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SBA Form 413: assembling a personal financial statement
A personal financial statement gathers an applicant’s assets and obligations for a lender. Organize current statements and ownership details before signing, keeping personal balances distinct from the business financial reports.
This guide describes common bookkeeping practice, not a legal or regulatory requirement.
Last reviewed:
General information, not legal or tax advice.
Confirm who needs to complete the form
SBA uses Form 413 to assess repayment ability and creditworthiness. For the listed business loan programs, the form covers proprietors, general partners, managing LLC members, owners of 20% or more and people providing a loan guaranty. Confirm the lender’s request before collecting household financial details.
Choose a supported as-of date
The form’s information date must be within 120 days of submission for the listed 7(a), 504 and related programs, or 90 days for Disaster applications. Gather statements that support the selected date. A recent signature does not make an older account balance current.
Sources: SBA Form 413 (PDF)
Distinguish asset values from related debts
Form 413 lists savings, receivables, cash surrender value of life insurance and real estate among assets, with separate lines for loans and mortgages. Its supporting sections expand notes payable, investments and property. Preserve the supporting statement for each entry and avoid substituting a coverage amount for insurance cash value.
Sources: SBA Form 413 (PDF)
Review attachments and deliver to the right recipient
The form requires each attachment to be identified as part of the statement and signed. Completed 7(a) forms go to the processing lender; 504 forms go to the Certified Development Company. Tidwell can help organize balances, while the signer reviews and certifies the completed information.
Sources: SBA Form 413 (PDF)
Sources: confirm who needs to complete the form
Gather balances for your lender
Tidwell helps reconcile the books and organize supporting schedules for your business decisions. We work with your CPA on tax questions and the financial records they need.