Get the free SBA Form 159 - Citizens National Bank

Fee Disclosure and Compensation Agreement For use with 7(a) and 504 Loan Programs OMB Control No. 32450201 Expiration Date: 08/31/2021Purpose of this form: The purpose of this form is to identify

How to fill out sba form 159

How to fill out sba form 159

1. To fill out SBA Form 159, follow these steps:
2. Start by downloading the SBA Form 159 from the official Small Business Administration (SBA) website.
3. Read through the instructions provided on the form to understand the purpose and requirements.
4. Gather all the necessary documentation and information that will be required to complete the form.
5. Begin by filling out the basic information section, including your name, address, social security number, and contact information.
6. Provide the details of the loan application, such as the loan number and the lender's information.
7. Fill in the details of the repayment plan, including the amount to be repaid and the frequency of payments.
8. If applicable, provide any additional information or documentation as requested by the form.
9. Review the completed form for accuracy and completeness.
10. Sign and date the form to validate your submission.
11. Make copies of the filled-out form for your records.
12. Submit the original form to the appropriate recipient as specified in the instructions.

Who needs sba form 159?

1. SBA Form 159 is typically needed by individuals or businesses that have borrowed money from a financial institution or lender under an SBA loan program. This form is used to provide information regarding loan repayments, including the amount to be repaid and the repayment schedule. It is important to consult with the specific lender or loan program guidelines to determine if SBA Form 159 is required in your particular case.

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What is sba form 159?

SBA Form 159 is a form used by the U.S. Small Business Administration (SBA) to disclose any fees paid to third parties in connection with SBA loan applications.

Who is required to file sba form 159?

Any applicant for an SBA loan who has paid fees to a third party for assistance in obtaining an SBA guaranteed loan is required to file SBA Form 159.

How to fill out sba form 159?

To fill out SBA Form 159, you need to provide information regarding the applicant, the loan being applied for, the amount paid to third parties, and any additional details relevant to the fees paid.

What is the purpose of sba form 159?

The purpose of SBA Form 159 is to ensure transparency regarding any commissions or fees paid to third parties that assist applicants in securing SBA financing.

What information must be reported on sba form 159?

The form requires information such as the applicant's name, the loan number, details of the third party receiving fees, the amount paid, and the nature of services rendered.