Sba Express Checklist

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Customer Name:
ETRAN Application Number:
SBA Loan Number:
Lender’s Loan Number:
SBA Guaranty Fee: $
SBA Express Checklist
Required Forms & Eligibility: Forms should be obtained from the SBA’s website
(
)
☐ Form 1919-Borrower Information Form - To be filled out by the customer/guarantors, 20% or more owners & anyone
hired to manage day-to-day operations of the business
☐ Form 1920 - To be filled out by the lender
☐ Form 912-Statement of Personal History (if required) – Necessary if questions 2 or 3 of Form 1919 are answered “yes”
☐ Form 601-Agreement of Compliance- if more than $10,000 in loan funds is being used for construction
☐ SBA Form 159-Fee Disclosure Forms and Compensation Agreement if necessary
o
Must be filed if an Agent is used whether the Lender or Borrower pays the agent fee or if Lender charges an
application fee
☐ Credit Alert Verification Reporting System - Review CAIVRS for Borrower & Guarantors to ensure no delinquent debt
with or prior losses to the government. A copy should be kept in the lender’s files. CAIVRS USER ID required:
https://entp.hud.gov/caivrs/public/home.html
☐ IRS 4506-T: Request for Tax Transcripts - required if tax returns are used in credit decision (note review in credit
memo/credit analysis &/or in the Lender’s Comments section of ETRAN)
☐ Check franchise registry if necessary
☐ Check
to ensure Agents & employees involved with the loan are not excluded from doing business with
the government (Lender’s staff must only be screened once)
☐ Check
to ensure Agents involved with the loan are not excluded
from doing business with the government
Credit Standards & Analysis: Credit analysis must be consistent with lender’s similarly sized non-guaranteed loan
portfolio should include
☐ Credit Elsewhere/reason for guaranty qualification addressed
Submission Process – Requesting the Guaranty
☐ Submit via ETRAN
https://eweb.sba.gov/gls/dsp_login.cfm
o
No documents submitted to SBA other than information entered into ETRAN
o
SBA Documents can be uploaded using the document upload option to save them
o
Lender Comments in ETRAN can be used to document when CAIVRS & IRS transcripts were reviewed
Closing Procedures
☐ Loan Authorization produced by the lender.
☐ Late Penalty Fee-
o
may charge the same fee as charegd on similarly sized non-SBA guaranteed loans
o
must be delinquent more than 10 days
o
SBA will not pay any portion of this fee at time of purchase
☐ Prepayment Terms
o
No lender pre-payment penalty is allowed
Subsidy Recoupment Fee/Pre-Payment Penalty –
o
o
SBA charges a Subsidy Recoupment Fee on loans with a maturity of 15 years or more (5%, 3%, 1%
of the prepayment amount if more than 25% paid in any 1 year)
☐ Print a copy of the application using the “REPORTS” button in ETRAN, sign and retain in file
☐ Print a copy of the Application Status Report using the “REPORTS” button in ETRAN and retain in the file
☐ Payment of the Guaranty fee via
☐ Begin reporting via 1502 (Colson Reporting Services) in the month following SBA issuance of a loan number (report
as fully undisbursed if not yet closed)
SBA Express Checklist
Updated 6.27.2014

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