Glossary · People and paperwork
Personal financial statement
In short
This document summarizes your personal assets, liabilities, and net worth. Lenders require it to assess your financial capacity and collateral available for a personal guarantee.
What it means in a deal
You'll submit a Personal Financial Statement (SBA Form 413) as part of your SBA 7(a) loan application. It provides the lender with a complete picture of your personal financial strength, including liquidity and assets available to back your personal guarantee or cover a collateral shortfall.
Official sources
SOP 50 10 — Lender and Development Company Loan Programs
U.S. Small Business Administration · SBA Standard Operating Procedure
SBA Form 1919 — Borrower Information Form
U.S. Small Business Administration · SBA form
Last checked 2026-06-15. Official sources control — verify before relying on any rule for a live deal.
Related terms
Common questions about Personal financial statement
- What if my personal financial statement shows low liquid assets?
- How important is my personal financial statement for an SBA 7(a) loan application?
- What if my personal credit score is strong (e.g., 720), but my personal financial statement shows limited liquid assets?
- What is a 'personal financial statement' and why is it needed for an SBA 7(a) loan?
- What does a 'personal financial statement' entail and why is it needed for an SBA 7(a) loan?
- When is a personal financial statement (SBA Form 413) required for non-owner guarantors of a 7(a) loan?
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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