Get the free SBA Form 1253 - SBA.gov - sba

OMB Approval No: 32450074 Expiration Date: 04/30/2017 Certified Development Company (CDC) Annual Report Guide INTRODUCTION CDC's are required to submit an annual report on their operations to SBA.

How to fill out sba form 1253

How to fill out SBA Form 1253:

1. Start by downloading the SBA Form 1253 from the official Small Business Administration (SBA) website. This form is known as the "Personal Financial Statement" and is used to evaluate an individual's financial position for loan or credit purposes.
2. Begin the form by entering your personal information, including your name, address, Social Security number, and contact details.
3. In Section 1 of the form, list your assets. This includes personal cash on hand, checking and savings accounts, investments, real estate holdings, vehicles, and any other valuable possessions. Be sure to provide accurate and detailed information about each asset.
4. In Section 2, disclose liabilities. This includes all debts and financial obligations, such as mortgages, loans, credit card balances, and any other outstanding debts. Provide the names of the creditors, outstanding balances, and monthly payment amounts.
5. Section 3 requires you to report your sources of income. Include your annual salary, dividends, rental income, business profits, and any other sources of income. Clearly state the amounts and the frequency (monthly, annually, etc.) for each source.
6. Provide information about any contingent liabilities in Section 4. Contingent liabilities are potential obligations that may arise in the future, such as guarantees or cosigning responsibilities for someone else's debt. Include the nature of the contingent liabilities and their potential impact on your financial situation.
7. Section 5 is for your financial summary. This section calculates your net worth by subtracting your total liabilities from your total assets. Double-check your calculations to ensure accuracy.
8. Finally, sign and date the form in Section 6, certifying that the information you have provided is accurate and complete.

Who needs SBA Form 1253:

1. Small business owners applying for loans: When seeking financial assistance from banks or lenders, small business owners often need to submit their personal financial statements. SBA Form 1253 is commonly required in such cases.
2. Individuals applying for credit: If you are applying for a credit line, personal loan, or other forms of credit, the financial institution may request your personal financial statement to evaluate your creditworthiness and ability to repay.
3. Investors and partners: Individuals seeking investments or business partners may be asked to provide their personal financial statements to potential stakeholders to demonstrate their financial stability and credibility.

Note: It is important to consult with a financial advisor or small business development center to ensure accurate completion of SBA Form 1253 and to understand its implications.

For pdfFiller’s FAQs

What is sba form 1253?

SBA Form 1253 is a form required by the Small Business Administration for certain types of loan applications.

Who is required to file sba form 1253?

Borrowers applying for certain types of loans from the Small Business Administration are required to file SBA Form 1253.

How to fill out sba form 1253?

SBA Form 1253 can be filled out online through the Small Business Administration's website or manually by following the instructions provided on the form.

What is the purpose of sba form 1253?

The purpose of SBA Form 1253 is to gather information from borrowers applying for loans from the Small Business Administration to assess their creditworthiness and eligibility for the loan.

What information must be reported on sba form 1253?

SBA Form 1253 requires borrowers to report information such as their personal and financial information, business details, and loan request details.

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