Sba Form 1244 - U.s. Small Business Administration Application For Section 504 Loans Page 8
Download a blank fillable Sba Form 1244 - U.s. Small Business Administration Application For Section 504 Loans in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Sba Form 1244 - U.s. Small Business Administration Application For Section 504 Loans with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13U.S. SMALL BUSINESS ADMINISTRATION
PART C
Statements Required by Law and Executive Order
Federal executive agencies, including the Small Business Administration (SBA), are required to withhold or limit financial assistance, to
impose special conditions on approved loans, to provide special notices to applicants or borrowers and to require special reports and data
from borrowers in order to comply with legislation passed by the Congress and Executive Orders issued by the President and by the
provisions of various inter-agency agreements. SBA has issued regulations and procedures that implement these laws and executive orders,
and they are contained in Parts 112, 113, 116, and 117, Title 13, Code of Federal Regulations Chapter 1, or Standard Operating Procedures.
Freedom of Information Act (5 U.S.C. 552)
This law provides, with some exceptions, that SBA must supply information reflected in agency files and records to a person requesting it.
Information about approved loans that will be automatically released includes, among other things, statistics on our loan programs (individual
borrowers are not identified in the statistics) and other information such as the names of the borrowers (and their officers, directors,
stockholders or partners), the collateral pledged to secure the loan, the amount of the loan, its purpose in general terms and the maturity.
Proprietary data on a borrower would not routinely be made available to third parties. All requests under this Act are to be addressed to the
nearest SBA office and be identified as a Freedom of Information request.
Privacy Act (5 U.S.C. 552a)
A person can request to see or get copies of any personal information that SBA has in his or her file when that file is retrieved by individual
identifiers such as name or social security numbers. Requests for information about another party may be denied unless SBA has the written
permission of the individual to release the information to the requestor or unless the information is subject to disclosure under the Freedom of
Information Act.
Under the provisions of the Privacy Act, you are not required to provide your social security number. But see Debt Collection notice below.
Disclosures of name and other personal identifiers are, required for a benefit, as SBA requires an individual seeking assistance from SBA to
provide it with sufficient information for it to make a character determination. In determining whether an individual is of good character,
SBA considers the person’s integrity, candor, and disposition toward criminal actions. In making loans pursuant to section 7(a)(6) of the
Small Business Act (the Act), 15 USC Section 636(a)(6), SBA is required to have reasonable assurance that the loan is of sound value and
will be repaid or that it is in the best interest of the Government to grant the assistance requested. Additionally, SBA is specifically
authorized to verify your criminal history, or lack thereof, pursuant to section 7(a)(1)(B), 15 USC Section 636(a)(1)(B). Further, for all forms
of assistance, SBA is authorized to make all investigations necessary to ensure that a person has not engaged in acts that violate or will
violate the Act or the Small Business Investment Act, 15 USC Sections 634(b)(11) and 687(b)(a). For these purposes, you are asked to
voluntarily provide your social security number to assist SBA in making a character determination and to distinguish you from other
individuals with the same or similar name or other personal identifier.
The Privacy Act authorizes SBA to make certain “routine uses” of information protected by that Act. One such routine use for SBA’s loan
system of records is that when this information indicates a violation or potential violation of law, whether civil, criminal, or administrative in
nature, SBA may refer it to the appropriate agency, whether Federal, State, local or foreign, charged with responsibility for or otherwise
involved in investigation, prosecution, enforcement or prevention of such violations. Another routine use of personal information is to assist
in obtaining credit bureau reports, including business credit reports on the small business borrower and consumer credit reports and scores on
the principals of the small business and guarantors on the loan for purposes of originating, servicing, and liquidating small business loans and
SBA-21, Loan System, at 74 FR 14890 (April
for purposes of routine periodic loan portfolio management and lender monitoring. See,
1, 2009) as amended by notices published at 77 FR 15835 (3/16/2012) and 77 FR 61467 (10/9/2012)
for additional background and
other routine uses.
Right to Financial Privacy Act of 1978 (12 U.S.C. 3401)
This is notice to you as required by the Right of Financial Privacy Act of 1978, of SBA's access rights to financial records held by financial
institutions that are or have been doing business with you or your business, including any financial institutions participating in a loan or loan
guarantee. The law provides that SBA shall have a right of access to your financial records in connection with its consideration or
administration of assistance to you in the form of a Government loan or loan guaranty agreement. SBA is required to provide a certificate of
its compliance with the Act to a financial institution in connection with its first request for access to your financial records, after which no
further certification is required for subsequent accesses. The law also provides that SBA's access rights continue for the term of any approved
loan or loan guaranty agreement. No further notice to you of SBA's access rights is required during the term of any such agreement.
The law also authorizes SBA to transfer to another Government authority any financial records included in an application for a loan, or
concerning an approved loan or loan guarantee, as necessary to process, service or foreclose on a loan or loan guarantee or to collect on a
defaulted loan or loan guarantee. No other transfer of your financial records to another Government authority will be permitted by SBA
except as required or permitted by law.
SBA Form 1244 (09-16) Previous editions obsolete
Page 8 of 13
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Business