Sba Form 159d - Fee Disclosure Form And Compensation Agreement For Agent Services In Connection With An Sba Disaster Assistance Loan

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OMB Control No: 3245-0201
Expiration Date: 10/31/2017
FEE DISCLOSURE FORM AND COMPENSATION AGREEMENT
For Agent Services In Connection With an SBA Disaster Assistance Loan
POLICIES AND REGULATIONS CONCERNING REPRESENTATIVES AND THEIR FEES
Purpose of this form: Section 13 of the Small Business Act requires that an SBA disaster loan applicant
(“Applicant”) identify the names of persons engaged by or on behalf of the Applicant for the purpose of
expediting the application and the fees paid or to be paid to any such person. 13 C.F.R., Part 103.5 requires any
agent or packager to execute and provide to SBA a compensation agreement (“Agreement”). SOP 50-30,
Appendix 14 defines how the reasonableness of fees may be determined. Each Agreement governs the
compensation charged for services rendered or to be rendered to the Applicant in any matter involving SBA
assistance. “Agent” includes a loan packager, accountant, attorney, consultant, engineer, architect, appraiser, or
any other party that receives compensation from representing an Applicant for an SBA disaster loan.
SBA does not require an Applicant to engage the services of any Agent to file an application or close a loan. No
fees or compensation will be reimbursed or paid by SBA to any Agent. If an Applicant chooses to employ an
Agent, the compensation an Agent charges to and that is paid by the Applicant must bear a necessary and
reasonable relationship to the services actually performed and must be comparable to those charged by other
Agents in the geographical area. Compensation cannot be contingent on loan approval. In addition,
compensation must not include any expenses which are deemed by SBA to be unreasonable for services actually
performed or expenses actually incurred. Compensation must not include charges prohibited in 13 CFR 103 or
SOP 50-30, Appendix 14. If the compensation is determined by SBA to be unreasonable, the Agent must cancel
the compensation, or refund to the Applicant any portion the Applicant already paid. In cases where SBA deems
the amount of compensation unreasonable, the Agent must reduce the compensation to an amount SBA deems
reasonable, refund to the Applicant any sum in excess of the amount SBA deems reasonable, and refrain from
charging or collecting directly or indirectly from the Applicant an amount in excess of the amount SBA deems
reasonable. Violation by an Agent of any of these rules may result in SBA’s suspension or revocation of the
Agent’s privilege of conducting business with SBA.
The following are not considered Agents for purposes of this Agreement and, therefore, are not required to
complete this Agreement: 1) Applicant’s accountant for the preparation of financial statements or tax returns
required by the Applicant in the normal course of business and not related to the loan application; 2) Any
professional retained by Applicant for services required by the Applicant in the normal course of business and not
related to the application or loan closing. Direct costs associated with document preparation in connection with
the loan closing do not need to be reported in this Agreement.
Instructions on completion of this form: This form must be completed in connection with a loan application if
the Applicant has paid (or will be paying) compensation to an Agent in excess of the following amounts:
$500 for a disaster home loan
$2500 for a disaster business loan
If the compensation exceeds these amounts, the Agent must provide an itemization and justification of the
services performed.
There must be a completed Agreement for each Agent compensated by the Applicant. If the certifications are
made by a legal entity other than an individual (e.g., corporation, limited liability company), execution of the
certification must be in the legal entity’s name by a duly authorized officer or other representative of the entity; if
by a partnership, execution of the certification must be in the partnership’s name by a general partner.
PLEASE NOTE: The estimated burden for completion of this Form 159D is 5 minutes per response. You are not required to respond to this information collection
unless it displays a currently valid OMB approval number. Comments on the burden should be sent to U.S. Small Business Administration, Chief, Administrative
Information Branch, Washington, D.C. 20416, and Desk Officer for SBA, Office of Management and Budget, New Exec. Office Building, Room 10202, Washington,
D. C. 20503. (3245-0201). PLEASE DO NOT SEND FORMS TO OMB.
SBA Form 159D (7-05) Ref SOP 50 30 Previous edition of SBA 159 obsolete
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