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Get Fee Disclosure And Compensation Agreement, Sba Form 159
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How to fill out the Fee Disclosure And Compensation Agreement, SBA Form 159 online
Filling out the Fee Disclosure And Compensation Agreement, SBA Form 159 is essential for documenting the fees and compensation associated with Agents in connection with SBA loans. This guide provides clear, step-by-step instructions to assist users in completing the form accurately and efficiently online.
Follow the steps to complete the Fee Disclosure And Compensation Agreement, SBA Form 159.
- To obtain the form, click the ‘Get Form’ button and open it in your preferred online editor.
- Select whether you are applying for a 7(a) loan or a 504 loan by checking the corresponding box.
- Enter the SBA loan name and number in the designated fields, ensuring no spaces are included in the loan number.
- Fill in the SBA Lender's FIRS number and legal name in the provided fields.
- Identify the Agent performing services by entering their name, contact person, and address.
- Choose the type of Agent from the list provided, selecting the appropriate option for your situation.
- For each service provided by the Agent, list the service type, along with the amounts paid by the Applicant and the SBA Lender, ensuring that the fees are disclosed accurately.
- If the total compensation paid exceeds $2,500, indicate that itemization and supporting documentation are attached, including detailed work explanations and hourly rates.
- The Applicant should sign and date the form, ensuring the signature is that of an authorized representative.
- The Agent must also complete their certification by signing and dating the form, confirming that all information is accurate.
- The SBA Lender needs to certify the information by signing and dating the form, thus confirming the services rendered and amounts charged.
- Once the form is completely filled out, options for saving changes, downloading, printing, or sharing the document should be utilized as needed.
Take the next step in completing your documentation by filling out the Fee Disclosure And Compensation Agreement, SBA Form 159 online today.
Instead of raising taxes to cover the costs, the SBA charges lenders who, in turn, charge borrowers to pass the burden on to the small businesses getting the benefit. In the end, small business owners pay the SBA guaranty fees.
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