When completing SBA Form 2462 for City Wide, what is the restriction on altering the text?

According to City Wide's 2025 Franchise Disclosure Document, when completing SBA Form 2462, franchisees are restricted from altering the text, except to insert information required to complete the form. The form has three locations with drop-down menu options that must be completed first. Once a drop-down option is chosen, the user must hit the "tab" key to automatically populate the appropriate term in all fields. The remaining fillable fields must be completed manually. These fields will either be blank or contain the language "(Enter type of)" or "(type of agreement)." In each of these fields, the franchisee must enter the type of agreement, e.g., franchise, license, dealer, membership, etc.

This restriction ensures that the core language of the SBA form remains consistent and compliant with SBA requirements. By limiting alterations, City Wide and its franchisees can avoid potential issues with loan approvals or compliance with SBA guidelines. This also helps maintain uniformity in the application process across all City Wide franchisees seeking SBA-guaranteed loans.

Prospective franchisees should pay close attention to these instructions to ensure they complete the SBA Form 2462 correctly. Failure to adhere to these guidelines could result in delays or complications in securing SBA financing, which is often a critical component of funding a new franchise business. Therefore, understanding and following these instructions is an important step in the franchise acquisition process.