Personal financial statement guides

A personal financial statement (PFS) lists your assets, liabilities, and net worth as of a date. Who asks for one, what it contains, and how lenders read it.

Step-by-step: pick an as-of date, value assets at market, list liabilities at payoff, compute net worth, and avoid the mistakes lenders notice most.

What SBA Form 413 is, who must complete it for 7(a) and 504 loans, what each section asks for, and how to keep it current through underwriting.

How real estate investors prepare a PFS lenders trust: the schedule of real estate, LLC ownership, credit lines and PALs, and current mortgage balances.

Lenders generally treat a PFS older than 90 days as stale. When to update yours — underwriting, covenant cycles, life events — and how to stay current.

An honest comparison of blank PFS templates, spreadsheets, and software — where each fits — plus the standard PFS structure you can use freely.

A net worth statement and a personal financial statement share the same math. What each term means, what a PFS adds, and which one your lender actually wants.

Guarantees, co-signed loans, and pending claims belong in the contingent liabilities section of a PFS. What counts, how to present it, and how lenders read it.

Real estate on a PFS goes in at current fair market value you can support — appraisal, comps, or a consistent method. How to pick the number lenders believe.

A property purchase changes nearly every line of a personal financial statement — cash, assets, debt, income. What to update, at what values, and when.

A PFS is self-reported, not unchecked. How lenders verify it: credit reports, bank and brokerage statements, tax transcripts, appraisals, and public records.

A personal guarantee makes you personally liable if your business can't pay its debt. Where it's required, the forms it takes, and what it means for your PFS.

SBA 7(a) lenders collect a personal financial statement from every 20%+ owner and guarantor. The checklist: who files, what to gather, and what slows approval.

CRE lenders read a sponsor's personal financial statement for net worth, post-closing liquidity, and global exposure. What they expect and how to present it.

Construction lenders underwrite the sponsor hardest of all: liquidity for overruns, completion guarantees, and a PFS that stays current through the draw period.

Banks collect a personal financial statement from owners and guarantors for a business line of credit — and again at every annual renewal. What to expect.

An honest comparison of the four ways to produce a personal financial statement — where a spreadsheet is fine, where a CPA earns the fee, and where LivePFS fits.