April 6, 2021
SBA Hot Topic Tuesday – Changes to Accessing and Completing SBA Form 159 Effective Immediately
Last Friday, the SBA’s Office of Performance and System Management (OPSM) announced changes to the access and completion of Form 159 (“Fee Disclosure Form and Compensation Agreement”). Form 159 is a required disclosure form that borrowers or lenders must complete to report any fees paid to Third Party Agents for assisting with an SBA Loan application. As of April 5, 2021, users will now access complete, and digitally submit Form 159 within the SBA’s Capital Access Financial System (CAFS).
To promote greater standardization and data integrity, the process for submission will no longer support receipt of Form 159 via the Fiscal Transfer Agent inbox. Instead, OPSM outlines the following steps for completion of Form 159:
1. Access Form 159
Go to https://caweb.sba.gov/ and login to your CAFS Account. Then, navigate to the loans drop-down menu in the top left corner and select either “ETRAN Origination” or “ETRAN Servicing” depending on the loan’s approval status.
2. Find Form 159
Navigate to “search” at the top of the screen. Search for the applicable loan, and then click on its application number or loan number. The selected loan will populate the screen. When asked if the loan application involved an agent, click “yes” and then “Save” at the bottom of the screen (if you do not click “Yes,” Form 159 will not appear). After clicking save. Select “New Agent.”
3. Complete Form 159
Within Form 159, you will be prompted to fill out information about the business, the agent, and the associated fees. Be sure to enter the amount paid in the appropriate box depending on the type of service used. The fee should only have been paid by an applicant or lender, not both. If the amount paid exceeds $2,500, you will also be prompted to upload supporting documentation using the “upload document” button at the bottom of the screen. After completing the form, review it for accuracy and then click “Save.”
4. Check, Retain and Complete Form 159
Print, save, and retain Form 159 for your records, then click “Save/Next” to complete the process. If you would like to upload the signed version of the form, utilize the “Upload Document” function.
For additional help accessing and completing form 159, contact the SBA via email at: Form159@sba.gov.