sba form 413

Get the free sba form 413 2021-2022

OMB APPROVAL NO.: 32450188 EXPIRATION DATE: 05/31/2024PERSONAL FINANCIAL STATEMENT U.S. SMALL BUSINESS ADMINISTRATION The purpose of this form is to collect information about the Business Applicant
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Who needs a Form SBA 413?

SBA Form 413 — the Personal Financial Statement is needed for SBA loan applicants to provide information on loan eligibility based on their own and their spouse’s personal net worth. This form is useful to those who apply for the following types of loans:

    7(a) loans to the lender processing the SBA application;

    504 loans to the Certified Development Company processing the SBA application;

    ALL Disaster loans to the Disaster Processing and Disbursement Center at 14925 Kingsport Road, Fort Worth, TX 76155-2243; and

    8(a)/BD — applicants and their spouses who are claiming socially and economically disadvantaged status.

This form should be completed for: 1) every business owner, 2) general partner, 3) managing member of an LLC, 4) each owner of 20% or more of the equity of the applicant (including the assets of the owner’s spouse and any minor children); and 5) any person providing the guarantee on the loan.

What is Form SBA 413 for?

Form SBA 413 provides comprehensive information on the financial status of the applicant. The form consists of three pages. The first provides information on the applicant’s assets and liabilities, the following two concretize and broaden the information submitted on the first page of the document.

Is Form SBA 413 accompanied by other forms?

You should note that filing this form requires gathering a vast number of supporting documents. To complete a fillable SBA 413 form you should provide the following documents:

List of Assets:

    Ownership records for cars, houses and other significant personal possessions;

    Current balance statements (account statements, monthly statements, etc.) confirming dollar amounts that you specify in the form. The information must be relevant and related to the period of the last month;

    Proof of the current value of assets (appraisals, county tax assessments, etc.) for every house, car or substantial property.


    Loan and mortgage statements of any kind (car, house, boat, etc.) including a current balance statement showing balance owed;

    Credit card statements including information on the credit card, even if it indicates a zero balance;

    Notes payable to banks such as HELOT, 2nd mortgage, student loans, personal loans, shareholder/member loans, etc.

Sources of income:

    The amount of your current annual salary;

    The sum of net investment income, which you can get in the current year;

    The sum of all income from private property that you own for the current year;

    The amount of any other income. For example, disability benefits, awards, and scholarships.

How do I fill out Form SBA 413?

Pay attention to the expiration date specified in the upper right corner of the form. The SBA 413 form must comply with this expiration date.

The “As of” Date’’ field indicates the specified due date for the information provided. Usually, this date should be the last day of the previous month.

You should provide your personal information and specify the following points:

    On your assets: 1) cash on hand & in banks 2) savings accounts 3) IRA and other retirement accounts 4) accounts & notes receivable 5) life insurance — cash surrender value only 6) stocks and bonds 7) real estate 8) automobiles

    On your liabilities: 1) accounts payable 2) notes payable to banks and others 3) installment account (auto and other) 4) loans on life insurance 5) mortgages on real estate 6) unpaid taxes

Once you have finished filling the form, you should sign it and place SBA 413 with other documents into one envelope. Now your SBA 413 form is ready to be sent.

Where do I send Form SBA 413?

There are two mailing addresses depending on the state in which your firm is located. The first page of the filler’s SBA 413 form gives a list of states and specifies the address where you should send the completed form.

Video instructions and help with filling out and completing sba form 413
Instructions and Help about sba form 413 pdf
The question I'm not going to answer the question that I'm going to answer today is how to complete the personal financial statement correctly this is a common question because the personal financial statement is often completed incorrectly causing delays and even loan declines, so I'm going to answer this in two videos first video is going to show you how to complete the personal financial statement correctly which will save you time and headache the second video is going to show you how the bank will interpret your personal financial statement which will help you identify the strengths and weaknesses of your personal financial statement, and you'll be able to make some adjustments hopefully prior to submission of your personal financial statement personal financial statements also called the PFS just the acronym for it okay so couple quick things you only have one time to give your first impression so let's do it right, so the personal financial statement is a personal document to reflect you and your spouse's financial situation not your businesses not any third parties your uncle's financial information any money they're going to give you etcetera it is to reflect you and your spouse the form that we're going to go over today is called the SBA form 4:13 this is issued by the SBA, and it is required if you are completing an SBA loan and if you're not doing an SBA loan it's a good form to know most banks use it anyway and if you have one of their personal financial statements you can typically just sign their form and then use this one instead okay so let's get started up in the top right here you are going to see expiration date the first thing you want to make sure is that the form is current this one expires September 2014 below that you're going to see an as of date this is where you are going to put the date as all this information is based on I suggest let's pretend today is July 15th, so I would have you print off all of your documents your bank statements your credit card statements your mortgage statements your car loans every financial doubt your stock certain stock information all of those documents as of 6:30, so you want to do go back to the previous month and print off all your documents ending with the last day of the month, so I would put 6:30 up here if it was 7:15 today okay down towards the first third of the second third of the page you're going to see name this is for you and your spouse's name the rule is this if you file a tax return joint then both of those names are to be listed on the personal financial statement just because your spouse is listed does not mean that he or she is a guarantor on the loan, but it does represent that you two own assets together okay residents address is below that I recommend putting wherever you live currently that's usually your personal or primary residence however it could be an apartment, or you could be wherever you're living currently below that is business name and applicant name...
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