SBA Wants Your Birthday for Loans: Comment Now!
Published Date: 3/31/2025
Notice
Summary
The Small Business Administration is updating its SBA Form 1919 to better track business owners and franchises, making it easier to follow new rules and priorities. If you’re applying for a 7(a) loan, you’ll need to provide more detailed info about ownership, including birthdates and citizenship status. Comments on these changes are open until May 30, 2025, so now’s the time to speak up!
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
New U.S.-ownership and operations certifications
Form 1919 will add certifications that 100% of Beneficial Ownership of the Applicant and any Operating Company is held by U.S. citizens, U.S. nationals, or Lawful Permanent Residents (LPRs). The form will also add a certification that the Applicant is located and primarily operates in the United States (including territories and possessions), is authorized to do business where it seeks SBA assistance, pays taxes to the United States, and will, to the extent practicable, purchase American-made equipment and products with loan proceeds.
More owner details required on Form 1919
If you apply for an SBA 7(a) loan using Form 1919, you will be asked to identify 100% of the business's Beneficial Owners and provide more personal details for each owner — including date of birth, citizenship status, and, for Lawful Permanent Residents (LPRs), their alien registration number (ARN) or equivalent. The form will also request a spouse's name if the spouse is a Beneficial Owner. SBA estimates 69,236 annual responses and a total annual hour burden of 39,233.7 hours for this collection.
Franchise identifier required for franchisees
If your business operates under a franchise agreement and you apply for a 7(a) loan, Form 1919 will require you to enter the franchise name and the SBA Franchise Identifier Code. SBA will provide a link to the SBA Franchise Directory to help applicants locate the correct Franchise Identifier Code.
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