What do lenders read in your bank statements?
Commercial lenders read in your statements what the business really takes in, how stable the account is and what it already owes. Each lender draws its own conclusion.
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- What does a lender look at in bank statements?
- Four things: actual revenue, the stability of the account, commitments to other lenders and how long the business has been operating. It reads them month by month, in the business account.
- Do all deposits count as revenue?
- No. Only sales and client payments count; transfers between your accounts, loans, refunds and tax credits are set aside.
- Which statements are needed?
- The business account’s statements for the last few months, as your institution produces them, preferably as PDFs. We never ask for your banking credentials.
- Does one weak month hurt the file?
- Not by itself. The lender reads the whole period: a passing dip is read differently from a decline that lasts.
- Who reads my statements at Capital Facile?
- A person reads every file and pulls out the facts lenders look at. Your file is presented only to the lenders you authorize.
What the lender looks at
- Actual deposits, month by month
- Sales and client payments, without transfers or loans.
- Trend over the period
- Deposits that climb, hold or fall from one month to the next.
- Days in overdraft
- The time the account spends below zero.
- NSF cheques
- Every payment returned for lack of funds appears in the statements.
- Payments to other lenders
- Repayments to other lenders count as commitments.
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An intermediary, not a lender.
The lender sets the final amount and its cost in its written offer.
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