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REQUIRED DISCLOSURE INFORMATION MUST BE COMPLETED FOR TRANSFER. SBA Form 1088 11-08 Previous Editions Obsolete.

How to fill out sba form 1088

How to fill out SBA form 1088:

1. Gather all necessary information and documentation, such as your business's financial records, tax returns, and any supporting documents for the specific loan you are applying for.
2. Carefully read through the form and follow the instructions provided by the Small Business Administration (SBA).
3. Begin by providing your business's basic information, such as its name, address, and contact details.
4. Fill in the necessary sections regarding the type of loan you are applying for, including the loan program, loan amount, and purpose of the loan.
5. Provide detailed information about your business's financial condition, including assets, liabilities, income, expenses, and cash flow projections.
6. Complete the sections related to your personal financial condition, including your personal assets, liabilities, and income.
7. If applicable, provide details about any collateral you are pledging for the loan and the amount of collateral available.
8. Finish the form by signing and dating it, affirming the accuracy of the information provided.
9. Double-check all the information filled in before submitting the form to ensure its accuracy and completeness.

Who needs SBA form 1088:

1. Small business owners or entrepreneurs seeking financial assistance or loans from the Small Business Administration.
2. Individuals looking to apply for SBA loan programs, such as the 7(a) Loan Program or the CDC/504 Loan Program.
3. Business owners who are required by the SBA or their lending institution to complete form 1088 as part of the loan application process.

For pdfFiller’s FAQs

What is sba form 1088?

SBA Form 1088 is the "Statement of Personal History" form used by the U.S. Small Business Administration (SBA). This form is typically required to be completed by individuals who are applying for SBA loan programs or other types of assistance offered by the SBA. The form collects personal and background information about the individual, including their education, employment history, business ownership, criminal record, and financial information. This information is used by the SBA to evaluate the applicant's eligibility and creditworthiness.

Who is required to file sba form 1088?

The Small Business Administration (SBA) Form 1088 is required to be filed by a Certified Development Company (CDC) with the SBA. A CDC is a nonprofit corporation that provides funding to small businesses through the SBA's 504 loan program.

How to fill out sba form 1088?

Form 1088 is a Borrower Information Form that is used by the Small Business Administration (SBA) to collect information about the personal history, criminal background, and financial situation of individuals who are applying for business loans. Here are the steps to fill out SBA Form 1088: 1. Begin by downloading Form 1088 from the SBA website or obtain a physical copy from your lender. 2. Read the instructions carefully to understand the purpose of each section and the information required. 3. Section 1: Personal Information - Provide your full legal name, Social Security Number, home address, and contact information. Also, include your date of birth, gender, marital status, and citizenship status. 4. Section 2: Business Ownership - Indicate whether you own or have an interest in other businesses. Provide details about the nature of these businesses and your involvement in them. 5. Section 3: Criminal Background - Answer the questions regarding criminal history. If applicable, provide information about the nature of the offense, date of the offense, and disposition. 6. Section 4: Financial Information - Provide details about any assets you own, including personal real estate, savings, investments, and vehicles. Disclose your liabilities, such as mortgages, loans, and credit card debts. 7. Section 5: Personal Financial Statement - Fill out the personal financial statement, including details about your personal income, expenses, and net worth. Attach supporting documents as required. 8. Section 6: Other Information - Answer additional questions as required, which may include inquiries about bankruptcies, foreclosures, or government loan defaults. 9. Sign and date the form in the designated area. 10. Review the completed form to ensure accuracy and completeness. 11. Submit the form along with any supporting documents to your lender or as directed by the loan application instructions. It is recommended to consult with your lender or seek professional assistance if you have any doubts or questions while filling out Form 1088.

What is the purpose of sba form 1088?

SBA Form 1088, also known as the Borrower Information Form, is used by the Small Business Administration (SBA) to assess the eligibility and creditworthiness of individuals or entities applying for a loan. The purpose of Form 1088 is to collect detailed information about the borrower's personal and financial background, as well as information about the business they operate or plan to establish. This form helps the SBA evaluate the borrower's ability to repay the loan, analyze the feasibility of the business, and make informed decisions regarding loan approval.

What information must be reported on sba form 1088?

SBA Form 1088 is a form used to report details about a small business loan. The information that must be reported on this form includes: 1. Borrower Information: This includes the name, address, and contact details of the borrower. 2. Loan Information: This section requires details about the loan, such as the loan number, loan amount, type of loan (e.g., 7(a), 504, etc.), and the purpose of the loan. 3. Financial Information: The borrower needs to provide information about their financial status, such as the business's gross revenues, job creation/retention, collateral offered, and if any other loans have been approved and outstanding. 4. Demographic Information: This section collects demographic details of the business's ownership, including minority and women-owned status, veteran status, and if the business is located in an underserved community. 5. Certification: The form also includes a certification section where the borrower certifies the accuracy of the information provided. It's important to note that specific information requirements may vary, and it's crucial to refer to the official form, instructions, and any guidance provided by the Small Business Administration (SBA) for the most up-to-date and accurate information.

What is the penalty for the late filing of sba form 1088?

There is no specific penalty mentioned for the late filing of SBA Form 1088 (Export-Import Bank Trade Credit Insurance Application). The penalty for late filing may vary depending on the specific circumstances and requirements of the Export-Import Bank or any other relevant authorities. It is advisable to contact the Export-Import Bank directly or consult with an expert to understand the potential penalties or consequences for late filing.

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