SBA 7(a) Q&A
Short answer
All owners of 20% or more must provide a current Personal Financial Statement (SBA Form 413), detailing assets, liabilities, and net worth, along with supporting documentation for significant items.
The SBA requires a Personal Financial Statement (PFS) from all individuals who own 20% or more of the business to assess their financial condition and global cash flow. This form details cash, investments, real estate, debts, and other assets/liabilities. Lenders use this to understand the individual's ability to inject equity, provide collateral, and support the business if needed.
For an acquisition, the buyer (100% owner) must complete an SBA Form 413, listing their home's value and mortgage, savings accounts, retirement funds, and any other personal debts. The lender will request supporting bank statements, investment account statements, and mortgage statements.
13 CFR Part 120 — Business Loans
Office of the Federal Register · Federal regulation
SOP 50 10 - Lender and Development Company Loan Programs
SBA Form 1919 - Borrower Information Form
Last checked 2026-06-14. Official sources control — verify before relying on any rule for a live deal.
Last reviewed 2026-06-14 · SBA sources checked through 2026-06-14. DealRoom analysis of public SBA 7(a) lending records (FY2020–present). Grounded in the current SBA rulebook; verify against the official sources above before relying on it for a live deal. Not legal, tax, or financial advice, and not an approval decision.
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