Expert: Tony Gregory, Private Banking Relationship Manager
Company: Stock Yards Bank & Trust
Phone: (502) 625-2444
Website: Stock Yards Bank & Trust
Published on September 19th, 2025
When applying for a business loan, many owners focus on their business plan or cash flow, but one of the most important documents you’ll be asked to provide is your Personal Financial Statement (PFS).
Why does it matter? For most small businesses, especially sole proprietorships or partnerships, your personal finances are closely tied to your business. A well-prepared PFS gives the lender a clear picture of your net worth, assets, liabilities, and overall financial health. It helps answer the question: Can this person responsibly manage and repay a loan?
It’s critical to fill out your PFS completely and accurately. Missing information, overestimated values, or unclear liabilities can delay your approval —or worse, cause concern about your credibility. Transparency is key to building trust with your banker.
Alongside your PFS, having organized financial records, such as tax returns, income statements, and balance sheets, speeds up the process and signals that you run your business professionally. It shows that you’re not just passionate about your work, but also mindful of how the numbers tell your story.
Being financially prepared doesn’t just help your chances of being approved for a loan. It shows the bank you’re serious, strategic, and ready to take the next step in growing your business.
Need help understanding what to include in your PFS or financial package? Let’s talk!
