Balances from different dates
The form asks for every figure as of one statement date. A checking balance from today next to a brokerage balance from last quarter reads as careless and invites a redo.
SBA Form 413, filled from your balances, attachments included.
SBA Form 413 is the personal financial statement SBA requires on 7(a), 504, disaster, and surety bond applications and for 8(a) and WOSB certification. Each proprietor, general partner, managing member, 20%-or-more owner, and guarantor completes one, dated within 90 days of submission for 7(a) and 504 loans submitted from October 1, 2026. The printed form still says 120 days; SOP 50 10 8.1 sets 90. Connect your accounts and StatementsReady fills the bank, brokerage, and loan lines from synced balances, carries your properties and private holdings forward once you enter them, writes the overflow attachments, and exports one PDF you can sign in the app. The guide below covers each line if you would rather fill it by hand.
Read from the 05-24 edition, effective February 13, 2025
Who files,
by program.
The form's first page lists who must complete it and where it goes.
| Program | Who completes it | Return it to |
|---|---|---|
| 7(a) loans | Each proprietor, general partner, managing member of an LLC, owner of 20% or more (including a spouse's and minor children's assets), and anyone guaranteeing the loan | The lender processing the application |
| 504 loans | Same list as 7(a) | The Certified Development Company (CDC) |
| Surety bonds | Same list as 7(a) | The surety company or agent |
| Disaster business loans | Each applicant, general partner, managing member, owner of 20% or more, and anyone giving an unlimited guaranty | SBA's Disaster Processing and Disbursement Center |
| 8(a) and WOSB programs | Each individual claiming economic disadvantage, and a separate form from their spouse unless legally separated | Through certify.sba.gov, with the certification application |
Microloan intermediaries set their own paperwork. Many use Form 413 or a personal financial statement of their own design, so ask the intermediary which they want. SBA Express is a 7(a) variant and follows the 7(a) list.
What the form
asks for.
Whole dollars, personal not business, jointly owned items divided with your spouse.
Assets
- Cash on hand and in banks
- Savings accounts
- IRA or other retirement account
- Accounts and notes receivable
- Life insurance, cash surrender value
- Stocks and bonds
- Real estate
- Automobiles
- Other personal property
- Other assets
Liabilities
- Accounts payable
- Notes payable to banks and others
- Installment accounts, auto and other
- Loans against life insurance
- Mortgages on real estate
- Unpaid taxes
- Other liabilities
Page 2 totals assets and liabilities and holds Section 1. Pages 3 and 4 describe the lines that need detail, in eight numbered sections. Every section ends in a certification signed under penalty of criminal prosecution, so the numbers need to match your statements.
Section 1. Source of income and contingent liabilities
Salary, net investment income, real estate income, and other income, each as an annual figure. Beside it, contingent liabilities: loans you have endorsed or co-signed, legal claims and judgments, provision for federal income tax, and other special debt. Alimony or child support goes in other income only if you want it counted.
Section 2. Notes payable to banks and others
Each personal note: who you owe, original balance, current balance, payment amount and frequency, and how it is secured. The main form has 5 lines; more go on a signed attachment.
Section 3. Stocks and bonds
Number of shares, name of the security, cost, market value, date of the quotation, and total value. 4 lines on the main form.
Section 4. Real estate owned
Each parcel on its own: type, address, date purchased, original cost, present market value, mortgage holder and account number, mortgage balance, payment, and mortgage status. 3 parcels fit on the main form.
Section 5. Other personal property and other assets
Vehicles, boats, collectibles, business interests, and anything else of value. If an item is pledged as security, name the lienholder, the amount owed, the payment terms, and whether the debt is current.
Section 6. Unpaid taxes
Type of tax, who it is owed to, when it is due, the amount, and whether a lien attaches to any property.
Section 7. Other liabilities
Anything owed that has no line above: credit cards, medical bills, private debts, described in detail.
Section 8. Life insurance held
Face amount, cash surrender value, insurer, and beneficiaries for each policy. The statement counts the cash surrender value, never the death benefit.
When the form
runs out of room.
The main form has fixed lines. Anything past them goes on an attachment labelled as part of the form.
| Section | Room on the form | Past that |
|---|---|---|
| Section 2, notes payable | 5 lines | Extra notes go on an attachment |
| Section 3, stocks and bonds | 4 lines | Extra holdings go on an attachment |
| Section 4, real estate | 3 parcels | Extra properties go on an attachment |
How to fill it out,
line by line.
Pull a statement for each account first. Every balance is as of the one date at the top of the form.
Check the program and date the form
Tick the box for 7(a), 504, surety bond, disaster, 8(a), or WOSB. The "as of" date sets the day every balance must match. For 7(a) and 504 loans submitted from October 1, 2026 it must fall within 90 days of submission (SOP 50 10 8.1), even though the form prints 120; for disaster loans, 90.
Name, address, and business
Full legal name as it appears on your ID, your home address (a P.O. box will be questioned), and the legal name of the applicant business rather than a DBA.
Cash on hand and in banks
Checking, money market, and CD balances on the statement date, rounded to the dollar. Savings has its own line directly below.
IRA or other retirement account
The vested balance of 401(k)s, IRAs, 403(b)s, and pensions with a stated balance. List the gross figure; some lenders discount it for taxes and penalties, and they will tell you if they do.
Accounts and notes receivable
Money owed to you personally: loans you made, seller-financed notes you hold, collectible judgments. Amounts owed to your business belong on the business balance sheet.
Life insurance, cash surrender value
What the insurer would pay you to cancel today. Term policies have no cash value and go on as zero. Detail each policy in Section 8.
