SBA has published Procedural Notice 5000-866498, Requirement to provide owner date of birth in E-Tran (effective March 26, 2025). The notice notifies lenders that beginning Thursday, March 27, 2025, they must “enter the date of birth for all owners of an applicant business” as part of the owner information they enter into E-Tran. This information is not collected on the current SBA Form 1919, SBA 7(a) Borrower Information Form. So, until SBA issues a new application form, 7(a) lenders must collect the information separately. The new requirement also applies to 504 loans.
As a reminder, SBA Notice 5000-865754, Policy updates to comply with Executive Order 14159 regarding citizenship requirements for obtaining 7(a) and 504 loans (effective March 7, 2025), requires lenders to enter into E-Tran information on at least 81% of the beneficial owners of the applicant company. But, in order to comply with certification requirements, information must be obtained on all beneficial owners. Therefore, while not specifically required by the notice, NAGGL recommends that lenders obtain birthdates on all beneficial owners.
