Glossary · People and paperwork
In short
These are investigations into your personal history, including credit, criminal, and sometimes educational or employment records. Buyers care because lenders conduct these to assess your eligibility and trustworthiness for an SBA loan.
Every owner with 20% or more equity will undergo these checks, using forms like SBA Form 1919. Lenders look for indicators of good character, such as a strong credit report, absence of serious criminal history, and no previous federal debarments. Be prepared to provide all requested information accurately.
13 CFR Part 120 — Business Loans
Office of the Federal Register · Federal regulation
SBA Form 1919 — Borrower Information Form
U.S. Small Business Administration · SBA form
Last checked 2026-06-15. Official sources control — verify before relying on any rule for a live deal.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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