Important Message for Lenders! New Application Process for SBA Loans

Release Date: 
Tuesday, January 7, 2014
Contact: 
vanessa.klein@sba.gov

Effective January 1, 2014, the U. S. Small Business Administration is using Forms 1919 and 1920 for all 7a Loan applications (except for the Export Working Capital Program which uses SBA Form 84-1) and will no longer accept guaranteed loan applications using SBA Form 4 or 2301. The revised versions of:

1. Borrower’s Application
 

As a reminder, other procedures that lenders must also complete as a part of the loan guaranty application process include:

2. Delegated lenders are responsible for ensuring that small business loan applicants (including any affiliates) and guarantors do not have an outstanding delinquency or a prior loss on a federal loan and can check this information through Credit Alert Verification Reporting System (CAIVRS). Instructions on how to access the system is available in the CAIVRS FAQs.
3. The IRS verification process (IRS Form 4506: Request for Transcript of Tax Return) must be completed prior to the submission of the application to the Loan Guaranty Processing Center (LGPC). For delegated lenders, the IRS verification process must be completed prior to the first disbursement.

 

If you have questions or need assistance, please contact a Wichita District Office Lender Relations Specialist: Vanessa Klein, Doug Clary, Janelle Jones, or Karol Ikeda at (316) 269-6571. 

Related State: 
Kansas