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Items needed to complete your 8(a) Personal Financial Statement

The following is a detailed list of items needed to complete the Personal Financial Statement section of your 8(a) Application.

Please note, this list may or may not cover every personal asset or liability you may have and should serve as only a general list.

All amounts reported to the SBA must be no older than 30 days old when submitted to the SBA.

Even though the SBA does not request these items within your certify.sba.gov application you should keep a copy of the following if the SBA analyst comes back and requests verification of all assets and liabilities.

Assets:

  • Checking account statement(s).
  • Savings account statement(s).
  • IRA and any other retirement account statements along with a complete copy of the written terms and conditions for each retirement account held and a written certification that your retirement accounts are legitimate.
  • Copies of any shareholder/member promissory notes or personal loans owed to you.
  • Life insurance statement for any life insurance account that has a cash surrender value only, showing the cash surrender value, the face amount of the policy, name of insurance company and any beneficiaries.
  • Stocks, mutual funds and savings bonds statements. You will need to identify the number of shares owned, name of security, cost, market value quotation/exchange and date of statement.
  • Current balance sheet and income statement for the applicant business.
  • Type of real estate/property owned (e.g., primary residence, investment, vacation property, etc) along with address, date purchased, original cost, present market value (see #10), full name and address of mortgage holder, mortgage account number, mortgage balance, amount of payment and status of mortgage (e.g. current, delinquent, etc.)
  • Deed for each property owned.
  • Fair market valuation for each property owned.
  • Homeowners insurance policy for each property owned.
  • Kelly Blue Book value for each automobile owned.
  • Title or registration for each automobile owned.
  • A estimate of the value of your “Other Personal Property” along with a detailed listings of the contents.
  • Other Assets (Examples below):
    • Other businesses owned (Current balance sheet and income statement).
    • Boats (NADA value).
    • Motorcycles (NADA value).

Liabilities:

  • Notes payable to banks such as HELOC, 2nd mortgage, Student loans, personal loans, shareholder/member loans, etc. (Full copy of original loan agreement along with a current statement). Additionally, you will need to identify the original balance for each note, the current balance, payment amount, frequency, how secured and whom the note is with.
  • Automobile loan statement(s).
  • Credit card statement(s). Include even if $0 balance, when submitted.
  • Statement of loan balance for any loan taken on life insurance.
  • Mortgage statement for each property owned.
  • If past taxes are owed, a current balance statement showing balance owed. Additionally, you will need to identify the type of taxes owed, to whom payable, when due and amount.
  • Any other liabilities such as boat, motorcycle, loan statement(s), etc.

Source of Income:

  • An amount for your current annual salary.
  • An amount for any Net Investment income you may earn in the current year.
  • An amount for any real estate income you may earn on properties you own.
  • An amount for any any other income such as VA disability income, distributions, dividends or bonuses, etc.
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