{"ok":true,"canonical_url":"https://dealroom.so/for-lenders/questions/when-must-an-applicant-update-their-sba-form-1919-borrower-information-form-during-underwr","api_url":"https://dealroom.so/api/public/questions/when-must-an-applicant-update-their-sba-form-1919-borrower-information-form-during-underwr","question":"When must an applicant update their SBA Form 1919, Borrower Information Form, during underwriting?","topic":"Required Forms","audience":"lender","bot_mode":"lender","short_answer":"An applicant must update their SBA Form 1919 if there are material changes to the information provided, such as ownership, citizenship, criminal history, or financial situations, prior to loan closing.","rule":"SBA Form 1919 captures critical eligibility and character information. If any of the information changes materially during the underwriting process (e.g., a principal's ownership percentage changes, a new owner is introduced, or a new criminal charge occurs), the applicant must notify the lender, and a revised or updated Form 1919 must be submitted to reflect the accurate current status.","example":"A borrower initially states they have no prior felony convictions on Form 1919. During underwriting, they are charged with a new felony offense. The lender must require an updated Form 1919 disclosing the new charge and re-evaluate eligibility, as the initial form is no longer accurate.","what_lenders_check":"Lenders must ensure that all information on SBA Form 1919 remains accurate up to the point of closing. Failure to capture and address material changes can lead to eligibility issues, character concerns, and ultimately, a repair or denial of the SBA guaranty. Lenders should have a process for periodic re-verification.","required_facts":["SBA Form 1919","Material changes","Updated information","Eligibility impact","Prior to closing"],"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 individuals must complete SBA Form 413 and how does it inform credit decisions?","url":"https://dealroom.so/for-lenders/questions/which-individuals-must-complete-sba-form-413-and-how-does-it-inform-credit-decisions"},{"question":"How does SBA Form 1919 ensure borrower eligibility compliance for a 7(a) loan?","url":"https://dealroom.so/for-lenders/questions/how-does-sba-form-1919-ensure-borrower-eligibility-compliance-for-a-7-a-loan"},{"question":"What is the primary purpose of SBA Form 1919 and how does a lender use it in 7(a) underwriting?","url":"https://dealroom.so/for-lenders/questions/what-is-the-primary-purpose-of-sba-form-1919-and-how-does-a-lender-use-it-in-7-a-underwrit"},{"question":"What is the significance of the \"Statement of Personal History\" section on SBA Form 1919 for eligibility?","url":"https://dealroom.so/for-lenders/questions/what-is-the-significance-of-the-statement-of-personal-history-section-on-sba-form-1919-for"},{"question":"Which SBA forms are mandatory for every 7(a) loan application?","url":"https://dealroom.so/for-lenders/questions/which-sba-forms-are-mandatory-for-every-7-a-loan-application"},{"question":"What is the purpose of collecting borrower certifications on SBA Form 1919?","url":"https://dealroom.so/for-lenders/questions/what-is-the-purpose-of-collecting-borrower-certifications-on-sba-form-1919"}],"related_terms":[{"term":"Form 1919","url":"https://dealroom.so/glossary/form-1919"},{"term":"SBA Form 1919 Disclosure","url":"https://dealroom.so/glossary/sba-form-1919-disclosure"},{"term":"Applicant","url":"https://dealroom.so/glossary/applicant"},{"term":"SBA Form 148","url":"https://dealroom.so/glossary/sba-form-148"},{"term":"SBA Form 912","url":"https://dealroom.so/glossary/sba-form-912"},{"term":"Required guarantor","url":"https://dealroom.so/glossary/required-guarantor"}],"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-must-an-applicant-update-their-sba-form-1919-borrower-information-form-during-underwr","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."]}