Yes! You can use AI to fill out SBA Form 413, Personal Financial Statement
SBA Form 413 (Personal Financial Statement) is an official SBA form that collects an individual’s personal assets, liabilities, income sources, and contingent liabilities. SBA and participating lenders/sureties use it to assess creditworthiness and repayment ability for SBA-backed financing (such as 7(a) and 504 loans), disaster loans, and surety bond guarantees. It is also used to determine whether an individual meets the economic disadvantage thresholds for the WOSB Federal Contracting Program and the 8(a) Business Development Program. Because the form is signed under penalty of criminal prosecution, accuracy and complete supporting details/attachments are critical.
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Form specifications
| Form name: | SBA Form 413, Personal Financial Statement |
| Number of pages: | 6 |
| Filled form examples: | Form SBA Form 413 Examples |
| Language: | English |
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How to Fill Out SBA Form 413 Online for Free in 2026
Are you looking to fill out a SBA FORM 413 form online quickly and accurately? Instafill.ai offers the #1 AI-powered PDF filling software of 2026, allowing you to complete your SBA FORM 413 form in just 37 seconds or less.
Follow these steps to fill out your SBA FORM 413 form online using Instafill.ai:
- 1 Select the purpose(s) for completing the form (e.g., 7(a)/504/Surety Bonds, Disaster Business Loan, WOSB, 8(a) BD) and confirm who must complete it (owners/guarantors and, when required, spouse).
- 2 Enter personal and applicant/borrower information (name, addresses, phone numbers, business name/type) and set the “information is current as of” date within the required timeframe.
- 3 Complete the Assets and Liabilities sections (omit cents), ensuring totals balance and calculating net worth; include monthly payments where requested.
- 4 Fill out Section 1 (Source of Income) and Contingent Liabilities, adding descriptions for “Other Income” as needed.
- 5 Provide required schedules and details: Section 2 (Notes Payable), Section 3 (Stocks and Bonds), Section 4 (Real Estate Owned), and Section 5 (Other Personal Property/Other Assets), using signed attachments when necessary.
- 6 Complete remaining disclosures: Section 6 (Unpaid Taxes), Section 7 (Other Liabilities), and Section 8 (Life Insurance Held), including lienholders, terms, and beneficiaries where applicable.
- 7 Review the authorizations and certifications, then sign and date (and obtain spousal signature if required); submit to the correct destination (lender/CDC/surety, Disaster Processing Center, or via certify.sba.gov/beta.certify.sba.gov for WOSB/8(a) as applicable).
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Frequently Asked Questions About Form SBA Form 413
SBA Form 413 collects personal (not business) financial information about an applicant and certain related individuals. SBA uses it to evaluate creditworthiness/repayment ability for loans or surety bonds, and to assess economic disadvantage for the WOSB and 8(a) Business Development programs.
It must be completed by each proprietor, general partner, managing member of an LLC, each owner of 20% or more of the applicant, and any person providing a guaranty. For 20%+ owners, the form should include the assets of the owner’s spouse and any minor children.
It must be completed by each applicant, each general partner, each managing member of an LLC, each owner of 20% or more of the applicant business, and any person providing an unlimited guaranty. The completed form is returned to SBA’s Disaster Processing and Disbursement Center (mail, fax, or email as listed on the form).
Yes—WOSB and 8(a) applicants generally require a separate SBA Form 413 from the spouse, unless the individual and spouse are legally separated. If legally separated for 8(a), you must provide a copy of the separation document.
For 7(a) loans, submit to the lender processing the SBA guaranty; for 504 loans, submit to the Certified Development Company (CDC); for surety bonds, submit to the surety company or agent. Disaster loan applicants submit to the Disaster Processing and Disbursement Center (mail/fax/email shown on the form), while WOSB and 8(a) submissions are made through the SBA’s online certification portals (beta.certify.sba.gov or certify.sba.gov, as applicable).
The “This information is current as of” date must be within 90 days of submission for Disaster loans. For 7(a)/504/Surety Bond Guarantee/8(a)/WOSB, it must be within 120 days of submission.
