SBA lenders view of personal balance sheet

by a searcher from Columbia University - Columbia Business School

5 months ago

Do lenders (SBA or otherwise) look at my personal balance sheet inclusive of my wife's 401k & IRAs or solely at my own assets + our joint assets like house & brokerage accounts? Since the spouse usually has to sign the PG anyway I would think all are included. 

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searcher from Baruch College-The City University of New York - The Zicklin School of Business

From my experience your wife's finances aren't required on your personal balance sheet. You can choose to include her assets to improve your odds of approval or to reduce other collateral needs, but it's not required. If your home is required for collateral and it is jointly owned, then she will need to sign. Thanks ^Searchfunder member‌ for the tag.

4 months ago | like reply | 0 likes

searcher

SBA and other lenders (don't forget local banks!) want to see everything. More assets/signers the better. If you're uncomfortable betting the farm, then maybe the deal isn't the right one?

5 months ago | like reply | 0 likes

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