SBA loan basics
Short answer
SBA Form 413, the Personal Financial Statement, is used to detail an applicant's personal assets, liabilities, and net worth. It must be completed by all owners of 20% or more of the business and any other guarantors.
SBA Form 413 provides a snapshot of the personal financial health of the business principals. Lenders use this information to assess the applicant's creditworthiness, evaluate the personal guaranty's strength, and confirm the source and sufficiency of the equity injection. All individuals who will personally guarantee the loan, typically 20% or greater owners, must complete this form.
A husband and wife each own 50% of a business. Both would need to complete a separate SBA Form 413, listing their individual assets (cash, investments, real estate), liabilities (mortgages, credit card debt), and calculating their personal net worth.
SOP 50 10 - Lender and Development Company Loan Programs
Last checked 2026-06-13. Official sources control — verify before relying on any rule for a live deal.
Last reviewed 2026-06-13 · SBA sources checked through 2026-06-13. 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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