Personal Financial Statement
A document listing a business owner's personal assets, liabilities, and net worth, often required as part of an SBA or other loan application, especially when a personal guarantee is involved.
A personal financial statement gives a lender visibility into an owner’s overall financial position beyond just the business itself, which matters directly when the owner is also personally guaranteeing the loan.
SBA loans in particular typically require this document using a standardized form, since the SBA’s guarantee program has its own specific documentation requirements around a borrower’s personal financial picture.
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