One lender, once
A single bank asked for a personal financial statement and will not ask again for a year. Fill the template, sign it, send it.
A template is fine until the second request.
A personal financial statement can be built in a free Excel template or in software that syncs balances from your banks. The template wins on price and works for a one-off request. Software wins when the request repeats, the lender wants a different layout, or the balance sheet has more lines than you want to retype. This page lays out where each one stops being the right tool.
The Excel template here is free, no email address
Side
by side.
Task by task. Both produce the same one-page statement.
| Task | Excel template | StatementsReady |
|---|---|---|
| Filling in balances | You type each one | Synced from your banks, read-only |
| The math | Your formulas | Totalled for you, every section |
| Next lender, next year | Start over | Refresh balances, export again |
| A different form | Re-enter everything | Export the PDF, SBA 413, or Word file |
| Signing | Print, sign, scan | Sign in the app, co-signers by link |
| Sending it | Email a PDF | Expiring link you can revoke |
| Cost | Free | $79 once, or from $29 a month |
When the template
is enough.
Three cases where the free download is the right answer.
A short balance sheet
A checking account, a 401(k), one mortgage, one car. Ten lines and the math is easy to check by eye.
You like the spreadsheet
Some people keep a net worth sheet for years and never miss a month. If that is you, the template works.
When software
earns its price.
Any one of these is usually the tipping point.
- A lender asks every year, or several lenders do
- You own more than one property, or a business, or both
- The lender wants SBA Form 413 or the Chase form as well as a standard statement
- Balances change faster than you update the sheet
- A co-signer or spouse has to sign too
- You would rather send an expiring link than an email attachment
The mechanics behind the difference: StatementsReady connects to banks, brokerages, and lenders read-only through Plaid, so balances refresh with one click instead of a dozen logins. Properties, business interests, and contingent liabilities are entered once and, on Pro plans, carried into next year's statement. The same statement exports as a standard PDF, SBA Form 413 with attachments, the Chase form, or an editable Word or Excel copy, and it is signed in the app and shared by a link that expires. A spreadsheet does none of that, and for one request it does not need to.
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Common questions.
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Is an Excel template good enough for a bank?
Usually, for a one-off request. Banks want the numbers, a date, and a signature, and a clean template delivers all three. The cost shows up on the second request, when the sheet is stale and the lender wants a different layout.
Can I use an Excel template for an SBA loan?
Only as a worksheet. SBA requires Form 413 in the current edition, so the figures have to move onto the official PDF. StatementsReady exports Form 413 directly; the Excel template is a way to gather the numbers first.
What does the software cost?
Single is $79 once, for one statement and one lender request. Pro is $29 a month or $290 a year for unlimited statements and always-on bank connections. Both download editable Word and Excel copies. Every account starts with a 7-day trial and no card.
Can StatementsReady export to Excel?
Yes, on any paid plan. The download has one tab that reads like the finished statement and one tab for each schedule. Every total is a live formula, so change a balance and the schedule total, the balance sheet, and net worth all update. Changes you make in the file stay in the file. The free trial exports PDF only.
Does the software replace my CPA?
For the statement itself, most people never needed one. A CPA still matters for valuing a business interest or a complicated tax position, and the notes on each line are a place to record their method.
Start your statement.
Free for 7 days. No credit card.