SBA Form 172, SBA Transaction Report on Loan Serviced by Lender
What Is SBA Form 172?
SBA Form 172, SBA Transaction Report on Loan Serviced by Lender - also known as the SBA Transmittal Form 172 - is a form used by Lenders to report information about loan payments to the Small Business Administration (SBA) on a monthly basis. This is done to show the remittance due to the SBA on loans serviced by participating lending institutions and to update the loan receivable balances.
The SBA released the latest edition of the form in April 1993 with all previous editions obsolete. The latest SBA Form 172 fillable version is available for electronic filing through the pay.gov website - a service provided by the U.S. Department of the Treasury, Bureau of the Fiscal Service. A printable version of the form is available below for reference:
Before filling out the form, the Lender has to create an account on the pay.gov website. The form will then be available for filing with a step-by-step guide and the completed document will be available for download.
When to Use SBA Form 172?
The form is used by Lenders to make monthly reports on loan payments for those loans that have been purchased by the SBA and are being serviced by SBA-approved lending partners.
The purpose of the form is to show the remittance due to the agency on a loan serviced by a participating lending partner and to update the loan receivable balances.
SBA Form 172 instructions are as follows:
- The Lender must identify the type of payment before completing the form. The available types include the following:
- Principal and Interest;
- Interest only;
- Principal only;
- America's Recovery Capital (ARC).
- The form will then require the Lender to enter their name and address, the name of the Borrower, their loan number, interest rate and the shares of the loan that belong to the SBA and the Lender in percent.
- The Lender then has to provide the amount due for repayment (the total, the Lender’s share, the SBA’s share, recoverable expenses, and service fees).
- The Lender has to provide information on the principal loan balance and give comments on any recoverable expenses mentioned above in the Comments section to complete the form.