Breaking News — SBA Releases Updated SBA 1919, 1920, Other Forms
October 13, 2017
By Bob Coleman
Editor, Coleman Report
Breaking News — SBA Releases Updated SBA 1919, 1920, Other Forms
Effective 10/12/17.
The forms and the SBA notice are attached.
SBA One users can continue to use the forms generated thru SBA One (Old version) until SBA One is updated .
The updated new SBA 7(a) forms:
Updated for SBA 7(a) and 504:
Community Advantage Forms
Changes to SBA Form 1919 include:
- A separate Instruction and Definition cover page
- The division of the form into Section 1 to be completed by the Applicant or co-Applicant
- Section 2 to be completed by Associates and principals of the Applicant
- General updates to align the form with current SOP 50 10 requirements.
Changes to SBA Form 1920 include:
- Modified the general format to be visually practical and provide clarity;
- A new Sources and Uses table with details on total project costs;
- Grouped together questions associated with the same SBA Loan Program Requirement;
- Added alternate contact information, pricing (split pricing and rate changes)
- Requirements for 7(a) Small Loan processing
- Confirmation the SBA Lender received and reconciled applicable tax return transcripts
- Removed questions relating to business valuations and construction that were not pertinent to determining eligibility.