For SBA lenders
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.
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.
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.
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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