What is SBA Form 912, and Do You Need to Complete It? | Fora Financial
What is SBA Form 912, and Do You Need to Complete It?
October 21, 2020

What is SBA Form 912, and Do You Need to Complete It?

SBA Form 912 – Statement of Personal History, is a document that the Small Business Administration (SBA) uses to evaluate individuals’ character and credit eligibility who’re applying for an SBA loan. Understandably, the SBA wants to lend money to individuals who are of good moral standing that they can trust.

Since this form is part of the assessment of your eligibility for all types of SBA loans, familiarizing yourself with this document is critical. This is especially the case now, as your business likely needs funding to overcome challenges presented by the COVID-19 pandemic.

If you’re currently in the process of applying for an SBA loan, keep reading to learn more about SBA Form 912 so that you can determine what’s needed to complete it.

Everything You Need to Know About SBA Form 912:

Do I Need to Complete SBA Form 912?

Any small business owner who’s applying for an SBA loan could be required to fill out this form. However, if you don’t have a criminal record or any sort of criminal history, you may not be asked to complete it.

That said, different lenders have their own procedures, so while one lender may require you to complete SBA Form 912, another might not. In addition, if you’re seeking the SBA’s most popular loan options (SBA 7a and SBA 504), you’ll definitely be required to complete it.

If you’re unsure about whether you’ll need to submit form 912, you should ask your lender if they require the form, so that you’ll be prepared if necessary.

In addition, keep in mind that certain people in your company could be required to complete it as well. Here’s who the SBA says must fill out the form, depending on your business structure:

  • For a sole proprietorship, only the owner will need to complete the form.
  • If you’re in a partnership, all general partners, any limited partner with 20 percent or more equity, and any partner involved in managing the business will be asked to fill out form 912.
  • If you own a corporation, then all owners who have 20 percent or more of the corporation will need to complete the form. In addition, every officer and director will need to complete the form as well.
  • For limited liability companies (LLCs), all members who own 20 percent or more of the company, each officer, director, and managing member will be asked to submit the form.
  • Any person hired by the business to manage day-to-day operations.
  • Any trustor if the business is owned by a trust.
  • Any individual acting as a loan guarantor


What Information is Included on Form 912?

If you’d like, you can view Form 912 on the SBA website prior to submitting it. Although the form is important for assessing your program eligibility, it’s relatively short. You’ll have to provide a few personal details about yourself (such as if you’re a United States citizen), your ownership percentage, your social security number, and your lender’s information. You’ll also be asked to include the loan amount that you applied for.

Next, you’ll need to provide the following details about your criminal history:

  1. If any formal criminal charges are currently being brought against you.
  2. If you’ve been arrested in the past six months for a criminal offense.
  3. If you’ve been convicted, plead guilty or no contest, been placed on parole, or pretrial diversion.

How Should I Answer Criminal History Questions on Form 912?

Of course, you should answer questions regarding your criminal history truthfully, even if you don’t think that it’s pertinent to your role as a business owner. Any personal information you provide can be verified, so being dishonest will result in your loan application being denied. According to Form 912, you may also face criminal charges for lying on your application.

If you answer “yes” to any of these questions, you’ll need to provide supporting documentation including dates, location, fines, sentences, court documentation, and other information about the crime or criminal charges. Also, depending on your answers, you may be required to submit a background check.

It’s important to note that if you answer “yes” to question #7 on this form, you’ll be immediately disqualified from receiving an SBA loan. This is because the SBA doesn’t supply loans to individuals who are currently on probation or parole.

Conclusion: Be Honest and Thorough When Completing SBA Form 912

If you have a criminal history, don’t let the Form 912 prevent you from applying for a loan. A criminal history won’t automatically disqualify you from SBA loan programs, unless you’re presently on probation or parole. Of course, answering yes to any questions on Form 912 reduces your chances of qualifying, but your application won’t be automatically denied.

In addition to SBA financing, your business may benefit from pursuing other funding options. To learn more about small business loan options, click here.

Editor’s Note: This post was updated for accuracy and comprehensiveness in October 2020.

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at [email protected].