Personal Financial Statement for an SBA Loan: What Lenders Check
Every SBA 7(a) applicant with 20%+ ownership files a personal financial statement. Lenders read it in two minutes — but a sloppy one can stall the whole file.
What goes in
All personal assets at market value (bank accounts, retirement, real estate, vehicles) and all liabilities (cards, autos, mortgages, student loans). Net worth is the difference — lenders reconcile it against your credit report, so don't omit debts they'll see anyway.
How lenders verify
Bank and brokerage statements for cash and securities, Zillow/appraisal sanity checks on real estate, credit pull for the liabilities. Realistic values read as credible; inflated ones invite a full re-underwrite.
Keep it current
PFSs go stale in 90 days for most lenders. Save your statement here and refreshing it for the next request takes two minutes instead of an evening.
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