Article by Roger Schlueter, MBA
The SPA Form 912, also called the Statement of Personal History is a form that needs to be filled out by all Borrowers and Guarantors of any SBA Loan Application. The Statement asks if the Applicant or Guarantor, have ever been Arrested, Charged, or Convicted of any Criminal Offense other than a minor vehicle violation. This information is then given to the FBI and run through their Criminal History Indices.
It is very important that this form if filled out in it’s entirety and that all questions are are reported accurately. You can download the SPA Form 912 at the following Web Address:
www.sba.gov/sites/default/files/tools_sbf_finasst912.pdf
The form starts at the top left hand side and asks general questions such as the Name and Address of Applicant (firm name and street address). They ask your Full Name and any other Names Used. The Name and Address of you Bank or Financial Institution, Your Personal Residence Address and how long you have lived at your present residence, and Your Home and Business Telephone. They ask your most resent prior address but this can be omitted if you have lived in your personal residence for ten years or longer.
The Top Right of the form asks your SPA District Office and your percentage of ownership. the Form then asks you several Personal Questions about your identity and they are:
Social Security Number, Date of Birth, Place of Birth, If you are a U.S. Citizen.
The Form then asks you three questions about any Criminal Arrests or Charges that may be on your record. These three questions are answered by Checking a Box, Yes or No. These questions are also initialed along with the question on being a Citizen.
If you answer any of the three questions in the Affirmative then you will have to explain the best you can, the details of the Charge or Conviction. You will probably also have to obtain and Fill Out a Finger Print Card, which will be sent to the FBI along with this form.
Answering any of these questions ( 7, 8, or 9 ) with a Yes answer will not disqualify you from getting a loan but it will mean that the SBA will have to get information from the FBI and make a decision whether you are Eligible for a SBA Loan. This process can take up to a month or longer to get an answer from SBA so it is best to get this process started as early as possible.
Never automatically think that you will be turned down for Citizenship or Criminal reasons until the SBA deems you to be Ineligible.
Please also go to my website at www.schlueterfinancial.com for additional information on lending or my contact information.