SBA Updates Loan Form: Please Comment by June, Zzz
Published Date: 4/8/2025
Notice
Summary
The Small Business Administration is updating a form that small businesses use to apply for special loans. They want your thoughts on the changes by June 9, 2025, to make sure the form is clear and fair. These updates follow new government rules and aim to keep the loan process smooth and secure, with no extra costs for businesses.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
504 Loan Form Updated for Citizenship Rules
SBA is revising the SBA 504 Borrower Information Form (SBA Form 1244, OMB Control Number 3245-0071) to comply with Executive Order 14159 (issued January 20, 2025) and SBA Policy Notice 5000-865754 (published March 7, 2025) concerning citizenship requirements for obtaining 7(a) and 504 loans. If you apply for a 504 loan, the information the form asks for will be changed to reflect those citizenship-related policy updates. You may submit comments on these changes by June 9, 2025.
Estimated Annual Response Burden
SBA estimates the SBA 504 Borrower Information Form will receive 5,993 responses annually, with a total estimated annual burden of 16,157 hours. These estimates reflect the time small businesses and Certified Development Companies are expected to spend completing the form each year.
Form Instructions Will Be Clarified
SBA will improve the instructional guidance on the SBA 504 Borrower Information Form to make the form clearer. Clearer instructions are intended to help small businesses and Certified Development Companies complete the form more accurately.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2025-02741, HUBZone Program Updates and Clarifications, and Clarifications to Other Small Business Programs; Correction
The SBA fixed some small but important mistakes in its recent HUBZone and small business program rules to make things clearer and fairer. These corrections affect small businesses using HUBZone and other SBA programs, especially around size protests and financial reporting. The fixes take effect on February 18, 2025, helping businesses avoid confusion and unnecessary paperwork.
2026-20544, Presidential Declaration of a Major Disaster for the State of Ohio
Ohio got hit hard by storms, tornadoes, floods, and landslides from August 10-22, 2026, and the President declared it a major disaster on October 2. People and businesses in several counties can now apply for low-interest disaster loans to help fix damage or recover lost income. You’ve got until December 1, 2026, for physical damage loans and July 2, 2027, for economic injury loans—so don’t wait!
2026-20548, Administrative Disaster Declaration of a Rural Area for the State of Missouri
Missouri’s rural areas in Crawford and Reynolds counties got hit hard by storms, winds, and flooding in July 2026. The government declared a disaster, opening the door for low-interest loans to help homeowners, businesses, and nonprofits recover. You’ve got until December 1, 2026, to apply for physical damage loans and until July 6, 2027, for economic injury loans—so don’t wait!
2026-20399, Administrative Declaration of an Economic Injury Disaster for the State of Oregon
Oregon businesses hit by severe storms and wildfires from mid-July to late August 2026 can now apply for Economic Injury Disaster Loans to help recover. The SBA opened applications on October 1, 2026, with a deadline to apply by July 1, 2027. Low-interest loans are available for small businesses and nonprofits in affected counties across Oregon, Idaho, and Washington.
2026-20472, Administrative Declaration of a Disaster for the State of Connecticut
Connecticut got hit hard by storms and flash floods on September 13, 2026, and the government just declared it a disaster area. This means people and businesses in Fairfield and nearby counties can apply for low-interest disaster loans to help fix damage or cover lost income. You’ve got until December 1, 2026, to apply for physical damage loans and until July 2, 2027, for economic injury loans—so don’t wait!
2026-20343, The Entire United States and U.S. Territories; Military Reservist Economic Injury Disaster Loan Program (MREIDL)
Starting October 1, 2026, small businesses across the U.S. and territories with military reservist employees called to active duty for over 30 days can apply for special disaster loans. These loans help cover everyday business costs while essential employees serve, with applications open for up to a year after the employee returns. The current loan interest rate is 4%, making it easier to keep businesses running smoothly during tough times.
Previous / Next Documents
Previous: 2025-06011, Proposed Submission of Information Collection for OMB Review; Comment Request; Notices Following a Substantial Cessation of Operations
The Pension Benefit Guaranty Corporation (PBGC) wants to keep collecting info from companies that stop their operations at a facility. This helps make sure all pension-related reports are up to date. If you’re involved, you can comment on this plan by June 9, 2025, and there’s no new cost or big changes—just a paperwork extension.
Next: 2025-06013, Proposed Submission of Information Collection for OMB Review; Comment Request; Administrative Appeals
The Pension Benefit Guaranty Corporation (PBGC) wants to keep collecting info about how people appeal their decisions. This affects anyone dealing with PBGC appeals and asks for public comments by June 9, 2025. No big cost changes, just making sure the paperwork rules stay clear and fair.