Glossary · People and paperwork
In short
A record of past criminal convictions for you or any key principal in the business. This is a critical eligibility factor for an SBA 7(a) loan.
The SBA requires disclosure of criminal history for all owners with 20% or more equity, and any key principals. Certain felony convictions, especially those involving fraud or financial misconduct, can make you ineligible for an SBA loan. Be upfront and honest on SBA Form 1919 about any past issues.
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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