Sba Personal Financial Statement 2014

A business that would benefit from extending the amortization of its current debt, and as a result, meets the minimum debt service coverage ratio.3.A business less than two years old that has a good business plan and reasonable projections, but simply doesn’t have a proven track record. A business that does not meet the minimum debt service coverage ratio. A refinance of existing debt where there is the appearance of shifting a potential loss from the current lender to the SBA. A business less than two years old that lacks a good business plan and/or their projections are not reasonable.

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VITAL has developed a checklist that makes this process very straightforward and simple for all parties.

Lenders must analyze each application in a commercially reasonable manner, consistent with prudent lending standards.

For a business under two years old, the SBA will focus on the borrower’s projected cash flow matched against the proposed SBA loan debt service and any other obligations.

Please be advised that the borrower’s projections should be thoroughly analyzed for reasonableness. A business that meets the minimum debt service coverage ratio, but is short on collateral.2.

In addition to the “normal” underwriting information, there will be a handful of forms the borrower and guarantors will need to complete.

VITAL uses state-of-the-art technology to assist our clients in providing them with detailed checklists to ensure nothing is missed in the information gathering process.

The SBA wants to see a debt service coverage analysis reflecting debt service coverage at a minimum of 1.15 to 1.00.

There are some nuances in the way SBA calculates debt service coverage that may differ from your current calculations, but we can walk you through the proper analysis.

From an underwriting information perspective, SBA loans can be thought of as business loans that require some additional forms to be completed.

In general, you will need to collect “normal” underwriting information such as historical tax returns, historical business financial statements, agings of accounts receivable and accounts payable, projections, debt schedules, personal tax returns, personal financial statements, etc.


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