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How to fill out the FA$TRAK BORROWER INFORMATION FORM - Small Business online
Filling out the FA$TRAK Borrower Information Form is an essential step for small businesses seeking funding through various loan programs. This guide provides clear, step-by-step instructions to help users complete the form online, ensuring accuracy and compliance with all requirements.
Follow the steps to complete the form accurately.
- Click ‘Get Form’ button to obtain the FA$TRAK Borrower Information Form, then open it in your preferred editor.
- Provide the small business borrower name and lender name in the designated fields at the top of the form.
- Indicate the purpose of the loan and briefly describe the type of business. Ensure that these descriptions are clear and concise.
- Carefully read and answer the eligibility questions. If any response is 'No,' be mindful that the loan may not be eligible.
- Fill in the 'Size and Affiliation' section with detailed information including the primary industry of the applicant and its NAICS code.
- Provide the average annual receipts of the applicant's business for the last three fiscal years and the number of employees.
- Consult the SBA size standard and provide either the relevant details or check the alternative size standard if applicable.
- Indicate if the combined size calculation for the applicant and its affiliates meets the size standard.
- Complete the 'Terms of the Loan' section by specifying the loan maturity and ensuring it does not exceed SBA limits.
- List the interest rates applicable for your loan type and ensure they comply with SBA regulations.
- Final Review: Go back through the form to confirm all fields are filled correctly and there are no skipped questions.
- Once completed, you can save changes, download, print, or share the form to finalize your submission.
Start completing your FA$TRAK Borrower Information Form online today to secure your business funding.
The 20% rule for SBA loans states that a borrower must have at least 20% of their own equity in the business when applying for financing. This means that you should be prepared to invest your own funds before seeking additional funding. Having this equity demonstrates to lenders that you are committed to your business's success. For the FA$TRAK BORROWER INFORMATION FORM - Small Business, this rule can help streamline your application process.