A personal financial statement is a document that details your personal financial situation, including your assets, liabilities, income, and expenses. When applying for a business loan from the Small Business Administration (SBA), you’ll be required to submit a personal financial statement.
The SBA personal financial statement template is a standardized form that you should use to present your financial information. The SBA uses this form to assess your creditworthiness and ability to repay a loan, so it’s important to fill it out accurately and completely.
What to Include in Your SBA Personal Financial Statement
The SBA personal financial statement template includes sections for the following information:
•Personal information
•Assets
•Liabilities
•Income
•Expenses
For each section, you’ll need to provide detailed information about your current financial situation. This includes listing all of your assets, liabilities, income, and expenses. Be sure to include all relevant information, even if it’s negative. The SBA will use this information to determine your eligibility for a loan, so it’s important to be honest and accurate.
How to Fill Out the SBA Personal Financial Statement Template
The SBA personal financial statement template is a complex document, so it’s important to fill it out carefully. Here are a few tips to help you get started:
•Read the instructions carefully before you begin.
•Use the SBA’s glossary of terms to help you understand the language in the template.
•Gather all of the necessary documentation before you start filling out the form.
•Be consistent in your formatting and use clear, concise language.
•Review your financial statement carefully before you submit it.
Where to Get Help with the SBA Personal Financial Statement Template
If you need help filling out the SBA personal financial statement template, there are a number of resources available to you. You can contact the SBA directly for assistance, or you can seek help from a financial advisor or accountant. There are also a number of online resources that can provide you with guidance.
Conclusion
The SBA personal financial statement template is an important document that can help you secure a business loan. By following these tips, you can fill out the template accurately and increase your chances of getting approved for a loan.
The SBA personal financial statement template is a great tool for organizing your financial information and making sure that it is presented in a way that is easy for lenders to understand. Using this template can help you get approved for a loan and get your business off the ground.
