Glossary · People and paperwork
In short
This refers to a formal declaration by a court that an individual is guilty of a criminal offense. Buyers care because certain convictions can make you ineligible for an SBA loan, impacting your ability to secure financing.
The SBA requires disclosure of past criminal convictions for all key principals on Form 1919. Certain felonies or crimes involving fraud, dishonesty, or breach of trust can disqualify you. Be transparent and consult legal counsel if you have concerns about your background.
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.
Know what you'll need before you apply
Tell us about the deal and who's buying — we'll flag the guaranty, eligibility, and paperwork issues that slow SBA approval before they cost you time.
Free · No documents · Usually same-day