SBA Form 413, the personal financial statement: what it asks and where the numbers come from
Published September 7, 2026 · Updated October 14, 2026
SBA Form 413 is the personal financial statement: a personal balance sheet that each significant owner and guarantor completes so the lender can see the people behind the business: what they own, what they owe, and what they could stand behind a loan with. It sits alongside the business bank statements in an SBA package, and its numbers get verified against account statements, so the job is to fill it in accurately, as of one date, with the paperwork behind every figure ready.
Form versions, thresholds and program rules change; the SBA's current form and your lender's instructions are authoritative. This guide follows the current form (edition 05-24, OMB 3245-0188, expiring 08/31/2027, as posted by the SBA in February 2025). It explains the form; it isn't advice on your application.
How to fill out SBA Form 413, step by step
- Tick the program. Page 1 has boxes for 7(a)/504/surety bonds, disaster loans, WOSB and 8(a). Each one says who completes the form and where to return it.
- Fill in who you are and the "as of" date. Name, addresses, business name and type, and the date the figures are current as of: within 120 days of submission, or 90 days for a disaster loan.
- List assets and liabilities, without cents. Each line points to the section where you give the detail: notes payable in Section 2, stocks and bonds in 3, real estate in 4, other property and assets in 5, unpaid taxes in 6, other liabilities in 7, life insurance in 8.
- Work out net worth. Assets minus liabilities. Total liabilities plus net worth must equal total assets. The form says so on the line.
- Complete Section 1: salary, net investment income, real estate income and other income, plus contingent liabilities: debts you are liable for as endorser or co-maker, legal claims and judgments, provision for federal income tax, and other special debt.
- Fill in the schedules (Sections 2 to 8), attaching a signed separate sheet if a section runs out of room.
- Read the certifications and sign, with your spouse's signature where the program requires it. Return the form to your lender (7(a)), CDC (504), surety, or the SBA disaster center, as page 1 directs.
What the form asks for
| Section | What goes in it | Where the number comes from |
|---|---|---|
| Assets | Cash on hand and in banks, savings, retirement accounts, receivables, life insurance cash value, stocks and bonds, real estate, vehicles, other property | Bank and brokerage statements as of the statement date; appraisals or reasonable market values for property |
| Liabilities | Accounts payable, notes payable, installment loans (auto and other), mortgages, unpaid taxes, other debts | Latest loan and card statements: the payoff balance, not the monthly payment |
| Net worth | Assets minus liabilities | Arithmetic, and the number the lender reads first |
| Income and contingent liabilities | Salary, investment and real-estate income, other income; guarantees, co-signed debts, pending legal claims | Pay records, tax returns, loan documents you've guaranteed |
| Schedules | Sections 2–8: notes payable, stocks and bonds, real estate owned, other property and assets, unpaid taxes, other liabilities, life insurance held | The same statements, itemized: lender, original amount, balance, payment, terms, collateral |
Mistakes that send Form 413 back
- One date for everything. Pick the "as of" date and take every balance from the statement that covers it. A cash figure from March next to a mortgage balance from December is the most common reason a lender asks for a redo.
- Schedules must tie to the totals. If the real-estate schedule lists two properties, the assets line for real estate is their sum, and the mortgages line is the sum of their loans. Lenders add these up.
- Balances, not payments. Liabilities are what you owe today. The monthly payment goes in the schedule's payment column, not the balance.
- Don't leave contingent liabilities blank if they exist. A personal guarantee on the business's existing loan is a contingent liability. Omitting it doesn't hide it: the lender sees the loan on the business side.
- Joint statements. Where a spouse's finances are included, mark the form as joint and include both sets of assets and liabilities consistently.
- Sign and date it. An unsigned statement is not a statement. Note the certification language: figures are attested as true, and knowingly false statements carry legal consequences.
Where the bank statements come in
The cash and savings lines are the ones a lender can check to the cent, and they will: the balances on Form 413 get compared to the bank statements covering the as-of date. Use the statement's printed ending balance, not an app's available balance on a random day. If you hold several accounts, a quick summary sheet (account, statement date, ending balance) is worth attaching, and if those statements are long, converting them to a spreadsheet makes the summary a formula instead of a retype. Never edit a statement to match the form; correct the form.
How it fits with the rest of the package
Form 413 speaks for the owners; the business bank statements, tax returns, interim financials and debt schedule speak for the company. Underwriters read them together: a personal statement showing strong liquidity next to business statements showing repeated overdrafts raises exactly the question you'd expect. Brokers and packagers assembling many applications keep the two streams organized per client, which is the same per-client separation our Firm tier is built around for the statement side.
Questions people ask
- Who has to complete SBA Form 413?
- For 7(a), 504 and surety bonds, the form lists: each proprietor, each general partner, each managing member of an LLC, each owner of 20% or more of the equity (including the owner's spouse's and minor children's assets), and anyone guaranteeing the loan. Disaster loans and the WOSB and 8(a) programs have their own lists on page 1 of the form.
- Is the SBA personal financial statement the same as a personal balance sheet?
- Essentially yes: it lists what you own (assets), what you owe (liabilities), and the difference (net worth) as of a specific date, plus supporting schedules for notes payable, real estate, stocks and bonds, and contingent liabilities, and a short income section. It's a snapshot, not a year's activity.
- What date should the statement be 'as of'?
- The form sets the limit: the information must be current as of a date within 120 days of submission for 7(a), 504, surety bonds, 8(a) and WOSB, and within 90 days for disaster loans. Take every figure as of that same date.
- Do I need to attach bank statements to Form 413?
- The form itself doesn't require attachments, but lenders verify the cash and account balances it lists against statements, so expect to supply them. Business bank statements enter the package separately as evidence of the company's cash flow.
This guide is about file conversion and bookkeeping tooling: it isn't tax, accounting, or legal advice. Verify converted data against the source statement before filing or posting it.