SBA Form 159, Fee Disclosure and Compensation Agreement is a form used to identify a third party agent hired by a small business owner for assistance in completing a Small Business Administration (SBA) loan application. The form is used with 7(a) and 504 Loan Programs and must be filed if an individual lender paid a fee to an agent for any assistance in completing their SBA loan application.
Loan packagers, accountants, brokers, consultants, and lawyers typically count as agents. The SBA might decide that the agent charged too much for their services and require the agent to provide a partial or full refund of all paid fees.
The latest version of the form was released by the SBA in April 2018 with all previous editions obsolete. An updated SBA Form 159 fillable version is available through the link below. The previously used SBA Form 159 (7a) is no longer hosted on the SBA website.
The SBA Form 159D (Fee Disclosure Form and Compensation Agreement for Agent Services in Connection With an SBA Disaster Assistance Loan) is a related form used to report using the services of an agent in connection with SBA Disaster Assistance loan applications.