{"ok":true,"canonical_url":"https://dealroom.so/for-lenders/questions/when-is-sba-form-912-statement-of-personal-history-specifically-required-for-7-a-loan-appl","api_url":"https://dealroom.so/api/public/questions/when-is-sba-form-912-statement-of-personal-history-specifically-required-for-7-a-loan-appl","question":"When is SBA Form 912, Statement of Personal History, specifically required for 7(a) loan applicants?","topic":"Required forms","audience":"lender","bot_mode":"lender","short_answer":"SBA Form 912 is required for all individuals owning 20% or more of the applicant business, and for any other individuals actively involved in the business's management, to assess character eligibility.","rule":"The SBA mandates Form 912 to gather detailed personal history information, including criminal records, prior bankruptcies, and defaults on federal debt, for all principals. This is a crucial step in assessing the character eligibility of individuals associated with the applicant business.","example":"A business has three owners, 25%, 30%, and 45% stakes, respectively. The lender must ensure all three owners complete and sign SBA Form 912 as part of the loan application package, along with Form 1919.","what_lenders_check":"Lenders must ensure all required individuals complete Form 912 accurately and completely. Incomplete or undisclosed information can lead to eligibility issues or guaranty denial.","required_facts":["SBA Form 912","Personal history","20% owner","Character eligibility","Management involvement"],"source_families":["SOP 50 10 - Lender and Development Company Loan Programs","SBA Form 1919 - Borrower Information Form","Criminal Justice Reviews for SBA Business Loan Programs - Final Rule"],"official_sources":[{"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":"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":"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":"Statement of Personal History","url":"https://dealroom.so/glossary/statement-of-personal-history"},{"term":"SBA 7(a) loan","url":"https://dealroom.so/glossary/sba-7-a-loan"},{"term":"Personal History Statement","url":"https://dealroom.so/glossary/personal-history-statement"},{"term":"7(a) loan","url":"https://dealroom.so/glossary/7a-loan"},{"term":"SBA 7(a) Loan Program","url":"https://dealroom.so/glossary/sba-7-a-loan-program"}],"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/when-is-sba-form-912-statement-of-personal-history-specifically-required-for-7-a-loan-appl","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."]}