No—this form is for personal information, not business information. You should list your personal assets and liabilities, including personally owned real estate, personal bank accounts, and personal debts.
The form instructs you to divide jointly owned assets and liabilities as appropriate with your spouse or others. In practice, you should report only your share (or clearly explain the split) and use attachments if needed.
You must list the noteholder name/address, original balance, current balance, payment amount, payment frequency, and how the debt is secured or endorsed (type of collateral). If you need more space, attach a separate signed sheet identified as part of the statement.
List the number of shares, name of securities, cost, market value, and the date of quotation/exchange. If you have multiple holdings, you can attach additional signed pages labeled as part of the statement.
List each property separately and include the type of real estate, address, date purchased, original cost, present market value, mortgage holder name/address, mortgage account number, mortgage balance, payment amount, and mortgage status. Use attachments if you have more than three properties.
Yes—retirement accounts (e.g., IRA or other retirement accounts) are listed as assets and should be described in Section 5. Life insurance should be reported at cash surrender value (not face value) in the assets section, with policy details provided in Section 8.
No—alimony or child support should not be disclosed in “Other Income” unless you want those payments counted toward total income. If you do include them, describe them in the “Description of Other Income” area.
Submission of the information is required as part of the application for SBA assistance, and missing information can negatively impact the agency’s decision. The form also states you should complete it in its entirety and attach signed sheets if more space is needed.
The form warns that knowingly making false statements can lead to denial of the application and significant criminal, civil, and administrative penalties (including fines, imprisonment, and possible suspension/debarment). By signing, you certify under penalty of criminal prosecution that the information is true and complete.
Compliance SBA Form 413
Validation Checks by Instafill.ai
1
Program Selection Must Have at Least One Option Checked
Validate that the applicant selected at least one applicable program/purpose (e.g., 7(a)/504/Surety Bonds, Disaster Business Loan, WOSB, 8(a) BD). This is required to determine which submission rules apply (e.g., recency window, spouse form requirements, where to submit). If no option is selected, the submission should be rejected and the user prompted to choose the applicable program(s).
2
Statement “Current As Of” Date Format and Recency Window
Validate that the “This information is current as of” date is present, uses mm/dd/yyyy format, and is a real calendar date. Then validate recency: within 90 days for Disaster submissions and within 120 days for 7(a)/504/SBG/8(a) BD/WOSB, based on the selected program. If the date is missing, malformed, or outside the allowed window, the form should fail validation because the financial snapshot is considered stale.
3
Required Identity and Contact Fields Completed
Ensure the following are not blank: Name, Home Address, City/State/ZIP, Business Name of Applicant/Borrower, and Business Type selection. Also require at least one reachable phone number (business phone and/or home phone) depending on system policy, but enforce format rules for any provided phone. If required fields are missing, the submission should be blocked because the statement cannot be attributed to a specific individual and applicant business.
4
Phone Number Format Validation (Business and Home)
Validate that any phone number entered matches the required pattern (xxx-xxx-xxxx) and contains exactly 10 digits (allowing hyphens). This prevents downstream contact failures and reduces manual correction. If a phone number fails format validation, the system should flag the field and require correction before submission.
5
ZIP Code and State Consistency Check
Validate that the ZIP code is 5 digits (or ZIP+4 if allowed) and that the state is a valid US state/territory abbreviation. Optionally cross-check that the ZIP code is plausible for the selected state to catch common data entry errors. If invalid, the address should be rejected or routed to a correction workflow because it impacts identity verification and correspondence.
6
Business Type Must Be Exactly One Valid Choice
Validate that Business Type is selected from the allowed set (Corporation, S-Corp, LLC, Partnership, Sole Proprietor) and that only one is chosen if the UI allows multiple selections. Business type drives eligibility and interpretation of ownership/guaranty requirements. If missing or multiple/invalid values are provided, the submission should fail validation.
7
SSN Format and Basic Plausibility Validation
Validate that each Social Security Number provided is in the format xxx-xx-xxxx (or normalized to 9 digits) and is not an obviously invalid value (e.g., all zeros, 000-xx-xxxx, xxx-00-xxxx, xxx-xx-0000). SSNs are used for identity matching and creditworthiness checks, so format and plausibility are critical. If invalid, the form should be rejected and the user required to correct the SSN field(s).
