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Starting a Business: Sample Personal Financial Statement
When you are seeking financing for your business, most bankers and lenders will ask you to provide specific financial documents so they can evaluate your application.It is a good idea to provide your lender with as much information as possible when applying for a loan. Below is an example of a basic personal financing statement, which will show a snapshot of your finances at the particular time you prepare the statement.
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Assets Cash $__________ Checking $__________ Savings $__________ Securities $__________ Accounts/notes receivable $__________ Real Estate $__________ Cash value life insurance $__________ Other Assets $__________ TOTAL ASSETS $__________ Liabilities Notes payable $__________ Accounts/bills due $__________ Unpaid taxes $__________ Real estate mortgages payable $__________ Land contracts payable $__________ Life insurance loans $__________ Other liabilities $__________ TOTAL LIABILITIES $__________ NET WORTH $__________ TOTAL LIABILITIES AND NET WORTH $__________ (Assets always equal Total Liabilities and Net Worth) |
FAQs
- What does it mean that corporations have "perpetual existence"?
- Can shareholders of all corporations, large or small, transfer their shares?
- How are corporations taxed?
- What type of business organization is appropriate for my business?
- What are the disadvantages of partnerships?
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