However, if you do it alone, it is essential to make sure that you have all the form you need and that they are all properly filled out. We will specifically follow the SBA 159 form so that you are sure to process this specific part of your SBA loan application. (And a note: once you`re done here, we can also help you with the SBA 912 form – but one thing at a time!) Here`s everything you need. Write down the name of the agent you used next to Services Performed by. In addition to the Contact Person agent, enter the full name of the person you worked with. Then indicate your agent`s mailing address next to the Address agent. The loan applicant (probably you), your representative and your lender all have a section to fill out this form. As we`ve said before, the SBA reports that there are a lot of errors, so if someone else fills out a section for you, be sure to check it before sending it. To minimize errors associated with ambiguous spelling, you need to enter the information directly into the form using a PDF reader like Adobe Reader. If you use Chrome, the form can be automatically opened on a new tab and contains fields that you can enter. If not, fill out the form neatly by hand in dark ink.
Form SBA 159 contains details of where you received your assistance and how much you paid. This way, SBA can be sure that you will not be scammed. There are few things you can count on as a small entrepreneur – but one thing that`s for sure is the paperwork, especially if you`re applying for an SBA loan. Applications for these coveted commercial loans not only require a long list of documents from your personal financial documents, but also contain their own specific forms. This includes the SBA 159 form you need to get your SBA loan approved and signed. If you make sure that all this information – your agent`s names and business information, the fees, especially your SBA credit number – are correct, make sure you fill out Form 159 only once, and make sure the rest of the process goes smoothly. This form is not complicated. But knowing if you need it can be a little difficult. After you sign the form, pass it on to your agent. Let your agent`s representative read the agent`s certifications and have them sign and print their names. The representative`s representative should write the date and the professional title.
Form 159 is for all entrepreneurs applying for an SBA 7 (a) or 504 program. Until recently, each program had its own form, but the SBA combined the two in November 2018.