8
Signature and Signature Date Required for Each Required Signer
Validate that the primary submitter has signed and dated the form, and that the signature date is in mm/dd/yyyy format and not in the future. If a spouse signature is required (based on ownership/spousal asset inclusion rules in the workflow), validate spouse signature and date are also present. If any required signature/date is missing or invalid, the submission should be blocked because the certification is legally required.
9
WOSB Marital Status Required When WOSB Program Selected
If the WOSB Federal Contracting Program option is selected, validate that the “WOSB applicant only, Married Yes/No” field is completed. This field determines whether a spouse statement/signature may be required and affects economic disadvantage evaluation. If WOSB is selected and marital status is blank, the submission should fail validation and prompt completion.
10
Numeric Fields Must Be Whole Dollars and Non-Negative Where Applicable
Validate that all monetary fields in Assets, Liabilities, Income, and Contingent Liabilities are numeric, omit cents (no decimals), and are not negative unless the form explicitly allows a negative (generally it does not). This prevents calculation errors and ensures consistent financial reporting. If a value contains cents, non-numeric characters, or negative amounts, the system should reject the entry and request correction.
11
Assets Total Must Equal Sum of Asset Line Items
Validate that the “Total” in the Assets column equals the sum of all listed asset categories (cash, savings, retirement, receivables, life insurance cash value, stocks/bonds, real estate, automobiles, other personal property, other assets). This ensures arithmetic integrity and reduces underwriting rework. If the total does not match, the submission should fail validation or require the system to auto-recalculate and require user confirmation.
12
Liabilities Total Must Equal Sum of Liability Line Items
Validate that “Total Liabilities” equals the sum of accounts payable, notes payable, installment accounts (auto/other), loans against life insurance, mortgages, unpaid taxes, and other liabilities. Accurate totals are necessary for net worth and repayment analysis. If the total is inconsistent, the form should be flagged for correction before acceptance.
13
Net Worth and Balance Check (Assets = Liabilities + Net Worth)
Validate that Net Worth equals Total Assets minus Total Liabilities, and that the form’s stated rule “Total must equal total in assets column” is satisfied (i.e., Total Assets equals Total Liabilities plus Net Worth). This is a core accounting consistency check used in credit decisions. If the balance does not reconcile, the submission should be rejected or routed to an exception queue requiring correction.
14
Installment Account Monthly Payment Required When Installment Balance Provided
If an Installment Account (Auto) or Installment Account (Other) liability amount is entered, validate that the corresponding “Mo. Payments” field is also provided and is a valid whole-dollar amount. Payment obligations are required to assess cash flow and repayment capacity. If a balance is present without a payment amount, the system should flag the omission and require completion.
15
Section Detail Required When Summary Line Items Are Non-Zero
Enforce that when certain summary fields are non-zero, the corresponding detail section contains at least one entry: Notes Payable → Section 2; Stocks and Bonds → Section 3; Real Estate → Section 4; Automobiles/Receivables/Retirement/Other Assets/Other Personal Property → Section 5; Unpaid Taxes → Section 6; Other Liabilities → Section 7; Life Insurance Cash Surrender Value → Section 8. This ensures the lender/SBA can verify collateral, terms, and sources. If details are missing for a non-zero category, the submission should fail validation and request the required breakdown.
16
Real Estate Detail Completeness and Mortgage Consistency
For each real estate parcel listed in Section 4, validate required fields are present: type, address, date purchased (valid date), original cost, present market value, mortgage holder name/address, mortgage account number (if applicable), mortgage balance, payment amount and frequency, and mortgage status. Also validate that if “Mortgages on Real Estate” liability is non-zero, at least one parcel includes a mortgage balance, and the sum of mortgage balances is reasonably consistent with the mortgage liability total (exact match or within a defined tolerance if partial ownership is allowed). If required parcel fields are missing or mortgage totals are inconsistent, the form should be flagged for correction because collateral and debt cannot be verified.
