Key takeaways
Fill, sign, and submit Personal Financial Statement 1 from any browser — or have AI generate a custom version in seconds. No installs, no printing, no back-and-forth.
- The Personal Financial Statement provides a snapshot of an individual's financial condition for SBA loan or assistance applications.
- Individuals owning 20 percent or more of a business applying for SBA assistance must complete and sign this form.
- Applicants must disclose detailed information regarding their personal assets, liabilities, annual income, and any contingent financial obligations.
- The form requires a signed certification acknowledging that all provided financial data is truthful and complete under penalty of law.
- This statement must be submitted to the Small Business Administration as part of the initial loan application package.
- A signed and dated copy of the applicant's most recent Federal tax return must be attached to the completed form.
- Providing false information on this document can result in federal imprisonment for up to five years or significant monetary fines.
What is Personal Financial Statement 1?
Personal Financial Statement is a document required by the U.S. Small Business Administration for individuals applying for SBA loans or other forms of federal assistance. This form establishes a clear snapshot of an applicant's financial condition as of a specific date, which the agency uses to determine eligibility for various business loan programs. It is mandatory for any individual owning 20% or more of the applicant business. To be valid, the document requires a formal signature and date from the applicant in the certification section.
The document functions as a personal financial statement template that captures a comprehensive breakdown of an individual's assets and liabilities. Applicants must provide details regarding their cash on hand, retirement accounts, and real estate, while also disclosing debts such as mortgages, unpaid taxes, and notes payable. Furthermore, the form tracks annual income from salaries and investments, as well as contingent liabilities like legal claims or guarantees. This thorough collection of data ensures the issuing authority has a complete view of the applicant's fiscal health.
U.S. Small Business Administration (SBA)
Who needs the Personal Financial Statement 1 — and who doesn't
Not everyone files Personal Financial Statement 1. The checklist below tells you whether it applies to your situation — and points you to the right alternative if it doesn't.
You need this Personal Financial Statement 1 if…
- you own 20% or more of a business that is applying for a loan from the Small Business Administration.
- you own 20% or more of an applicant business seeking other forms of financial assistance from the SBA.
- the Small Business Administration specifically requires you to provide a personal guarantee for a business loan.
- you are applying for an SBA program that requires a comprehensive statement of your personal financial condition as of a specific date.
You do not need this Personal Financial Statement 1 if…
- you own less than 20% of the applicant business and the Small Business Administration does not require you to provide a guarantee.
- you are not an individual owner or guarantor involved in a request for SBA financial assistance.
- the Small Business Administration has not requested that you provide a personal guarantee for the specific loan in question.
Why you need the Personal Financial Statement 1
Why people fill out Personal Financial Statement 1, and what tends to go wrong when they don't.
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Access SBA Funding Completing this personal financial statement template is a mandatory requirement for individuals applying for SBA loans. It provides the financial snapshot necessary for the administration to determine eligibility for federal assistance.
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Detailed Financial Inventory This Personal Financial Statement requires a comprehensive breakdown of assets and liabilities. It provides a thorough asset liability statement pdf to document your personal financial condition for lenders and loan officials.
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Certified Legal Disclosure The applicant must sign and date the certification section to verify the truthfulness of the information. Providing false statements to the SBA can result in significant fines or imprisonment under federal law.
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Secure Digital Management You can fill, eSign, and share this form using pdfFiller. The platform provides secure encrypted storage for your documents, allowing you to handle sensitive financial information safely within your browser.
Personal Financial Statement 1 vs. similar documents
Personal Financial Statement 1 gets mixed up with similar documents more than most. Here's how to tell them apart, and what filing the wrong one actually costs.
| Comparison criteria | Personal Financial Statement | SBA Form 1919 | SBA Form 2202 |
|---|---|---|---|
| Purpose | Detail personal financial condition of individual owners. | Collect information about business and its principals. | Detail all outstanding business debts and liabilities. |
| When to use | Applying for SBA loan or other assistance. | Not specified in source documentation. | Not specified in source documentation. |
| Signatures required | Signed and dated by the individual applicant. | Not specified in source documentation. | Not specified in source documentation. |
| Filing | Submitted with the loan application. | Not specified in source documentation. | Not specified in source documentation. |
| Governing reference | 13 CFR Part 120. | Not specified in source documentation. | Not specified in source documentation. |
What each section of Personal Financial Statement 1 means
Every section explained — what it's asking, the records you'll need on hand, and the mistakes that most often cause a rejection or follow-up request.
| Applicant Identification Details | Enter your full legal name and current mailing address to provide the SBA with primary contact information for your personal financial assessment. |
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| Summary of Personal Assets | List all liquid cash, savings, retirement accounts, stocks, and real estate values to provide a comprehensive view of your current personal wealth and holdings. |
| Detailed Personal Liabilities | Record all outstanding financial obligations, including mortgages, unpaid taxes, installment loans, and credit balances to calculate your total current debt and financial commitments. |
| Annual Income Breakdown | Report your total yearly earnings from salaries, investment returns, and real estate income to demonstrate your ability to manage financial obligations and loan repayments. |
| Contingent Liability Disclosure | Identify potential future financial obligations, such as legal claims or roles as a loan guarantor, which may impact your overall financial stability in the future. |
| Applicant's Official Certification | Provide your signature and the date to verify that all reported financial data is true and complete, acknowledging federal penalties for providing false information. |
How to fill out Personal Financial Statement 1 using pdfFiller
A walkthrough from the first field to the signature line. With your records in front of you, most people finish in under ten minutes.
