SBA Form 413: How to Complete Your Personal Financial Statement

Who must complete Form 413

For 7(a), 504 and surety bonds: each proprietor, each general partner, the managing member of an LLC, each owner of 20% or more, and any person providing a guaranty.

That list comes straight from the current form, available on SBA's Form 413 page (checked October 2026). The page lists the form's uses as 7(a) loans, 504 loans, disaster loans, surety bond guarantees, the Women-Owned Small Business program and the 8(a) program.

For 20% owners, the form says to include the assets of the owner's spouse and any minor children. Disaster loan applicants follow a slightly different list. For 8(a) and women-owned certifications, the form is used to test economic disadvantage, and a married applicant's spouse completes a separate form unless legally separated.

You return it to whoever is processing the application: the lender for 7(a), the Certified Development Company for 504.

What the form asks for, section by section

A summary of assets and liabilities, then eight detail sections covering income, notes payable, securities, real estate, other property, unpaid taxes, other liabilities and life insurance.

How to value assets without getting flagged

Use current, supportable values: statement balances for accounts, realistic market value for property, and only cash surrender value for life insurance.

• Cash and investments: use the balance on your most recent statement.
• Retirement accounts: list the balance and describe the account in Section 5.
• Real estate: use a realistic market value, such as a recent appraisal or comparable sales, not a hopeful asking price.
• Vehicles: list year, make and model, and use a typical used-vehicle value.
• Life insurance: only the cash surrender value counts, never the death benefit.
• Business ownership: follow your lender's instructions; it is easy to double count.

Inflated values are the fastest way to lose a lender's trust, because underwriters will check them against appraisals, tax returns and credit reports.

Contingent liabilities owners forget

List personal guaranties on other debts, co-signed loans, pending legal claims and judgments; omissions here cause most rework.

Contingent liabilities are debts you may have to pay if someone else does not. Common ones:

• Personal guaranties on equipment leases, business cards, other loans or an office lease.
• Loans you co-signed for a family member.
• Lawsuits, claims or judgments against you.
• Tax provisions you expect to owe.

Lenders cross-check your credit report and public records. If a guaranty shows up there but not on your form, expect questions. Our guide to the personal guarantee explains why these matter.

Dates, signatures and the false-statement warning

The information must be current within 120 days of submission for 7(a) and 504, you must sign the certification, and knowingly false statements are a federal crime.

The form requires an "as of" date. For 7(a), 504, surety bond, 8(a) and women-owned applications, it must be within 120 days of submission; for disaster loans, within 90 days. Separately, SBA's lending rules require the lender to have a personal financial statement from each guarantor dated within 90 days of loan approval, so a long approval may mean updating it.

The signature certifies the information is true and complete. The form cites federal false-statement laws carrying fines and prison time. Accuracy matters more than presentation.

A prep checklist to finish in one sitting

Download every statement first, list every debt from your credit report, then fill the form from those documents.

1. Pull your personal credit report and list every open account and balance.
2. Download current statements for all bank, investment and retirement accounts.
3. Gather mortgage statements and a supportable value for each property.
4. List every guaranty, co-signed loan and legal claim.
5. Fill the summary page last, after the detail sections, so the totals match.
6. Confirm net worth equals total assets minus total liabilities.
7. Sign, date and keep a copy for updates.

Form 413 is one part of the SBA package. See the full loan application checklist.

Funding that does not need a personal financial statement

Many non-SBA products are underwritten mainly on business bank statements, so they skip Form 413 entirely.

If the SBA timeline does not match your need, ROI Funder's working capital, revenue-based financing and term loans typically require only the online application plus 3 months of business bank statements. Approved, complete files can fund the same business day for businesses with 6+ months of history, $20,000+ monthly revenue and 500+ FICO. See low-doc business loans.