Personal financial statement
List what you own and what you owe, and the totals and net worth work themselves out. Print a clean copy to sign and give to a lender. Nothing here is stored or sent anywhere.
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What a personal financial statement is
A personal financial statement is a one-page snapshot of your finances on a given date: what you own, what you owe, and the difference between them, your net worth. Lenders use it to see how an owner could stand behind a loan.
When you need one
- A bank or lender asks for one on a business loan you are guaranteeing, usually on larger deals.
- A landlord, surety or investor wants to see your financial position.
- You want your own yearly check on where you stand.
What to include
- Everything you own at today's value, not what you paid: accounts, vehicles, real estate, the value of your business.
- Everything you owe, including credit cards and any unpaid taxes.
- A line for each property and each note in the schedules, so a lender can check them against your credit report.
- Debts you have guaranteed for someone else. These are the contingent liabilities.
What the form asks for
- You: Statement date; Who this covers; Your name; Spouse's name; Home address; City; State; ZIP; Phone; Employer or business.
- What you own: Cash on hand and in banks; Savings and CDs; IRA and retirement accounts; Stocks and bonds; Money others owe you; Life insurance cash value; Vehicles; Other personal property; Business interests; Other assets.
- What you owe: Accounts and bills payable; Credit cards; Vehicle loans; Unpaid taxes; Other debts.
- Income for the year: Salary; Business income; Interest and dividends; Net rental income; Other income.
- Contingent liabilities: As a guarantor or co-signer; Legal claims and judgments; Possible taxes owed; Other.
- Real estate schedule: Address; Type; Purchase price; Value today; Mortgage holder; Mortgage balance; Monthly payment.
- Notes payable schedule: Who you owe; Original amount; Balance today; Monthly payment; What secures it.
This is a general template, not legal advice. Check with an attorney for your situation.
Common questions
Is this the same as SBA Form 413?
No. It covers the same kind of information, but this is a general form. For an SBA loan, your lender will have you use SBA Form 413 itself. Many other lenders accept a statement like this, or have their own.
Why is there no Social Security number on this form?
On purpose. A statement passed around by email should not carry one. If a lender needs it, they can get it on their own application.
How do I value my business or my home?
Use a fair, honest estimate of what it would sell for today. Do not use what you paid, and do not use your hopes. Lenders usually adjust these figures on their side, and an inflated number only hurts your credibility.
Do I include my spouse?
Choose "Me and my spouse" if you own things jointly and the lender wants a joint statement. Rules differ between states and lenders, so if you are not sure, ask the lender.
How recent does it need to be?
Many lenders want one dated within the last 60 to 90 days, but each sets its own rule. Fill in a fresh one for each new application.
What happens to what I type here?
It stays in your browser and goes away when you close the page. It is not sent to us. You can keep a draft on your own device if you turn that on. It starts off.
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