (commonly 2–3 years, if available)
• Personal federal tax returns for required guarantors (commonly 2–3 years)
• Year-to-date interim financials (P&L and balance sheet)
• Debt schedule (business and sometimes personal)
• Business bank statements (often recent 2–6 months, lender-specific)

Use-of-proceeds / deal documents (as applicable)

• Purchase agreement (business acquisition or real estate)
• Lease (if leasing space) or draft lease (if EPC/OC structure)
• Construction budgets, contractor bids, permits (for build-outs/construction)
• Equipment quotes/invoices
• Franchise agreement + SBA franchise documentation (if applicable)

Management + plan

• Resumes for owners/key managers
• Business plan and projections (especially for startups/acquisitions)

Third-party reports (often ordered by lender, but borrower pays)

• Appraisal (real estate-heavy requests)
• Environmental investigation (where required) SBA’s loan closing guidance explicitly calls out environmental and appraisal items in the closing workflow.

2) Lender Documentation: What the lender must complete (and what they retain/submit)

SBA lenders complete documents that (a) generate SBA’s guaranty conditions and (b) create the permanent loan file.

A. Lender application / submission items

SBA Form 1920 — Lender’s Application for Guaranty (retired)

SBA’s own form page states “SBA Form 1920 has been retired as of August 1, 2023” and remains posted for reference only.

What replaced it in practice: SBA modernized lender workflows so lenders can generate a “Terms and Conditions (Ts&Cs)” document from E-Tran data. SBA describes that lenders can generate a Ts&Cs sheet with one click using information already entered in ETRAN.

SBA Terms & Conditions / Loan Authorization package (E-Tran generated)

SBA provides lender guidance describing the Terms and Conditions (“T&C”) document (formerly Loan Authorization) and how data fields map in ETRAN.

SBA also provides authorization “file libraries” (boilerplate/templates) for standard 7(a) and 504 authorization packages.

B. Closing / file-retention items SBA expects lenders to keep

SBA’s “Loan closing” page lists specific documents lenders should retain in their files, including: Form 147 Note, Form 148 Guarantee, Form 1050 Settlement Sheet, Form 159 Fee Disclosure, Borrower Certifications, Form 155 Standby Creditor’s Agreement, Form 601 Agreement of Compliance, and IRS tax transcript/verification of financial information per current requirements.

It also identifies items lenders should submit a copy of (environmental investigation report, appraisal) and documents lenders should send to borrower (Form 722 Equal Employment Opportunity Statement).

3) Loan Closing: Legal documents borrowers must sign (and what they mean)

At closing, documentation shifts from “application/underwriting” to binding legal instruments. SBA’s loan-closing guidance highlights these core closing documents (lenders may use SBA forms or their own equivalents where allowed): }

A. The core closing package (commonly signed/executed)

• Promissory Note (SBA Form 147 or lender note)
  SBA’s closing guidance lists Form 147 as the 7(a) note (or lender’s own note). SBA’s Form 147 page explains it documents key loan information such as loan number, rate, lender, and borrower.

• Personal Guarantee (SBA Form 148, as necessary, or lender form)
  SBA’s closing guidance lists Form 148 and notes lenders can use their own guaranty agreements.

• Settlement Sheet / Use of Proceeds Certification (SBA Form 1050 or comparable)
  SBA says Form 1050 documents and verifies that proceeds were disbursed according to the Authorization and that required borrower injection occurred before disbursement.

• Fee Disclosure (SBA Form 159, as necessary)
  Form 159 is SBA’s fee disclosure and compensation agreement for use with 7(a) and 504.

• Standby Creditor Agreement (SBA Form 155, as necessary)
  Used when a creditor note is required to be on standby; SBA notes lenders may use SBA Form 155 or their own form and must attach a copy of the note to the standby agreement.

• Agreement of Compliance (SBA Form 601, as necessary for construction > $10,000)
  SBA’s Form 601 page explains it evidences compliance with Executive Order 11246 and is relevant to federally assisted construction contracting.

• Borrower Certifications (program/loan-specific)
  SBA’s closing guidance references “Borrowers Certifications” as a retained item.

B. Other legal/security documents (varies by collateral and state law)

Most SBA loans also include lender-drafted security documentation, which can include:

• Security agreement (business assets)
• UCC financing statements
• Mortgage/deed of trust (for real estate collateral)
• Assignments of leases/rents (when applicable)
• Insurance requirements/assignments (hazard, flood if required, etc.)

These instruments are highly state- and collateral-dependent, so your lender (and closing counsel) will define the final set.

SBA Form Links (official SBA pages)

SBA Form 1919 (Borrower Information Form): https://www.sba.gov/document/sba-form-1919-borrower-information-form

SBA Form 413 (Personal Financial Statement): https://www.sba.gov/document/sba-form-413-personal-financial-statement

SBA Form 912 (Statement of Personal History): https://www.sba.gov/document/sba-form-912-statement-personal-history

SBA Form 1081 (Statement of Personal History): https://www.sba.gov/document/sba-form-1081-statement-personal-history

SBA Form 148 (Unconditional Guarantee): https://www.sba.gov/document/sba-form-148-unconditional-guarantee

SBA Form 4506-C (SBA-hosted prefilled IRS 4506-C for Disaster): https://www.sba.gov/document/sba-form-4506-c-irs-form-4506-c-sba-disaster-loan

Common closing documents referenced by SBA Loan Closing guidance:

SBA Form 147 (SBA Standard Loan Note): https://www.sba.gov/document/sba-form-sba-standard-loan-note-form-147

SBA Form 1050 (Settlement Sheet / Use of Proceeds Certification): https://www.sba.gov/document/sba-form-1050-settlement-sheet-use-proceeds-certification

SBA Form 159 (Fee Disclosure and Compensation Agreement): https://www.sba.gov/document/sba-form-159-fee-disclosure-compensation-agreement

SBA Form 155 (Standby Creditor’s Agreement): https://www.sba.gov/document/sba-form-155-standby-creditors-agreement

SBA Form 601 (Agreement of Compliance): https://www.sba.gov/document/sba-form-601-agreement-compliance

SBA Form 722 (Equal Employment Opportunity Statement): https://www.sba.gov/document/sba-form-722-equal-employment-opportunity-statement

FAQ (collapsible)

SBA Loan Documentation is important to the SBA Approval and our detailed guide will help you get approved.