Sba Form 147 PDF Details

The SBA Form 147 is a request for determination of small business size status. This form is used to determine whether a company qualifies as a small business according to the criteria set by the Small Business Administration (SBA). The SBA Form 147 must be completed and submitted by all companies that are interested in becoming or are currently certified as small businesses. Completing and submitting this form is an important step in the certification process, so it's important to understand what's involved. In this blog post, we'll provide an overview of the SBA Form 147 and explain how to complete it. We'll also discuss some of the benefits of certification as a small business.

We've compiled some basic details about the sba form 147. You'll have the approximated time it could require you to fill out the form and some other details.

Form NameSba Form 147
Form Length6 pages
Fillable fields15
Avg. time to fill out4 min 30 sec
Other namessba 147 note, usar form 147, secured creditor sba 2021 disaster loan pdf form 147, sba 147

Form Preview Example


SBA Loan #

SBA Loan Name


Loan Amount

Interest Rate






In return for the Loan, Borrower promises to pay to the order of Lender the amount of


Dollars, interest on the unpaid principal balance, and all other amounts required by this Note.


“Collateral” means any property taken as security for payment of this Note or any guarantee of this Note.

“Guarantor” means each person or entity that signs a guarantee of payment of this Note.

“Loan” means the loan evidenced by this Note.

“Loan Documents” means the documents related to this loan signed by Borrower, any Guarantor, or anyone who pledges collateral.

“SBA” means the Small Business Administration, an Agency of the United States of America.


Borrower must make all payments at the place Lender designates. The payment terms for this Note are:

2 of 6

SBA FORM 147 (06/03/02) VERSION 4.1


Borrower is in default under this Note if Borrower does not make a payment when due under this Note, or if Borrower or Operating Company:

A.Fails to do anything required by this Note and other Loan Documents;

B.Defaults on any other loan with Lender;

C.Does not preserve, or account to Lender’s satisfaction for, any of the Collateral or its proceeds;

D.Does not disclose, or anyone acting on their behalf does not disclose, any material fact to Lender or SBA;

E.Makes, or anyone acting on their behalf makes, a materially false or misleading representation to Lender or SBA;

F.Defaults on any loan or agreement with another creditor, if Lender believes the default may materially affect Borrower’s ability to pay this Note;

G.Fails to pay any taxes when due;

H.Becomes the subject of a proceeding under any bankruptcy or insolvency law;

I.Has a receiver or liquidator appointed for any part of their business or property;

J.Makes an assignment for the benefit of creditors;

K.Has any adverse change in financial condition or business operation that Lender believes may materially affect Borrower’s ability to pay this Note;

L.Reorganizes, merges, consolidates, or otherwise changes ownership or business structure without Lender’s prior written consent; or

M.Becomes the subject of a civil or criminal action that Lender believes may materially affect Borrower’s ability to pay this Note.


Without notice or demand and without giving up any of its rights, Lender may:

A.Require immediate payment of all amounts owing under this Note;

B.Collect all amounts owing from any Borrower or Guarantor;

C.File suit and obtain judgment;

D.Take possession of any Collateral; or

E.Sell, lease, or otherwise dispose of, any Collateral at public or private sale, with or without advertisement.


Without notice and without Borrower’s consent, Lender may:

3 of 6

SBA FORM 147 (06/03/02) VERSION 4.1

A.Bid on or buy the Collateral at its sale or the sale of another lienholder, at any price it chooses;

B.Incur expenses to collect amounts due under this Note, enforce the terms of this Note or any other Loan Document, and preserve or dispose of the Collateral. Among other things, the expenses may include payments for property taxes, prior liens, insurance, appraisals, environmental remediation costs, and reasonable attorney’s fees and costs. If Lender incurs such expenses, it may demand immediate repayment from Borrower or add the expenses to the principal balance;

C.Release anyone obligated to pay this Note;

D.Compromise, release, renew, extend or substitute any of the Collateral; and

E.Take any action necessary to protect the Collateral or collect amounts owing on this Note.


When SBA is the holder, this Note will be interpreted and enforced under federal law, including SBA regulations. Lender or SBA may use state or local procedures for filing papers, recording documents, giving notice, foreclosing liens, and other purposes. By using such procedures, SBA does not waive any federal immunity from state or local control, penalty, tax, or liability. As to this Note, Borrower may not claim or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law.


Under this Note, Borrower and Operating Company include the successors of each, and Lender includes its successors and assigns.


A.All individuals and entities signing this Note are jointly and severally liable.

B.Borrower waives all suretyship defenses.

C.Borrower must sign all documents necessary at any time to comply with the Loan Documents and to enable Lender to acquire, perfect, or maintain Lender’s liens on Collateral.

D.Lender may exercise any of its rights separately or together, as many times and in any order it chooses. Lender may delay or forgo enforcing any of its rights without giving up any of them.

E.Borrower may not use an oral statement of Lender or SBA to contradict or alter the written terms of this Note.

F.If any part of this Note is unenforceable, all other parts remain in effect.

G.To the extent allowed by law, Borrower waives all demands and notices in connection with this Note, including presentment, demand, protest, and notice of dishonor. Borrower also waives any defenses based upon any claim that Lender did not obtain any guarantee; did not obtain, perfect, or maintain a lien upon Collateral; impaired Collateral; or did not obtain the fair market value of Collateral at a sale.

4 of 6

SBA FORM 147 (06/03/02) VERSION 4.1


5 of 6

SBA FORM 147 (06/03/02) VERSION 4.1


By signing below, each individual or entity becomes obligated under this Note as Borrower.




6 of 6

SBA FORM 147 (06/03/02) VERSION 4.1

How to Edit Sba Form 147 Online for Free

We have used the efforts of the best developers to design the PDF editor you are about to take advantage of. The software will help you create the small business administration form 147 form with ease and don’t waste precious time. All you should do is follow the next easy-to-follow steps.

Step 1: At first, choose the orange "Get form now" button.

Step 2: As soon as you have accessed the small business administration form 147 edit page, you'll see all functions you can take with regards to your document at the top menu.

The next sections will compose the PDF template that you will be creating:

step 1 to writing usar form 147

Jot down the details in the DEFINITIONS, Loan, means, the, loan, evidenced, by, this, Note is, loan, sig and ned, by, Borrower, any, Guarantor, or field.

Finishing usar form 147 stage 2

Note down all information you may need inside the box BORROWERS, NAME, AND, SIGNATURE BORROWERS, NAME, AND, SIGNATURE and BORROWERS, NAME, AND, SIGNATURE

Filling out usar form 147 step 3

Step 3: In case you are done, press the "Done" button to transfer the PDF file.

Step 4: Generate duplicates of the document. This should save you from forthcoming issues. We cannot view or distribute the information you have, for that reason feel comfortable knowing it will be safe.

Watch Sba Form 147 Video Instruction

If you believe this page is infringing on your copyright, please familiarize yourself with and follow our DMCA notice and takedown process - click here to proceed .