Common Mistakes in Completing SBA Form 413
People often skip the “Check all that apply” section or check the wrong program because they assume the lender/agent will route it correctly. This can lead to the form being treated under the wrong rules (e.g., different recency requirements, spouse requirements, or submission portal), causing delays or rejection. Always confirm which SBA program you’re applying under and check the matching box(es) before completing the rest of the statement.
Applicants frequently enter business bank accounts, business debts, or business-owned real estate even though the form explicitly requests personal information. This misstates personal net worth and repayment capacity and can trigger follow-up documentation requests or credibility concerns. Only list personally owned assets/liabilities (and your share of jointly owned items), and keep business balance sheet items on business financial statements, not Form 413.
A common oversight is leaving the “This information is current as of (mm/dd/yyyy)” blank or using a date outside the allowed window (within 90 days for Disaster; within 120 days for 7(a)/504/SBG/8(a)/WOSB). An out-of-date statement can be treated as noncompliant and may require resubmission, delaying underwriting or eligibility review. Use a recent date and re-check the program-specific timing requirement before submitting.
Many people list the full value of jointly owned property (or the full debt) without allocating the correct share, despite the instruction to “divide all jointly owned assets and liabilities, as appropriate.” This can inflate assets or understate obligations, producing an inaccurate net worth and raising questions during verification. Allocate your ownership percentage consistently for both the asset and the related liability, and be prepared to explain the split (e.g., 50/50 with spouse).
Applicants often miss that a spouse may need to complete a separate Form 413 (WOSB/8(a) unless legally separated) and that the spouse must sign when spousal assets are included for a 20%+ owner. Missing spouse documentation is a frequent reason packages are deemed incomplete and kicked back. Confirm marital status rules for your program, include separation documents if applicable, and ensure the correct signature lines are completed.
Because the form requires “Total must equal total in assets column,” arithmetic errors and omitted line items commonly cause the statement not to balance. A non-balancing PFS signals inattention and forces the lender/SBA reviewer to request corrections, slowing processing. Recalculate totals after all entries, ensure net worth is computed as Total Assets minus Total Liabilities, and double-check that no category was left out.
People frequently enter amounts with cents in some places and rounded figures elsewhere, which creates small mismatches and reconciliation issues. While it seems minor, inconsistent rounding can cause totals to be off and invites avoidable clarification requests. Round all entries to whole dollars consistently and re-sum totals after rounding.
Applicants often fill in the summary numbers on page 2 but fail to complete the supporting schedules (Sections 2–8) that the form explicitly references. Without noteholder names, collateral, mortgage account numbers, property details, or tax lien information, reviewers cannot verify the figures and will suspend processing pending details. If you enter a number in a line item that says “Describe in Section X,” complete that section (or attach a signed, labeled attachment).
A frequent misunderstanding is using purchase price for real estate instead of present market value, using account balance for life insurance instead of cash surrender value, or listing retirement accounts without identifying them in Section 5. These valuation errors can materially distort net worth and eligibility determinations (especially for WOSB/8(a) economic disadvantage thresholds). Use current, supportable values (statements, appraisals/estimates, brokerage quotes) and follow each line’s specific definition.
People commonly ignore the contingent liabilities section (endorser/co-maker obligations, judgments, “other special debt”) and forget to disclose unpaid taxes or tax liens. These items can significantly affect repayment risk and are often discoverable through credit/tax checks, creating trust issues if omitted. Disclose all known contingent obligations and provide detailed unpaid tax information in Section 6 (type, agency, due date, amount, and lien attachment).
Applicants sometimes provide mismatched addresses (home vs business), omit zip codes, use the wrong business applicant name, or enter SSNs/phone numbers in the wrong format or with missing digits. This causes identity verification problems, credit pull delays, and confusion about which entity the statement supports. Use the legal name of the applicant/borrower, provide complete addresses, and enter SSN and phone numbers in the requested formats.
It’s common to forget signatures, dates, or printed names on the certification page, or to attach extra pages that are not identified as part of the statement and signed as required. Unsigned certifications can make the submission invalid and force resubmission, and unsigned attachments may be disregarded. Ensure every required signer signs and dates, and label each attachment (e.g., “Section 2 – Notes Payable”) and sign it before submitting.
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