SBA Form 413: Personal Financial Statement

What Is SBA Form 413?

SBA Form 413 is the Personal Financial Statement required for most SBA loan products, including 7(a) and Express. It details your personal assets, liabilities, income, and expenses. Because SBA loans are personally guaranteed, this form is one of the most important in your application.

It's used to assess your personal net worth and your ability to support the loan guarantee if the business can't repay.

What You'll Report

• Assets: cash, real estate, vehicles, investments, retirement accounts, other property
• Liabilities: mortgages, car loans, credit cards, student loans, other debts
• Income: salary, business income, interest, dividends, other sources
• Expenses: housing, taxes, insurance, loan payments, living costs
• Contingent liabilities: guarantees, lawsuits, or obligations you're exposed to

Common Mistakes to Avoid

• Understating liabilities — lenders verify; hiding debt destroys trust.
• Using the wrong form version — the SBA updated 413 in 2024; old versions get rejected.
• Rounded or guessed figures — use accurate, supportable numbers.
• Forgetting to sign and date — an unsigned 413 sends the whole package back.
• Missing required sections — you must complete all applicable parts for each owner.

These are the errors that quietly add weeks to an application. PrepSBA keeps the current form version and validates your input as you complete it.

Forms That Work Together

Form 413 is typically submitted with SBA Form 1919 (Borrower Information) and your business financials. Together they form the core of your package. See the full 7(a) application guide for the complete picture.