What is an SBA Form 413?

What is an SBA Form 413?

SBA Form 413 gives the U.S. Small Business Administration (SBA) the ability to assess the creditworthiness and financial standing of business owners who apply for government-backed loans. If you plan to apply for a 7(a) or 504 loan from the SBA, expect to lay out your financial situation in SBA Form 413.

What is a personal financial statement example?

For example, if you have a house and a car with a value of $100,000, and you have a mortgage and car loan for $75,000, your net worth is $25,000. Net worth for an individual is similar to owner’s equity for a business. Therefore, a personal financial statement is similar to a business’s balance sheet.

How do you write a personal financial statement?

To create a personal financial statement, follow these simple steps:

1. Create a spreadsheet that has a section for assets and one for liabilities.
2. List your assets and their worth.
3. List every liability as well as its worth.
4. Determine the total of both assets and liabilities.
5. Determine your net worth.

How do I fill out a financial statement form?

How to Fill Out a Personal Financial Statement

1. Complete the identifying information at the top of the personal financial statement.
2. List each asset in the section provided.
3. List each liability in the section provided.
4. Calculate the net worth by subtracting the total liabilities from the total assets.

How do I get my SBA statement?

If you do not have a letter or statement, please contact your Service Center or the main SBA help desk at 800-659-2955 if you do not know your Service Center. How do I see my balance and due date? You need to navigate to the https://caweb.sba.gov site to view your SBA loan information.

How do I fill out a SBA Form 413?

How to Fill out SBA Form 413 in 10 Steps

1. Fill in basic business information.
2. Add information about your assets.
3. Add information about your liabilities.
4. Complete section 1 for your source of income and contingent liabilities.
5. Complete section 2 with your notes payable to banks and others.

What’s included in a personal financial statement?

A personal financial statement is a snapshot of your personal financial position at a specific point in time. It lists your assets (what you own), your liabilities (what you owe) and your net worth. To get your net worth, subtract liabilities from assets.

What are the 4 types of financial statements?

There are four main financial statements. They are: (1) balance sheets; (2) income statements; (3) cash flow statements; and (4) statements of shareholders’ equity. Balance sheets show what a company owns and what it owes at a fixed point in time.

What are taxes payable on a personal financial statement?

Income tax payable is a type of account in the current liabilities section of a company’s balance sheet. It is compiled of taxes due to the government within one year. The calculation of income tax payable is according to the prevailing tax law in the company’s home country.

How do I file financial statements for divorce?

5 Tips for an Accurate Financial Statement in a Divorce

1. Do not estimate your monthly expenses.
2. Make sure you account for all income.
3. Report assets at their proper fair market value.
4. Make sure all the assets and liabilities are accounted for.
5. Update your financial statement.

How do I check the status of my SBA loan?

Call 1-800-659-2955 (the SBA Disaster Assistance customer service center) about the application process, the status of your loan, or with any other questions you may have.