SBA Form 722, Equal Employment Opportunity Statement
What Is SBA Form 722?
SBA Form 722, Equal Opportunity Poster - also known as the equal employment opportunity statement - is a poster used for showing that the organization is an equal opportunity employer and treats all employees, applicants for employment and clients equally.
The latest version of the form was released by the Small Business Administration (SBA) in October 2002 with all previous editions obsolete. An up-to-date printable SBA Form 722 is available for download below:
Any organization receiving SBA financial assistance must post an SBA equal employment opportunity poster in their facilities. It should be clearly visible to all employees, applicants seeking employment and the general public. Failure to display the poster properly may lead to penalties from the SBA.
Equal Employment Opportunity Statement
Any employer with fifteen or more employees is covered by anti-discrimination laws. The employees may not be discriminated against on the grounds of race, color, religion, sex, age, disability or national origin during hiring, employment, or promotion. Racial or other biases may not in any way influence their rank, salary or fringe benefits. Anti-discrimination laws cover the hiring and firing processes as well as promotions, training and handling harassment complaints.
It is also illegal to discriminate an employee for complaining about discrimination or suing over discrimination.
The SBA equal employment opportunity poster states that the organization practices both equal employment opportunities and equal treatment of its clients. The clients and guests will not be discriminated on the basis of race, color, religion, sex, marital status, disability, age or national origin in services or accommodations offered or provided to them. Providing equal opportunities for all employees and customers is an important part of all SBA programs and is a part of the policies enforced by the SBA.
The SBA 722 is a form used with the SBA 7(a) loan program. The obligation to have 7(a) businesses put up the equal employment opportunity poster stems from the fact that the program itself provides support to socially or economically disadvantaged people and social groups.
The form can also be used by SBA CDC/504 program participants. CDC stands for Certified Development Company (CDC) which typically denotes a nonprofit corporation set up to contribute to the economic development of its community. These mission-based lenders are located nationwide and operate primarily in their state of incorporation. CDCs work with the SBA and private-sector lenders to provide financing to small businesses. The CDC/504 Loan Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.