Glossary · People and paperwork
Declaration of Intent
In short
This is a formal statement signed by a foreign national borrower indicating their intention to become a U.S. citizen. The SBA requires this if you are a 'Qualified Alien' but not yet a permanent resident.
What it means in a deal
If you meet the SBA's 'Qualified Alien' definition but don't have permanent resident status, you must sign a Declaration of Intent to become a U.S. citizen. This document is a critical part of your eligibility package. Your lender will guide you on the specific form and requirements during underwriting.
Official sources
SOP 50 10 — Lender and Development Company Loan Programs
U.S. Small Business Administration · SBA Standard Operating Procedure
Last checked 2026-06-15. Official sources control — verify before relying on any rule for a live deal.
Related terms
Common questions about Declaration of Intent
- Can I use a secured personal line of credit as part of my equity injection?
- Can a seller-financed portion of the sale be considered part of my equity injection?
- Can a buyer's assumption of existing business debt count as part of the equity injection?
- Can I use funds from a personal line of credit as part of my equity injection?
- Can funds from an unsecured personal line of credit be considered part of my equity injection?
- Do all owners of an acquiring business, regardless of ownership percentage, need to provide a personal guaranty?
Defined by CapBench SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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