How to Fill Out SBA Form 413 (Personal Financial Statement)

Last updated July 2026.

Quick answer: SBA Form 413 is the personal financial statement the SBA uses to judge the creditworthiness of everyone behind a loan. Every proprietor, general partner, managing member, and any owner with a 20 percent or larger stake must complete it, including their spouse's and minor children's assets and liabilities. You list assets (cash, retirement, real estate, other property), liabilities (mortgages, car loans, credit cards, taxes owed), income sources, and any contingent liabilities. With your account balances in hand it takes about 30 minutes.

The form itself is short, but people slow down because the numbers live in a dozen different statements. Below is what each section wants and how to gather the figures without hunting through PDFs.

Who has to complete SBA Form 413?

For a 7(a) or 504 loan, the SBA requires a Form 413 from each of the following: every sole proprietor, each general partner, each managing member of an LLC, every owner holding 20 percent or more of the business, and anyone else guaranteeing the loan. You must include your spouse's assets and liabilities and those of any minor children. Reporting a spouse's finances does not automatically make them a guarantor; the SBA just needs to see joint accounts and shared debts to judge the household's real position.

What you need before you start

Gather your most recent account and debt balances so every figure is current as of one date. Pull recent bank and investment statements, retirement account statements, your latest mortgage and auto loan statements, credit card balances, life insurance statements showing cash surrender value, and any note or tax balances you owe. Working from one recent statement per account keeps the whole form tied to a single "as of" date, which is exactly what the reviewer expects.

Section-by-section walkthrough

At the top of the form, check the box for the program you are applying under (7(a), 504, disaster, surety bond, and so on) and fill in your name, business address and phone, and home address and phone. Then work through the two columns: Assets on the left, Liabilities on the right.

If an asset or liability does not apply to you, enter $0 or N/A rather than leaving it blank, so the reviewer knows you did not skip it. Then complete the supporting schedules that the summary lines point to:

• Section 1, Source of Income: salary, net investment income, real estate income, and other income. Do not report alimony or child support unless you want it counted.
• Section 2, Notes Payable to Banks and Others: each loan, its balance, payment amount, frequency, and how it is secured.
• Section 3, Stocks and Bonds: each holding, number of shares, and current value.
• Section 4, Real Estate Owned: address, purchase price and date, present value, mortgage balance, and payments.
• Section 5, Other Personal Property and Other Assets: vehicles, equipment, and anything not listed above.
• Section 6, Unpaid Taxes, and Section 7, Other Liabilities: any tax debt or obligations not already captured.
• Section 8, Life Insurance Held: face amount, cash surrender value, and beneficiaries.

Sign and date the bottom. An unsigned Form 413 is an incomplete application and will bounce back to you.

Where bank statements make this faster

Two of the hardest lines to get right are cash on hand and your monthly debt payments, because both are buried in statement PDFs. Converting your recent bank and loan statements into a spreadsheet lets you read the ending balances and recurring payments at a glance instead of scrolling. Our bank statement converter pulls those PDFs into clean rows with the running balance intact, so the cash figure and each loan payment are easy to copy across. The same prep supports the rest of your SBA package: once the statements are in a spreadsheet you can build the profit and loss view the lender also wants, and pull it all together into board-ready financial statements for the file.

How Form 413 fits the rest of your SBA package

Form 413 does not stand alone. The SBA and your lender read it next to your business tax returns, your business bank statements, a business debt schedule, and often a personal tax return. The reviewer cross-checks figures between them: the cash you list on Form 413 should agree with your bank balances, and the income sources you report should line up with what your returns and deposits show. Treat the whole package as one story. A Form 413 that quietly contradicts your statements invites a round of questions that can add a week or two to your timeline, so it pays to have every supporting document converted and reconciled before you fill in a single box.

Common mistakes to avoid

The three that slow files down most: leaving lines blank instead of writing $0 or N/A, using the death benefit instead of the cash surrender value for life insurance, and dating different sections as of different days. Pick one "as of" date, use the latest statement for every account, and keep the numbers consistent with the rest of your application. If the cash on Form 413 does not match the ending balance on the bank statements your SBA lender requested, expect a question.

The bottom line

SBA Form 413 is a snapshot of your personal finances as of one date, filed by every 20 percent owner and guarantor, spouse and minor children included. Gather current statements first, fill every applicable line (and mark the rest $0 or N/A), complete the supporting schedules, and sign it. Convert your bank and loan PDFs to a spreadsheet before you start and the whole form is a half-hour job instead of an afternoon.