Personal Financial Statement (PFS)
What a Personal Financial Statement is, why the SBA needs it, and how to fill it out quickly—even if you don’t track your net worth.
WHY
Because you’re personally guaranteeing the SBA loan, the bank needs a snapshot of your financial health.
The PFS gives them a simple summary of what you own (assets) and what you owe (liabilities), so they can confirm you’re in a solid enough place to back the loan.
The main purpose that the Personal Financial Statement is used for is to ensure that the business, nor the owner, already has the means to fund the requested loan amount themselves. This is introduced by the SBA to ensure that the 7(a) Program is being used to assist businesses who would not be able to receive funding opportunities elsewhere or through other traditional banking methods.
WHAT
A one-page form showing your:
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Bank account balances
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Real estate or business ownership
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Vehicles, retirement accounts, investments
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Credit card balances, mortgages, other debts
👉 Each 20%+ business owner needs to complete their own version.
HOW
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We’ll send you a fillable PDF or Excel template
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Use estimates if needed—just keep them honest and consistent
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Sign and date the bottom of the form before uploading
Example:
📣 Pro Tips:
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You can pull most numbers from your latest bank or loan statements
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Don’t forget to include any jointly owned property or debt
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It usually takes 10–15 minutes to complete—no documents need to be attached at this stage
FAQ – Personal Financial Statement (PFS)
Q: Do I need to submit proof for everything I list?
A: Not right now. The bank may ask for backup later, but a signed statement is enough for underwriting.
Q: What if I don’t have many assets?
A: That’s okay. The SBA just wants a clear picture. Focus on being accurate—not impressive.
Q: What if I co-own assets or debt with a spouse?
A: Include your portion and make a quick note if it’s shared.
Q: Who needs to fill this out?
A: Any individual who owns 20% or more of the business.