{"ok":true,"canonical_url":"https://dealroom.so/for-lenders/questions/what-is-the-specific-purpose-of-sba-form-912-and-who-must-complete-it-for-eligibility","api_url":"https://dealroom.so/api/public/questions/what-is-the-specific-purpose-of-sba-form-912-and-who-must-complete-it-for-eligibility","question":"What is the specific purpose of SBA Form 912 and who must complete it for eligibility?","topic":"Required forms","audience":"lender","bot_mode":"lender","short_answer":"SBA Form 912, the Statement of Personal History, is used to gather information about an individual's character, including criminal history, to determine eligibility. It must be completed by all principals of the applicant business.","rule":"SBA eligibility includes character requirements. Form 912 requires disclosure of arrests, convictions, paroles, and bankruptcies. Any 'yes' answers typically trigger additional review by the SBA. Principals required to complete the form include all owners with 20% or more equity, officers, directors, managing members, and other key management personnel. This ensures that individuals associated with the business meet SBA's character standards.","example":"A loan applicant has three owners: 40%, 30%, and 30%. All three owners must complete and sign SBA Form 912. If the 40% owner disclosed a prior felony conviction, the lender must provide details and the SBA will review to determine if it impacts eligibility.","what_lenders_check":"Lenders must ensure all applicable principals complete Form 912 accurately. Failure to collect or properly address issues raised in Form 912 can lead to eligibility denial or severe guaranty repair/denial, as it directly relates to character and eligibility.","required_facts":["Statement of Personal History","Character eligibility","Criminal history","All principals","20% owners"],"source_families":["SBA Form 1919 - Borrower Information Form","SOP 50 10 - Lender and Development Company Loan Programs","Criminal Justice Reviews for SBA Business Loan Programs - Final Rule"],"official_sources":[{"title":"SBA Form 1919 - Borrower Information Form","url":"https://www.sba.gov/sites/default/files/2025-03/2025.02.27%20Form%201919%20-%20Updates%20%28FINAL%29_03-12-2025%20%281%29.pdf"},{"title":"SOP 50 10 - Lender and Development Company Loan Programs","url":"https://www.sba.gov/sites/default/files/2025-05/SOP%2050%2010%208%20Technical%20Updates%20effective%206.1.2025.docx"},{"title":"Criminal Justice Reviews for SBA Business Loan Programs - Final Rule","url":"https://www.federalregister.gov/documents/2024/04/30/2024-09009/criminal-justice-reviews-for-the-sba-business-loan-programs-disaster-loan-programs-and-surety-bond"}],"related_questions":[{"question":"Which additional SBA forms are universally required for all 7(a) loan applications, beyond the borrower information form?","url":"https://dealroom.so/for-lenders/questions/which-additional-sba-forms-are-universally-required-for-all-7-a-loan-applications-beyond-t"},{"question":"What specific certifications on SBA Form 1919 are critical for an applicant's eligibility, and how does a lender verify them?","url":"https://dealroom.so/for-lenders/questions/what-specific-certifications-on-sba-form-1919-are-critical-for-an-applicant-s-eligibility-"},{"question":"Is SBA Form 1920 (Lender's Application for Guaranty) still required for 7(a) loan submissions?","url":"https://dealroom.so/for-lenders/questions/is-sba-form-1920-lender-s-application-for-guaranty-still-required-for-7-a-loan-submissions"},{"question":"What is the primary purpose of SBA Form 1919 for eligibility?","url":"https://dealroom.so/for-lenders/questions/what-is-the-primary-purpose-of-sba-form-1919-for-eligibility"},{"question":"Beyond Form 1919, which other SBA forms are strictly mandatory for all 7(a) loan applications, regardless of loan size?","url":"https://dealroom.so/for-lenders/questions/beyond-form-1919-which-other-sba-forms-are-strictly-mandatory-for-all-7-a-loan-application"},{"question":"Which specific eligibility certifications are collected on SBA Form 1919 that are crucial for a 7(a) loan application and must be verified by the lender?","url":"https://dealroom.so/for-lenders/questions/which-specific-eligibility-certifications-are-collected-on-sba-form-1919-that-are-crucial-"}],"related_terms":[{"term":"SBA Form 912","url":"https://dealroom.so/glossary/sba-form-912"},{"term":"SBA Form 148","url":"https://dealroom.so/glossary/sba-form-148"},{"term":"Complete Change of Ownership","url":"https://dealroom.so/glossary/complete-change-of-ownership"},{"term":"Cancellation of the SBA guaranty","url":"https://dealroom.so/glossary/cancellation-of-the-sba-guaranty"},{"term":"SBA Form 1919 Disclosure","url":"https://dealroom.so/glossary/sba-form-1919-disclosure"},{"term":"Specific Lien","url":"https://dealroom.so/glossary/specific-lien"}],"related_tools":[{"name":"SBA 7(a) payment & fee calculator","url":"https://dealroom.so/sba-7a/calculator"},{"name":"Find an active SBA 7(a) lender","url":"https://dealroom.so/lenders"}],"data_freshness":{"last_reviewed":"2026-06-13","sba_rule_sources_checked_through":"2026-06-13"},"citation":{"label":"DealRoom.so SBA 7(a) Q&A","url":"https://dealroom.so/for-lenders/questions/what-is-the-specific-purpose-of-sba-form-912-and-who-must-complete-it-for-eligibility","source_type":"DealRoom Q&A"},"caveats":["Grounded in the current SBA rulebook; verify against official sources before relying on it for a live deal.","Not legal, tax, or financial advice and not an approval decision."]}