Get Form 1086 What For

Filling out the Form 1086, also known as the Secondary Participation Guaranty Agreement, can seem daunting, but with clear guidance, you can complete it online with ease. This form is essential for documenting sales of guarantees within the SBA's 7(a) loan program, so accurate completion is crucial.

Follow the steps to fill out Form 1086 online.

1. Begin by clicking the ‘Get Form’ button to access the form and open it in your preferred editing tool.
2. Carefully read through the introduction section of the form, which provides essential information about the purpose and requirements of Form 1086.
3. Fill out the lender's information section, ensuring all required details, such as the lender's name and address, are accurately provided.
4. Complete the borrower's information, including their name and relevant contact details, ensuring there are no errors as this information is crucial for processing.
5. In the section concerning the loan details, make sure to accurately provide the amount of the loan, the interest rate, and the terms of the loan as outlined in your agreement.
6. Review the additional lender certifications section thoroughly. Ensure any applicable certifications are checked and corresponding details are filled out.
7. Read through the declarations and confirmations required at the end of the form. It is critical to understand these statements as they confirm your agreement with the terms.
8. Finally, save the changes you have made to the form. You have the options to download, print, or share the completed form as necessary.

Complete your Form 1086 online today to ensure proper documentation of your SBA loan participation.