Personal Financial Statement

If you’re trying to get a business loan from a bank or financing from an investor, they may ask you for a personal financial statement.

A personal financial statement is a snapshot of your financial position at a specific point in time. It lists your assets (what you own), your liabilities (what you owe), and your net worth. To get your net worth, subtract liabilities from assets. Your net worth can be either positive (if you have more assets than liabilities) or negative (if you have more liabilities than assets).