{"ok":true,"canonical_url":"https://dealroom.so/sba-loans/basics/what-types-of-personal-financial-statements-are-required-for-an-sba-7-a-loan","api_url":"https://dealroom.so/api/public/questions/what-types-of-personal-financial-statements-are-required-for-an-sba-7-a-loan","question":"What types of personal financial statements are required for an SBA 7(a) loan?","topic":"Application documents","audience":"new","bot_mode":"buyer","short_answer":"For an SBA 7(a) loan, all owners with 20% or more equity must submit a Personal Financial Statement (SBA Form 413) detailing assets, liabilities, and net worth.","rule":"SBA Form 413, the Personal Financial Statement, provides a comprehensive overview of the principal's financial position, including cash, investments, real estate, debts, and contingent liabilities. This information is critical for the lender to assess the individual's ability to support the business and their capacity for a personal guarantee.","example":"An owner would list their bank account balances, stock portfolio, value of their primary residence and other real estate, vehicle values, and then list all corresponding mortgages, credit card debts, and other loans. The form calculates their net worth.","what_lenders_check":"Lenders scrutinize the Personal Financial Statement for accuracy, completeness, and consistency with other submitted documents. They are particularly interested in the liquidity of assets and the potential for additional collateral or support for the business.","required_facts":["SBA Form 413","Assets & liabilities","Net worth calculation","20% owners submit","Financial support assessment"],"source_families":["SOP 50 10 - Lender and Development Company Loan Programs","13 CFR Part 120 - Business Loans"],"official_sources":[{"title":"SOP 50 10 - Lender and Development Company Loan Programs","url":"https://www.sba.gov/sites/default/files/2025-05/SOP%2050%2010%208%20Technical%20Updates%20effective%206.1.2025.docx"},{"title":"13 CFR Part 120 - Business Loans","url":"https://www.ecfr.gov/current/title-13/chapter-I/part-120"}],"related_questions":[{"question":"What documents will I generally need to apply for an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/what-documents-will-i-generally-need-to-apply-for-an-sba-7-a-loan"},{"question":"What is the role of my business plan in getting an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/what-is-the-role-of-my-business-plan-in-getting-an-sba-7-a-loan"},{"question":"What are the common documents and financial information I'll need for an SBA 7(a) application?","url":"https://dealroom.so/sba-loans/basics/what-are-the-common-documents-and-financial-information-i-ll-need-for-an-sba-7-a-applicati"},{"question":"What documents do I need to provide about my business for an SBA 7(a) application?","url":"https://dealroom.so/sba-loans/basics/what-documents-do-i-need-to-provide-about-my-business-for-an-sba-7-a-application"}],"related_terms":[{"term":"SBA 7(a) loan","url":"https://dealroom.so/glossary/sba-7-a-loan"},{"term":"7(a) loan","url":"https://dealroom.so/glossary/7a-loan"},{"term":"SBA 7(a) Loan Program","url":"https://dealroom.so/glossary/sba-7-a-loan-program"},{"term":"SBA 7(a) loan guaranty","url":"https://dealroom.so/glossary/sba-7-a-loan-guaranty"},{"term":"SBA 7(a) program","url":"https://dealroom.so/glossary/sba-7-a-program"},{"term":"Standard 7(a) loan","url":"https://dealroom.so/glossary/standard-7-a-loan"}],"related_tools":[{"name":"SBA 7(a) payment & fee calculator","url":"https://dealroom.so/sba-7a/calculator"},{"name":"Find an active SBA 7(a) lender","url":"https://dealroom.so/lenders"}],"data_freshness":{"last_reviewed":"2026-06-14","sba_rule_sources_checked_through":"2026-06-14"},"citation":{"label":"DealRoom.so SBA 7(a) Q&A","url":"https://dealroom.so/sba-loans/basics/what-types-of-personal-financial-statements-are-required-for-an-sba-7-a-loan","source_type":"DealRoom Q&A"},"caveats":["Grounded in the current SBA rulebook; verify against official sources before relying on it for a live deal.","Not legal, tax, or financial advice and not an approval decision."]}