Posts tagged SBA Form 413
What Are the Fees for the SBA 504 Loan?

A wide range of fees are charged in the 504 loan process. However, all of these fees are rolled into the loan in order to limit your upfront cash contribution requirements. The most common fees that you will be charged include SBA guarantee fees, funding fees, CDC processing fees, underwriting fees, and servicing fees.

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What Is SBA Form 159?

SBA form 159, the Fee Disclosure and Compensation Agreement, is necessary for reporting the fees being paid during an SBA loan transaction. It is a safety net designed to help prevent lenders from paying fees to other parties at your expense. This form is a binding document that spells out what fees are being charged to whom and to whom those monies are being paid.

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What Is SBA Form 912?

SBA form 912 is a statement of personal history, and is one of several forms used by the SBA to help assess your character and your creditworthiness. According to the SBA, they “use form 912 as one part of the assessment of program eligibility.” Further, they use “this form to make a character and credit eligibility decision to fund or deny a loan.” All business owners (owners of any percentage of the business) must complete this form. It can be downloaded here.

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What Is SBA Form 413?

SBA form 413 is required when applying for both SBA 504 and SBA 7(a) loans, and is a personal financial statement. According to the SBA, “The SBA uses the information required by the form 413 as one of a number of data sources in analyzing the repayment ability and credit worthiness of an application for an SBA guaranteed 7(a) or 504 loan or a guaranteed surety.” You can download this form here.

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