{"ok":true,"canonical_url":"https://dealroom.so/for-lenders/questions/when-is-a-personal-financial-statement-sba-form-413-required-for-non-owner-guarantors-of-a","api_url":"https://dealroom.so/api/public/questions/when-is-a-personal-financial-statement-sba-form-413-required-for-non-owner-guarantors-of-a","question":"When is a personal financial statement (SBA Form 413) required for non-owner guarantors of a 7(a) loan?","topic":"Required forms","audience":"lender","bot_mode":"lender","short_answer":"A Personal Financial Statement (SBA Form 413) is generally required for all individuals providing a personal guaranty, regardless of whether they are owners, to assess their financial strength.","rule":"Any individual who is required to provide an unconditional personal guaranty must submit a Personal Financial Statement (SBA Form 413 or equivalent). This includes owners of 20% or more, individuals with control, and any other required guarantors, such as spouses in community property states or those needed to bolster the credit. The form provides a snapshot of their assets, liabilities, and net worth.","example":"A husband owns 100% of the business, and the wife, though not an owner, is required to provide a personal guaranty due to community property laws. Both the husband and wife must complete and submit SBA Form 413.","what_lenders_check":"Lenders must ensure all required guarantors complete Form 413 accurately and completely. Failure to obtain and review these statements can lead to an incomplete credit analysis and potentially impact the ability to pursue collateral during liquidation.","required_facts":["Personal guarantor","Ownership percentage","Community property state","Financial strength assessment","Form 413 requirement"],"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":"Which additional SBA forms are universally required for all 7(a) loan applications, beyond the borrower information form?","url":"https://dealroom.so/for-lenders/questions/which-additional-sba-forms-are-universally-required-for-all-7-a-loan-applications-beyond-t"},{"question":"What specific certifications on SBA Form 1919 are critical for an applicant's eligibility, and how does a lender verify them?","url":"https://dealroom.so/for-lenders/questions/what-specific-certifications-on-sba-form-1919-are-critical-for-an-applicant-s-eligibility-"},{"question":"Is SBA Form 1920 (Lender's Application for Guaranty) still required for 7(a) loan submissions?","url":"https://dealroom.so/for-lenders/questions/is-sba-form-1920-lender-s-application-for-guaranty-still-required-for-7-a-loan-submissions"},{"question":"What is the primary purpose of SBA Form 1919 for eligibility?","url":"https://dealroom.so/for-lenders/questions/what-is-the-primary-purpose-of-sba-form-1919-for-eligibility"},{"question":"Beyond Form 1919, which other SBA forms are strictly mandatory for all 7(a) loan applications, regardless of loan size?","url":"https://dealroom.so/for-lenders/questions/beyond-form-1919-which-other-sba-forms-are-strictly-mandatory-for-all-7-a-loan-application"},{"question":"Which specific eligibility certifications are collected on SBA Form 1919 that are crucial for a 7(a) loan application and must be verified by the lender?","url":"https://dealroom.so/for-lenders/questions/which-specific-eligibility-certifications-are-collected-on-sba-form-1919-that-are-crucial-"}],"related_terms":[{"term":"Personal financial statement","url":"https://dealroom.so/glossary/personal-financial-statement"},{"term":"Statement of Affiliation","url":"https://dealroom.so/glossary/statement-of-affiliation"},{"term":"Financial Statement","url":"https://dealroom.so/glossary/financial-statement"},{"term":"Guarantors","url":"https://dealroom.so/glossary/guarantors"},{"term":"Statement of Personal History","url":"https://dealroom.so/glossary/statement-of-personal-history"},{"term":"SBA Form 148","url":"https://dealroom.so/glossary/sba-form-148"}],"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":"2026-06-13","sba_rule_sources_checked_through":"2026-06-13"},"citation":{"label":"DealRoom.so SBA 7(a) Q&A","url":"https://dealroom.so/for-lenders/questions/when-is-a-personal-financial-statement-sba-form-413-required-for-non-owner-guarantors-of-a","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."]}