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and today we are going to talk about your personal financial statement in capacity to why youre going to need it for lending purposes so were going to start with form 413 which is an sba personal financial statement so youre going to hear form 413 if youre applying for sba financing um this is always kind of like the initial critical part is put putting your assets and liabilities down on paper and this is sbas specific form but whenever youre applying for any type of commercial financing we we always ask for a pfs a personal financial statement this is a critical piece is is the sponsors or the borrowers how do they look on paper right this is going to be a big indication of are you going to be able to qualify for the financing on top of the business or the property right so so you have to have on on business financing you have to have credit worthiness um and assets over liabilities and your property or your business has to have cash flow so if youre buying an existing busines
