Guide
Applying for a business loan? What lenders usually look at
Lenders want to know two things: can the business repay, and are the figures it shows them right? Having clear, reconciled monthly figures ready shortens the process and changes the conversation.
What lenders commonly ask for
- Recent profit and loss statements and balance sheets
- Bank statements, usually several months
- A cash flow forecast showing how repayments will be met
- Details of existing loans and repayments
- What the money is for, and how it will be repaid
The questions behind the paperwork
- Does the business earn enough, after its costs, to cover the new repayments with room to spare?
- Is the income steady, or concentrated in a few customers?
- Do the books agree with the bank statements?
Get the figures right first
Figures that do not match the bank are the fastest way to slow an application down. Reconcile first, then prepare the pack. A forecast that includes the new repayments shows you have thought about the months ahead, not just the past.
How Big4CFO helps
Every month you receive a profit and loss, balance sheet and cash flow statement checked to the cent, a 13-week forecast and, on the Leverage plan, your loan repayments set beside your cash. It is reporting software: lenders make their own assessment, and nothing in it is a credit opinion.
Have it worked out on your own figures
Big4CFO checks your books to the cent and produces this every month, from your own records. One-time reports cost $49 (one month), $99 (three months) or $199 (twelve months). Monthly plans start at $349 a month (Foundational), with Growth at $599, Leverage at $899 and Capital Stack at $1,999.
Questions
- How many months of figures should I have ready?
- At least twelve months of monthly figures is a sensible aim, with the most recent month as current as possible.
See it on your own figures
One-time reports from $49, delivered within minutes. Monthly plans from $349. Every payment carries a 14-day money-back guarantee.