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PERSONAL FINANCIAL STATEMENT As of. S. SMALL BUSINESS ADMINISTRATION, Complete this form for: (1) each proprietor, or (2) each limited partner who owns 20% or more interest and each general partner,

How to fill out sba 413

How to fill out SBA 413:

1. Start by downloading the SBA 413 form from the Small Business Administration's website.
2. Read the instructions carefully to understand the information and documents required to complete the form.
3. Begin the form by entering your personal information, such as your name, address, and contact details.
4. Provide details about your business, including its legal name, business structure, and the date it was established.
5. Indicate whether your business is a start-up or an existing business.
6. Fill in the requested financial information, such as your annual revenue, cost of goods sold, operating expenses, and net profit.
7. If applicable, provide the requested information about your affiliates, subsidiaries, or other related business entities.
8. Answer the questions regarding any outstanding debts or obligations your business may have.
9. In the section titled "Certification," sign and date the form to verify the accuracy of the information provided.
10. Keep a copy of the completed SBA 413 form for your records.

Who needs SBA 413:

1. Small business owners who are applying for an SBA loan may be required to fill out SBA 413.
2. Entrepreneurs seeking financial assistance from the Small Business Administration to start or expand their businesses often need to complete this form.
3. SBA 413 is typically required for loan programs such as the 7(a) Loan Program, which provides funding for small businesses to acquire assets or meet working capital needs.
4. Individuals applying for an SBA loan through an intermediary lender, such as a bank or financial institution, may also need to submit SBA 413 as part of the loan application process.
5. It is essential to consult with the loan provider or SBA representative to determine if SBA 413 is required for your specific loan application.

Note: It's always recommended to consult with an SBA representative or a professional advisor for accurate and up-to-date information regarding the specific requirements for filling out SBA 413 and if it is necessary for your loan application.

People Also Ask about

Do you have to pay SBA disaster loan back?

The SBA will reach out for repayment in the form of a 60-day demand letter. Typically, these letters state that you have 60 days to respond to the SBA before it transfers your account to the U.S. Treasury Department. At this time, you can repay the loan or submit an offer in compromise.

How to fill out SBA 413?

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What is net worth on SBA form 413?

Any real estate you own plays into your overall net worth. Form 413 provides space to describe up to three properties, including the type of real estate, original cost, present market value, mortgage holder information and other details, such as if you are up to date on your payments or you've paid a mortgage in full.

What is a SBA form 413?

SBA uses the information required by this Form 413 as one of a number of data sources in analyzing the repayment ability and creditworthiness of an applicant for an SBA loan or, with respect to a surety bond, to assist in recovery in the event that the contractor defaults on the contract.

What is the purpose of SBA form 2202?

SBA Form 2202, Schedule of Liabilities is a format suggested by the Small Business Administration (SBA) for describing all fixed debts that should supply a balance sheet. The form is used by small business owners when applying for an SBA Disaster Loan.

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What is sba 413?

SBA Form 413 is a personal financial statement form used by the Small Business Administration (SBA) to evaluate the financial status of individuals applying for SBA loans or loan guarantees.

Who is required to file sba 413?

Individuals applying for SBA loans or loan guarantees are required to file SBA Form 413.

How to fill out sba 413?

SBA Form 413 can be filled out by providing detailed information about assets, liabilities, sources of income, and other financial details as requested on the form.

What is the purpose of sba 413?

The purpose of SBA Form 413 is to assess the financial health and repayment ability of individuals applying for SBA loans or loan guarantees.

What information must be reported on sba 413?

SBA Form 413 requires individuals to report information about their assets, liabilities, sources of income, and other financial details.