SBA 770 2014 free printable template

TOTAL MONTHLY INCOME OF DEPENDENTS Except Spouse 22. AMOUNT OF GROSS INCOME REPORTED TOTAL FIXED MONTHLY EXPENSES NOTE USE ADDITIONAL SHEETS WHERE SPACE ON THIS FORM IS INSUFFICENT SBA Form 770 12-14 REF SOP 50-57 Previous Editions Obsolete PAGE 1 24. OMB NO 3245-0012 Expiration Date 01/31/2018 U*S* Small Business Administration FINANCIAL STATEMENT OF DEBTOR INSERT THE WORD NONE WHERE APPLICABLE TO ANY OF THE FOLLOWING ITEMS 1. NAME SBA LOAN NUMBER 2. DATE OF BIRTH Month Day and Year 3....

How to fill out SBA 770

How to fill out SBA 770

1. Obtain the SBA 770 form from the Small Business Administration website or your local SBA office.
2. Carefully read the instructions provided with the form to understand the requirements.
3. Fill in your business information, including the legal name, address, and contact details.
4. Provide details about your business's ownership structure.
5. Enter the financial data as required, including revenue, expenses, and assets.
6. Indicate the purpose of the loan you are applying for or the reason for submitting the form.
7. Review all entries for accuracy, ensuring all required fields are completed.
8. Sign and date the form, certifying that all information provided is true and accurate.
9. Submit the completed form through the specified submission method, either online or via mail.

Who needs SBA 770?

1. Small business owners seeking financial assistance there are legal entities and nonprofit organizations, particularly those applying for SBA loans or grants.
2. Entrepreneurs looking to establish, expand, or enhance their businesses may also need to fill out SBA 770 to demonstrate their financial eligibility.
3. Organizations that require federal support for economic development projects might also need this form to assess their funding applications.

• Who needs a Financial Statement of Debtor?
• What is the Financial Statement of Debtor Form for? 
• How do I fill out SBA Form 770?

Who needs a Financial Statement of Debtor?

The Financial Statement of Debtor form, or SBA Form 770, is a United States Small Business Administration form. It must be filled out and filed by borrowers of an SBA-guaranteed loan. Such a loan can be taken at most US banks or commercial lending institutions.

What is the Financial Statement of Debtor Form for? 

The primary purpose of this form is to enable the US Small Business Administration to evaluate the debtor’s financial capacity to repay the debt owed to the Agency and determine to what extent the debt may be compromised and the ways in which the Agency can maximize the likelihood of the Agency recovering the full amount of the debt and protect its interests.

How do I fill out SBA Form 770?

The completed Financial Statement of Debtor must provide the following information:

1. The debtor and their personal details (full name, date of birth, address, etc.)

2. Employment details

3. Monthly income

4. Dependents

5. Assets

6. Details about the loan, etc.

 

When completed, the form should be signed and dated by the obliged and directed to the lender. The lender should then file the original statement form with the local SBA servicing center.

 

Instructions and Help about SBA 770

The question I'm not going to answer the question that I'm going to answer today is how to complete the personal financial statement correctly this is a common question because the personal financial statement is often completed incorrectly causing delays and even loan declines, so I'm going to answer this in two videos first video is going to show you how to complete the personal financial statement correctly which will save you time and headache the second video is going to show you how the bank will interpret your personal financial statement which will help you identify the strengths and weaknesses of your personal financial statement, and you'll be able to make some adjustments hopefully prior to submission of your personal financial statement personal financial statements also called the PFS just the acronym for it okay so couple quick things you only have one time to give your first impression so let's do it right, so the personal financial statement is a personal document to reflect you and your spouse's financial situation not your businesses not any third parties your uncle's financial information any money they're going to give you etcetera it is to reflect you and your spouse the form that we're going to go over today is called the SBA form 4:13 this is issued by the SBA, and it is required if you are completing an SBA loan and if you're not doing an SBA loan it's a good form to know most banks use it anyway and if you have one of their personal financial statements you can typically just sign their form and then use this one instead okay so let's get started up in the top right here you are going to see expiration date the first thing you want to make sure is that the form is current this one expires September 2014 below that you're going to see an as of date this is where you are going to put the date as all this information is based on I suggest let's pretend today is July 15th, so I would have you print off all of your documents your bank statements your credit card statements your mortgage statements your car loans every financial doubt your stock certain stock information all of those documents as of 6:30, so you want to do go back to the previous month and print off all your documents ending with the last day of the month, so I would put 6:30 up here if it was 7:15 today okay down towards the first third of the second third of the page you're going to see name this is for you and your spouse's name the rule is this if you file a tax return joint then both of those names are to be listed on the personal financial statement just because your spouse is listed does not mean that he or she is a guarantor on the loan, but it does represent that you two own assets together okay residents address is below that I recommend putting wherever you live currently that's usually your personal or primary residence however it could be an apartment, or you could be wherever you're living currently below that is business name and applicant name...

People Also Ask about

What is a consumer debtor financial statement?

Who needs a Consumer debtor financial statement? It the individual arranges a loan with a bank and at some point, cannot make a credit payment, the individual should complete a Consumer debtor financial statement. This statement is used if the debtor can't pay off the sum of the credit to the creditor.

What is a SBA Form 770?

Form 770 is the financial statement of debtor that is used by SBA servicing centers for actions that require current financial information for a specific borrower or debtor.

What is a debtor on a balance sheet?

If money is owed, the party that owes the money is known as the debtor on the balance sheet of the party that is owed the money.

What is the SBA offer in compromise form 770?

What is the purpose of SBA Form 770? The primary purpose of SBA Form 770 is to evaluate the debtor's financial capacity to repay the debt owed to the Agency and determine to what extent the Agency may compromise the debt, maximize recovery, and protect the interests of the Agency.

What is a statement of debtor?

Most businesses prepare a debtor statement once a month so that their customers and clients are fully up to date on any and all outstanding payments. Although the format can vary, a debtor statement will: Give you a general overview of any outstanding payments owed by each customer.

What is a financial statement of debtor?

The purpose of this Statement of Finances is to determine the debtor's financial situation so that satisfactory payment arrangements to clear the arrears can be made. The statement provides a sworn summary of the debtor's income, expenses, assets and employment.

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What is SBA 770?

SBA 770 is a form used by small business owners to apply for Economic Injury Disaster Loans (EIDL) from the Small Business Administration (SBA).

Who is required to file SBA 770?

Any small business owner or cooperative that has suffered economic injury as a result of a disaster may be required to file SBA 770 to seek financial assistance.

How to fill out SBA 770?

To fill out SBA 770, applicants need to provide detailed information about their business, the impact of the disaster on operations, and any financial documentation supporting their claim.

What is the purpose of SBA 770?

The purpose of SBA 770 is to facilitate the application process for businesses seeking federal assistance following a disaster, helping to assess their economic injury and eligibility for loans.

What information must be reported on SBA 770?

Information required on SBA 770 includes business identification details, description of the disaster impact, financial statements, and any other documentation proving economic injury.