Stocks and bonds
Market value at the close on the statement date, detailed in Section 3. More than 4 holdings means a signed attachment.
Real estate
Present market value you can defend, detailed parcel by parcel in Section 4. Use a recent appraisal or comparable sales; the lender will appraise.
Automobiles and other property
Vehicles at private-party market value, with loans listed on the liability side rather than netted out. Other property and other assets go in Section 5.
Liabilities, line by line
Accounts payable, notes payable (Section 2), auto and other installment accounts, loans against life insurance, mortgages (Section 4), unpaid taxes (Section 6), and other liabilities (Section 7). Mortgage balances must match the parcels in Section 4.
Net worth
Total assets minus total liabilities. The form checks itself: total liabilities plus net worth must equal total assets.
Section 1: income and contingent liabilities
Annual income by source. Then every loan you have endorsed or co-signed, any legal claim, and any special debt. Lenders cross-check contingent liabilities against credit and UCC records.
Sign, and have your spouse sign when required
Each person submitting the form signs the certification. The spouse of a 20%-or-more owner signs too whenever spousal assets are included. Print your name and Social Security number beside each signature and date it.
For every line with worked examples, read how to fill out SBA Form 413, or see a completed Form 413 for a $350K 7(a) loan. Before you submit, check it against the seven most common Form 413 mistakes.
What sends
the form back.
Eight things a lender's reviewer checks first.
Contingent liabilities left blank
A co-signed car loan or a guarantee on a friend's lease is a contingent liability. Lenders find them on credit reports and in UCC filings; a blank line looks like concealment.
Property at the asking price
Present market value means a number an appraiser would agree with. Inflated values cost credibility and, under the certification you sign, can count as a false statement.
Face value instead of cash surrender value
A $500,000 term policy goes on this form as $0, because the asset is the cash surrender value, which only a permanent policy has.
A missing spouse signature
When a 20%-or-more owner includes spousal assets, the spouse must sign the certification. An unsigned form goes back the same day.
Small items skipped
The $600 card balance and the $1,500 credit union account still belong on the form. The lender will see them on your statements and wonder what else is missing.
Retirement balances valued the lender's way, or not
Some lenders count the full vested balance; others discount it for taxes and early withdrawal. Ask before you submit rather than after the underwriter adjusts it.
Mortgage balances that disagree with Section 4
The mortgage total on the liability side must equal the sum of the balances listed parcel by parcel. A mismatch is the first thing a reviewer checks.
Filled from
your statement.
One statement in StatementsReady exports as Form 413, attachments and all.
Bank, brokerage, and loan balances sync read-only through Plaid. Properties, notes, and private holdings are entered once. On export, the first 4 securities, 3 properties, and 5 notes land on the main form and the rest are written to labelled attachments, all in one PDF. Sign it in the app, invite a co-signer by link, and when a lender wants newer figures, click Sync All and export again. The standard bank PFS and the Chase form come from the same statement.
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Common questions.
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Who has to complete SBA Form 413?
For 7(a) and 504 loans and surety bonds: each proprietor, each general partner, each managing member of an LLC, each owner of 20% or more of the applicant (including the assets of that owner's spouse and minor children), and anyone providing a guaranty on the loan. Disaster loans use a similar list with an unlimited-guaranty test.
How recent does the form have to be?
For 7(a) and 504 loans submitted from October 1, 2026, within 90 days of submission, under SBA SOP 50 10 8.1. The window printed beside the date field still reads 120 days for 7(a), 504, surety bond, 8(a), and WOSB, because SBA has not reissued the form; lenders on 7(a) and 504 files work from the SOP. Disaster loans stay at 90 days.
Which version of the form is current?
The edition marked 05-24, in use since February 13, 2025, with OMB approval 3245-0188 expiring August 31, 2027. Lenders reject earlier editions, so check the edition date in the footer of whatever you submit rather than reusing last year's file.
Does my spouse have to sign?
When a 20%-or-more owner includes spousal assets on the form, the spouse signs the certification too. For 8(a) and WOSB applications the spouse completes a separate Form 413 unless legally separated. Lenders in community property states (AZ, CA, ID, LA, NV, NM, TX, WA, WI) usually ask for spousal assets to be included.
What if I have more than 3 properties?
Section 4 has room for 3 parcels. The rest go on an attachment that is labelled as part of the form. The same applies to more than 4 stocks and bonds in Section 3 and more than 5 notes in Section 2. StatementsReady builds those attachments for you and exports them with the form as one PDF.
Can I sign SBA Form 413 electronically?
The form asks for a signature and a date and does not say how. Ask your lender whether they accept an e-signed PDF. StatementsReady lets you and any co-signer sign the exported form in the app.
What are the penalties for a false statement?
The form's notice cites 18 U.S.C. 1001 and 3571: up to 5 years in prison and a fine of up to $250,000. A false statement to a federally insured bank falls under 18 U.S.C. 1014, with up to 30 years and $1,000,000. Civil penalties under the False Claims Act can follow. Conservative, documented values are the protection.
What if my net worth is negative?
A negative net worth is one input among several. Lenders weigh business cash flow, collateral, and other guarantors alongside it. List everything accurately; a negative number with an explanation holds up better in underwriting than a positive one that falls apart.
Can I submit a different personal financial statement instead?
The SBA file needs Form 413 in the current edition, whatever else the lender collects. Many lenders also accept their own PFS for internal review. StatementsReady exports Form 413 and the standard PFS from the same statement.
Do I need to update Form 413 every year?
The application needs one dated within the window above. After funding, many lenders ask for a fresh personal financial statement at annual review and some loan covenants require it. WOSB participants must update the form at least annually.
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