SBA Information Notice: Issuance of SBA Form 413
Summary
SBA Information Notice, control no. 5000-813332, effective July 13, 2021, addressed to SBA employees and SBA Lenders, announcing the issuance of SBA Form 413 (7a/504/SBG/ODA/WOSB/8a), Personal Financial Statement. It explains that SBA consolidated four versions of the form into a single document with updated instructions, data fields, certifications, notices and disclosures, which under the Paperwork Reduction Act of 1995 will serve the 7(a), 504, SBG, ODA, WOSB and 8(a) programs. The notice says SBA, lenders, CDCs and sureties use the form to assess the repayment ability and creditworthiness of applicants and their owners.
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Full text
SBA Information Notice
TO: All SBA Employees and SBA Lenders CONTROL NO.: 5000-813332
SUBJECT: SBA Form 413 Updated and Issued EFFECTIVE: July 13, 2021
The U.S. Small Business Administration (SBA) is announcing the issuance of SBA Form 413
(7a/504/SBG/ODA/WOSB/8a), Personal Financial Statement. SBA simplified the collection of
information by consolidating four versions of the form into a single document with updated
instructions, data fields, certification(s), notices, and regulatory disclosures based on the Program
Offices (7a,504,SBG,ODA WOSB, 8a). Pursuant to the Paperwork Reduction Act of 1995, the
revised form will serve all 7(a), 504, SBG, ODA, WOSB, and 8(a) Loan Programs.
For the financial assistance programs, the SBA, its participating lenders, CDCs, and Sureties use
the information collected by SBA Form 413 as part of the analysis to determine repayment
ability and creditworthiness of applicants and their owners for an SBA loan guaranty or a
disaster loan, or with respect to the SBG program to assist in recovery in the event that the
contractor defaults on the contract. SBA (or the lender, CDC, or Surety) reviews the information
at the time of application and maintains it in the file for use in loan servicing or auditing a loan or
bond application, if necessary.
With respect to SBA’s contracting assistance programs, SBA uses the information for the
8(a)/BD Program and the Women-Owned WOSB Program to determine if the applicant or
participant meets the economic disadvantage eligibility requirements. Participants in these
programs are required to submit updated information annually to help SBA confirm that the
participant continues to meet the economic disadvantage requirements of those programs.
The consolidated SBA Form 413 provides detailed instructions for each program office,
modification to the data collect, as appropriate for financial or contract assistance as well as
updated certifications and regulatory disclosures and Notices. The data collection content fields
remain unchanged for each program office.
To minimize the burden on small businesses for 7(a) loans, 504 loans, and surety program
purposes, SBA accepts personal financial statements in other formats that might have been
prepared for the lending institutions or surety companies, provided that the statement submitted
contains the same data collected by SBA Form 413. Alternate formats generally accepted by
PAGE 1 of 1 EXPIRES: 7-1-22
SBA Form 1353.3 (4-93) MS Word Edition; previous editions obsolete
Must be accompanied by SBA Form 58
Federal Recycling Program Printed on Recycled Paper
SBA include the lender’s own equivalent form provided it collects all the same data, the majority
of Office of Thrift Supervision (OTS), Federal Deposit Insurance Corporation (FDIC) or Federal
Reserve member bank forms, and accountant-prepared statements.
Similarly, disaster loan applicants may submit the information using alternative formats,
provided that the same data required by SBA Form 413 is submitted.
For purposes of the 8(a) BD Program and the WOSB Program, the applicants or participants
must use SBA Form 413 to provide the requested data
The consolidated SBA Form 413 (7a/504/SBG/ODA/WOSB/8a), Personal Financial Statement
dated May 05-2021 will expire on May 31, 2024. SBA Lenders and Surety Companies/Surety
Agents must begin to utilize the renewed version of SBA Form 413
(7a/504/SBG/ODA/WOSB/8a) immediately. Applications currently in process, SBA Lenders
and Sureties may continue to use the previously approved version. Beginning 60 days after of
this notice, SBA will only accept the renewed version of the form.
Questions
Questions concerning this Notice may be directed to the Lender Relations Specialist in the local
SBA Field Office.
Dianna L. Seaborn
Director
Office of Financial Assistance
PAGE 2 of 2 EXPIRES: 7-1-22
SBA Form 1353.3 (4-93) MS Word Edition; previous editions obsolete
Must be accompanied by SBA Form 58
Federal Recycling Program Printed on Recycled Paper
File and source
- File
- 2021-07_Information-Notice-5000-813332_SBA-Form-413-Updated-and-Issued-508.pdf
- Size
- 82,615 bytes
- SHA-256
- acf65c11da1205f1ca782dc65232940a14e8a4f1f43d8d2976ee243150fd5028
- Original
- www.sba.gov