Sba Form 159 Fee Disclosure Form and Compensation Agreement

As a small business owner, you`re no stranger to paperwork and forms. But when it comes to SBA Form 159 – the Fee Disclosure Form and Compensation Agreement – it can be easy to feel a little lost. This form is required by the Small Business Administration for all loans over $50,000, and it`s important to fill it out correctly to avoid any potential legal issues down the line. In this article, we`ll take a closer look at SBA Form 159 and break down everything you need to know.

First things first: what`s the purpose of SBA Form 159? Essentially, this form is meant to provide transparency around fees and compensation related to your loan. It requires lenders to disclose their fees and charges in detail, including origination fees, closing costs, and any other charges that may apply. Additionally, it outlines the compensation that the lender will receive for their services, such as a percentage of the loan amount or a flat fee.

In order to complete SBA Form 159, you`ll need to have a few key pieces of information on hand. These include:

– Your loan amount

– The name and contact information of your lender

– The total dollar amount of fees and charges associated with your loan

– The compensation agreement with your lender

It`s important to note that SBA Form 159 must be signed by both you (the borrower) and your lender. This signifies that you both agree to the terms outlined in the form.

One thing to keep in mind is that SBA Form 159 can be a bit complicated to fill out, especially if you`re not familiar with the terminology and concepts involved. That`s where a professional can come in handy. By working with a professional, you can ensure that all of the information on the form is accurate and consistent with your overall SEO strategy. This can be especially helpful if you`re planning to use your loan to invest in SEO services or other marketing activities.

Overall, SBA Form 159 is an essential part of the loan process for small business owners. By filling it out correctly and ensuring that all of the information is accurate, you can avoid any potential legal issues and ensure that you`re getting the best possible deal for your loan. So don`t be afraid to reach out to a professional if you need help navigating this complex form – it could save you a lot of time and hassle in the long run.