For SBA lenders
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.
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.
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.
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
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.
More on required forms
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