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Financement et conseils


calculatriceThe benefits of a personal information sheet and budget

So you’ve decided to start a business. Congrats! Whether starting up from scratch or acquiring an existing business, your decision will have an impact on your personal and family life, both on an organizational and a financial level, with the ultimate goal to improve your situation. However, to assess your likelihood of succeeding, some basic information can be required at the analysis stage of your project, including your personal information sheet and budget.

What is a personal information sheet, and what is its purpose?

A personal information sheet (Personal Information Sheet form >>) is a document that paints a picture of your financial value. It describes your personal assets (homes, land, vehicles, available cash, investments, RRSPs, etc.) and liabilities (personal loans, mortgages, credit cards, credit lines, income taxes owed, etc.).

This document allows us to estimate your value within the context of the loan requested, as well as your personal debt load, and to determine your ability to inject money into your business project and, where appropriate, provide any available guarantees, as required.

A personal information sheet is a snapshot taken on a specific date (it can vary from one day to the next). It must be signed and dated.

Personal budget

A budget (Budget Form >>) is usually established on a family base. The idea here is to identify the monthly family needs considering all the expenses that a household can incur (rent, mortgage, heating, television, telephone, food, travel, insurance, leisure, etc.).

Once these expenditures are identified, the available sources of income to meet these financial needs must be determined (family allowances, salaries, other incomes, etc.), including any income from the business.

Since the goal in starting a business is to improve one’s situation, we have to make sure that the business will be able to maintain the family’s standard of living without adversely affecting its financial health.

An SADC advisor can help you understand these documents and support you throughout your project.


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