Must I submit a personal financial statement with my loan application?

Yes. The SBA must review your financial statement and one for each partner, officer, director and stockholder with 20 percent or more ownership. The SBA requires the principals of the business to personally guarantee repayment of the loan and, in some instances, to secure the loan by pledging additional collateral.




Get the Info That Matters Most to You With SBA Direct

Find information on:

(Select your topics)

Get Local Assistance Right in Your Area

Counseling, mentoring, and training from an SBA District Office, SCORE Chapter, Small Biz Development Center or Women’s Biz Center in your area.

FIND RESOURCES

join the community


  No relevant media for this area.

NCSuccessStoryGuadalupeChavarria
You might say that it was Guadalupe Chavarria’s destiny to own his own salon. He has been immersed in the hair styling industry as long as he...
How on earth does a classically trained pianist from South Korea become a world class chef in Columbia, Missouri?  Jina Yoo’s story is as...
Cory Laplante
Cory J. Laplante grew up in the town of Van Buren, Maine. At the age of 16, Cory lost a leg to osteosarcoma, a rare form of bone cancer. At the time...