SBA loan guide

SBA Loan Closing Checklist: Forms 1919, 1920, 413, 148, 155 & Red Flags

A practical SBA closing-document checklist for borrowers reviewing forms, guarantees, collateral, standby debt, financial statements, and program conditions before signing.

Last reviewed: May 26, 2026 by the BizLeaseCheck Editorial Team

General information, not legal or financial advice.

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Overview

An SBA loan closing package is more than a note. It can include SBA forms, lender forms, guarantees, security agreements, mortgages or deeds of trust, financial disclosures, insurance assignments, leases, authorizations, and standby-creditor documents.

This checklist is not a substitute for lender instructions or counsel review. It is a borrower-side map of the official forms and issue areas that most often change risk before closing.

Topics to check

Borrower information: SBA Form 1919High confidence

SBA Form 1919 is the Borrower Information Form for 7(a) loans and is completed by the small business applying for a 7(a) loan.

The form collects applicant, owner, loan request, existing indebtedness, and other information used for eligibility and background checks.

SBA Form 1919 — Borrower Information Form

Lender application reference: SBA Form 1920High confidence

SBA’s Form 1920 page states that the Lender’s Application for Guaranty was retired as of August 1, 2023 and remains posted for reference only.

If a checklist or lender package still references Form 1920, verify whether it is historical, retained-file documentation, or replaced by an electronic process.

SBA Form 1920 — retired reference page

Personal financial statement: SBA Form 413High confidence

SBA Form 413 is used to assess the financial situation of applicants for several SBA programs, including 7(a) and 504 loans.

Review consistency between Form 413, tax returns, bank statements, collateral schedules, debt disclosures, and guarantor net-worth representations.

SBA Form 413 — Personal Financial Statement

Guarantees: SBA Form 148 and Form 148LHigh confidence

SBA Form 148 is the unconditional guarantee form; SBA Form 148L is the unconditional limited guarantee form.

The instructions warn that guarantee text should not be altered except for required insertions, and that limitation options must match the applicable terms.

SBA Form 148/148L instructions

Standby debt: SBA Form 155High confidence

SBA Form 155 is the Standby Creditor’s Agreement, and SBA states the lender may use Form 155 or its own standby agreement.

Use it to check seller notes, affiliate debt, subordinate financing, and any creditor whose rights must stand behind the SBA lender.

SBA Form 155 — Standby Creditor’s Agreement

Program conditions: collateral, occupancy, insurance, and payoffMedium confidence

Use the current SOP 50 10, 13 CFR Part 120, and lender approval terms to check collateral, hazard insurance, appraisals, occupancy, prepayment, and release conditions.

Before signing, ask for a document index and mark which documents create personal liability, collateral pledges, covenants, default rights, or release obligations.

SBA SOP 50 10 landing page

Key takeaways

Form 1919 is current borrower information for 7(a) loans.
Form 1920 is retired as of August 1, 2023 and should be treated as reference unless the lender explains otherwise.
Form 413 supports personal financial review for SBA programs.
Form 148 and Form 148L control full or limited guarantee exposure.
Form 155 or a lender standby agreement can control seller and subordinate debt.

Official resources

SBA Form 148 — Unconditional Guarantee SBA SOP 50 10 — Lender and Development Company Loan Programs 13 CFR § 120.160 — SBA loan conditions CFPB Regulation B / ECOA — 12 CFR Part 1002 SBA Form 1919 — Borrower Information Form SBA Form 1920 — retired reference page SBA Form 413 — Personal Financial Statement SBA Form 155 — Standby Creditor’s Agreement

Legal-review notes

Guide confidence marker: Medium confidence.

Verify the lender’s current document package and electronic application workflow before paid promotion.
Have counsel review state-specific guarantees, collateral documents, spouse signatures, and any closing condition that survives funding.

Frequently asked questions

What SBA forms should I expect at closing?

Common borrower-side forms and documents include Form 1919, Form 413, Form 148 or 148L, Form 155 or lender standby agreement, plus lender notes, security documents, insurance, and collateral documents.

Is SBA Form 1920 still required?

SBA’s Form 1920 page says it was retired as of August 1, 2023 and remains posted for reference only. Ask the lender how it handles the application data now.

What should I review first in an SBA closing package?

Start with the note, guarantee, collateral documents, spouse or property signatures, standby debt, prepayment language, and any conditions that must be satisfied after closing.