SBA Form 1201, Borrower Payments
What Is SBA Form 1201?
SBA Form 1201, Borrower Payments is an online payment form used by Borrowers to make payments on all loans serviced by the Small Business Administration (SBA) including Disaster Loans.
The 1201 borrower payments can only be made through the pay.gov website - a secure service provided by the U.S. Department of the Treasury. Using the pay.gov account users can set up recurring loan payments, review previously made transactions, and cancel pending payments. A printable preview of the e-form can be downloaded below:
Filing the SBA Form 1201 starts with entering the name and address of the Borrower along with their loan number and amount paid into the electronic form on the pay.gov website. The Borrower is then required to enter their payment data before reviewing, submitting and confirming the provided information.
SBA Borrower Payments
The pay.gov website accepts several methods for submitting borrower payments:
- Paying directly out a bank account (ACH payments). ACH payments are electronic payments made through the Automated Clearing House (ACH) Network.
- Paying through a PayPal account.
- Making payments off of a debit card.
There are two types of accounts available on the website - personal accounts and company accounts. Personal accounts are made for individuals that are not the representatives of any company, organization or agency. Company accounts are made for individuals acting on behalf of a company or organization. Users with an active account are able to:
- See previous SBA Form 1201 payments made since the account was created;
- Store payment information, SBA loan number and card number eliminating the need to reenter information for every transaction;
- Set up automatic recurring payments from a bank account, PayPal account or debit card.