Glossary · People and paperwork
In short
This mandatory form, also known as the Statement of Personal History, requires all principals of an SBA loan applicant to disclose personal background information, including criminal history and past federal debt defaults.
You and any other key principals must complete this form accurately. Any past felonies, bankruptcies, or defaults on federal debt must be disclosed. Undisclosed issues can lead to loan denial or, worse, accusations of fraud or misrepresentation later.
13 CFR Part 120 — Business Loans
Office of the Federal Register · Federal regulation
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