For SBA lenders
Short answer
SBA Form 912 is required for any individual providing a personal guaranty, regardless of their ownership stake, if they are providing an unlimited guaranty or their ownership is 20% or more.
While Form 1919 covers owners and key management, Form 912 (Statement of Personal History) is specifically required for all individuals providing an unlimited personal guaranty on an SBA 7(a) loan, or who own 20% or more of the business. This form collects critical character information, including criminal history and prior government debt defaults, to assess eligibility.
A 7(a) loan borrower's spouse, who owns 10% of the business, is required to provide an unlimited personal guaranty. Even though they own less than 20%, the lender still requires the spouse to complete and sign an SBA Form 912 because they are providing an unlimited personal guaranty.
Insider move
Lenders must identify all individuals required to complete Form 912. Failure to obtain this form from a required guarantor, or discrepancies in the information provided, can lead to eligibility issues and jeopardize the SBA guaranty.
SOP 50 10 - Lender and Development Company Loan Programs
Last checked 2026-06-13. Official sources control — verify before relying on any rule for a live deal.
Last reviewed 2026-06-13 · SBA sources checked through 2026-06-13. DealRoom analysis of public SBA 7(a) lending records (FY2020–present). Grounded in the current SBA rulebook; verify against the official sources above before relying on it for a live deal. Not legal, tax, or financial advice, and not an approval decision.
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