Preparing
Do you add a business loan in a personal financial statement?
Only if you are personally liable for it. A guaranteed or co-signed business loan goes under contingent liabilities; a loan with no personal guaranty stays off.
The questions borrowers ask Google.
These are the questions Google shows under 'People also ask' when someone searches for a personal financial statement or SBA Form 413. Each one gets a short answer, checked against the current form and SBA rules, with a link to the guide or tool that goes deeper.
Preparing
your statement.
Who fills it out, what goes on it, and what the lender checks.
Preparing
Can AI do a balance sheet?
It can fill one in from your real documents. An answer typed from memory is a guess, and lenders check guesses against statements.
Preparing
Can I do my own financial statements?
Yes. A personal financial statement is a form you fill out and sign yourself, and lenders expect exactly that.
Preparing
Do you need a CPA to prepare financial statements?
No. The borrower fills it out and signs it; lenders verify it against statements and tax transcripts.
SBA Form 413
and SBA loans.
Eligibility, terms, limits and payments under the rules in effect since October 1, 2026.
SBA
Did Trump just double the SBA loan limit?
Yes for the combined 7(a) plus 504 cap, which went from $5 million to $10 million on July 4, 2026. No for a single loan: a 7(a) still tops out at $5 million.
SBA
Do SBA loans require audited financial statements?
No. SBA 7(a) and 504 loans ask for tax returns, in-house business statements, a debt schedule and a personal financial statement. An audit happens only when a lender asks for one.
SBA
How many years do you have to pay back an SBA loan?
Up to 10 years for working capital, equipment and a business purchase, up to 25 years for real estate. 504 loans run 10, 20 or 25 years.
SBA
How to qualify for a $5 million SBA loan?
$5 million is the 7(a) ceiling, so expect full Standard 7(a) underwriting: eligibility, citizen owners, Form 413 and a guaranty from every 20% owner, full collateral, and cash flow that covers the payment.
SBA
Is it hard to get approved for an SBA loan?
Harder than in 2021 through 2024, by design. SBA restored lender underwriting in 2025 and raised coverage floors in October 2026, and 7(a) loan counts fell about a quarter in fiscal 2026.
SBA
What would the payment be on a $500,000 SBA loan?
About $6,608 a month over 10 years, or $4,544 over 25 years on a qualifying real-estate loan, at the current 10.00% ceiling rate, plus an $11,250 upfront guaranty fee.
SBA
What disqualifies you from getting an SBA loan?
An ineligible business type, an owner who is not a U.S. citizen or national, access to credit elsewhere, or a business that is not small. After that, federal debt and a personal financial statement that does not reconcile.
Already answered
in our guides.
These questions have a full guide behind them, so the link goes straight to the section that answers it.
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