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A SBA Form 413 is known as a Personal Financial Statement. It will be used by the United States Small Business Administration. This form needs to be completed by each proprietor for the business, as well as each partner or stockholder who owns 20% or more interest or stocks and any party who has given a guaranty on the business’ loan.
Each will need to include their personal identifying information and contact information. The next section will be for the personal financial information. That will include the party’s assets and liabilities. Assets such as stocks, real estate, and other taxes should be listed individually. Liabilities including unpaid taxes should also be described in detail. The SBA will verify this information to determine the state of the party’s finances and their creditworthiness.
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