# What is SBA Form 413 and who has to complete it?

**Short answer:** SBA Form 413 is the Personal Financial Statement. On 7(a) and 504 loans, each proprietor, general partner, managing member, 20% owner and guarantor completes it. Lenders may use an equivalent form. Sources: SBA Form 413 (05-24); SOP 50 10 8.1, Appendix 20, Para. A.1.c.

Canonical page: https://www.sbaexpress.loans/answers/what-is-sba-form-413/
Last checked: 2026-11-09

SBA Form 413 is the Personal Financial Statement, used to assess repayment ability and creditworthiness. SBA's page lists it for 7(a), 504, disaster and surety bond applicants, among others.

## Who completes it on a 7(a) or 504 loan

The form lists:

- Each proprietor.
- Each general partner.
- Each managing member of an LLC.
- Each owner of 20% or more of the equity, including the assets of the owner's spouse and any minor children.
- Any person providing a guaranty.

SOP 50 10 8.1, Appendix 20, Para. A.1.c excludes Supplemental Guarantors. Lenders may use their own equivalent form.

## Spouses

Non-owner spouses are not required to sign the personal financial statement (Sec. A, Ch. 5, Para. A.2.b, p. 93). The form's certification does call for a signature from the spouse of a 20% owner when spousal assets are included. Ask your lender which signatures it needs.

## What it asks for

- Assets, including cash, retirement accounts, stocks, real estate and vehicles.
- Liabilities, including notes, mortgages and unpaid taxes.
- Income and contingent liabilities, such as legal claims.
- Schedules of notes, securities, real estate and life insurance.

## Where it goes

Return it to the lender on a 7(a) loan, or to the Certified Development Company (CDC) on a 504 loan. The posted version (05-24) shows an Office of Management and Budget (OMB) expiration date of August 31, 2027. A knowing false statement carries the federal penalties printed on the form.

## Sources

- [SBA Form 413 (05-24), Personal Financial Statement](https://legacy.sba.gov/document/sba-form-413-personal-financial-statement)
- [SOP 50 10 8.1, Appendix 20, Para. A.1.c (p. 416)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [SOP 50 10 8.1, Sec. A, Ch. 5, Para. A.2 (p. 93)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)