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Open the form Click Get Form to open Personal Financial Statement in the pdfFiller editor to begin entering your personal financial information directly into the digital document from your browser.
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Enter contact information Use the text tool to fill in your basic personal identification and contact details within the Name and Address section of the online editor as required for the application.
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Record personal assets Navigate to the Assets section and type in the values for your cash, savings, retirement accounts, and real estate in the provided fillable fields to show your holdings.
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Itemize your liabilities Click into the Liabilities section to enter details regarding your accounts payable, installment accounts, mortgages, and any unpaid taxes you currently owe in this personal financial statement template.
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Declare annual income Use the editor to specify your annual salary, net investment income, and real estate income in the Source of Income fields to provide a clear picture of your earnings.
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Detail contingent liabilities Use the text tool to record potential obligations, such as legal claims or roles as a guarantor, within the confidential financial statement form's contingent liabilities section.
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Certify and sign Select the Sign tool to add a legally binding e-signature to the Applicant's Certification, then date the document to confirm all entered information is truthful and complete.
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Save and share Click Done to save your progress in secure encrypted storage, then download the finished PDF or send it directly via email or link to the Small Business Administration.
Required disclosures & attachments
The fields Personal Financial Statement 1 won't be accepted without — and the disclosures filers most often miss.
Deadlines, key dates & penalties for Personal Financial Statement 1
When Personal Financial Statement 1 is due, what late filing actually costs, and how to request more time if you need it.
| Filing Deadline | The Personal Financial Statement must be submitted concurrently with the associated loan application or request for assistance. |
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| Penalties for False Statements | Any individual who provides false information or representations to the Small Business Administration to influence its actions or obtain financial benefits may face a fine of up to $250,000, imprisonment for up to five years, or both, as established under 15 U.S.C. 645(a) and 18 U.S.C. 1001. |
Recent changes to Personal Financial Statement 1
The Personal Financial Statement (SBA Form 413) currently in use is the Rev. 01/2023 version. This update ensures that the form meets the latest requirements of the U.S. Small Business Administration for evaluating the financial condition of loan applicants and guarantors. Using this most recent revision is necessary to comply with the legal standards set forth in 13 CFR Part 120 and to provide the accurate data required for SBA assistance programs.
The 01/2023 revision maintains the detailed sections for reporting personal assets, liabilities, and annual income. It also includes the updated certification language regarding the penalties for providing false information to the federal government. Applicants should ensure they are using this specific version to avoid potential delays in the processing of their loan applications or other business assistance requests.
Pointer: Check the revision date at the bottom of the document to ensure it is the 01/2023 version before submitting your application.
Related content
The forms, guides, and worksheets most filers reach for alongside Personal Financial Statement 1.
Key terms used in Personal Financial Statement 1
A one-sentence glossary of the Personal Financial Statement 1 terms and concepts you'll see throughout this guide.
- Contingent Liabilities
- Potential future debts where the applicant is an endorser or guarantor, or facing legal claims or special debt.
- Assets
- Personal holdings including cash, savings, retirement accounts, stocks, bonds, and real estate owned by the applicant.
- Liabilities
- Debts such as accounts payable, mortgages, unpaid taxes, and installment loans for vehicles or other personal items.
- Applicant's Certification
- The section where the applicant signs to verify the information's truthfulness and acknowledges penalties for providing false statements.
- Source of Income
- Details of annual earnings from salary, net investment income, real estate, and other sources of personal revenue.
Frequently asked questions about Personal Financial Statement 1
Quick answers to the questions we hear most often about completing the Personal Financial Statement 1.
The Personal Financial Statement is used by the U.S. Small Business Administration to evaluate the financial condition of individuals applying for or guaranteeing an SBA loan. It provides a detailed snapshot of an applicant's assets and liabilities as of a specific date to help determine eligibility for financial assistance or other agency programs.
Individuals who own 20% or more of an applicant business or those required by the SBA to provide a personal guarantee on a loan must complete this form. It is a mandatory requirement for these parties to ensure the SBA has a clear picture of the financial backing behind a business loan or assistance request.
The form includes sections for personal identification, assets, liabilities, annual sources of income, and contingent liabilities like legal claims or tax provisions. Applicants must detail their cash, retirement accounts, real estate, and outstanding debts such as mortgages or installment loans to provide a comprehensive view of their net worth and financial obligations.
Yes, making false statements to the SBA can result in imprisonment for up to five years, a fine of up to $250,000, or both. These penalties are enforced under federal law to ensure the integrity of the financial data provided during the loan application process, highlighting the absolute necessity of accuracy in the certification section.
Applicants must include a signed and dated copy of their most recent Federal tax return, including all relevant schedules, along with the completed form. This attachment serves to verify the income and financial data reported on the statement, providing the SBA with the necessary documentation to validate the applicant's reported financial standing.
You can use pdfFiller to fill out, edit, and sign the Personal Financial Statement directly in your web browser. The platform allows you to securely manage the document, add a legally binding e-signature as required by the SBA, and share the finished PDF with lenders or the agency via email, fax, or a secure link.
