SBA 770 1987 free printable template

WHERE WAS TAX RETURN FILED 22. AMOUNT OF GROSS INCOME REPORTED 24. ASSETS Fair Market Value Cash Checking accounts Show location Other Specify TOTAL FIXED MONTHLY EXPENSES SHOW AMOUNTS TO NEAREST LIABILITIES Bills owed grocery doctor lawyer etc. Installment debt car furniture clothing etc. Taxes owed Savings Accounts Show location Income Other Itemize Cash surrender value of life insurance Motor Vehicles Make Year License No. Loans payable to banks finance companies etc. Judgments you owe...

How to fill out SBA 770

How to fill out SBA 770

1. Obtain the SBA Form 770 from the official SBA website or your local SBA office.
2. Fill in your business information at the top of the form, including the business name, address, and contact details.
3. Complete the section regarding your ownership structure, indicating whether you are a corporation, partnership, or sole proprietorship.
4. Provide details regarding your principal business activity and the number of employees.
5. Answer the questions regarding your business's financial information, including gross revenue, expenses, and net profits.
6. Attach any required supporting documents, such as financial statements or tax returns.
7. Review the form for accuracy and completeness before submitting it.
8. Sign and date the form to certify that the information is true and correct.

Who needs SBA 770?

1. Businesses seeking loan guarantees or financial assistance from the Small Business Administration (SBA).
2. Small business owners applying for disaster assistance loans.
3. Startups and entrepreneurs looking for SBA funding.
4. Businesses that have undergone significant changes in ownership or operational structure.

• 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 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.

How to fill out SBA Form 413 Personal Financial Statement?

How To Fill Out the Personal Financial Statement Step 1: Choose The Appropriate Program. Step 2: Fill In Your Personal Information. Step 3: Write Down Your Assets. Step 4: Write Down Your Liabilities. Step 5: Fill Out the Notes Payable to Banks and Others Section. Step 6: Fill Out the Stocks and Bonds Section.

What is an SBA offer in compromise?

What is an Offer in Compromise? An offer in compromise is an offer by the borrower to pay a portion of what is owed on the SBA loan, in exchange for the SBA to consider the debt settled or satisfied.

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 market value quotation exchange?

Market value quotation/exchange: the value of the security should be mentioned on the “as of date”. Date of Quotation/Exchange: this refers to the day where the value of the security was taken. Total value: The number of shares that you own should be multiplied with the market value.

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.

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What is SBA 770?

SBA Form 770 is a financial statement form used by the Small Business Administration (SBA) to collect information from small businesses applying for various forms of assistance.

Who is required to file SBA 770?

Small business owners applying for SBA loans or other forms of financial assistance are required to file SBA 770.

How to fill out SBA 770?

To fill out SBA 770, provide accurate financial details about your business including income, expenses, and asset information as instructed on the form.

What is the purpose of SBA 770?

The purpose of SBA 770 is to assess the financial health of small businesses applying for SBA assistance and to determine their eligibility for funding.

What information must be reported on SBA 770?

Information that must be reported on SBA 770 includes the business's income, expenses, assets, liabilities, and other relevant financial details.