Sba Personal Financial Statement 2014

To help borrowers, and ultimately, our lenders, we have developed a very easy to follow guide that walks them through the process at their own pace.

The second biggest factor is the quality and thoroughness of your credit memo.

This, of course, assumes that you have followed all other policies and procedures set out in the SOP.

This is an area where guidance from VITAL provides a great deal of value.

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., we looked at the mission and original intent of the SBA.This background is helpful for understanding the lens through which the SBA determines eligibility and approval of loans.It has also afforded me the opportunity to get to know professionals who have shared their wisdom with me.One of the biggest things I have learned is that no matter how long you have been involved in SBA lending, no one person has every answer to every situation.For a business more than two years old, the SBA will focus on the borrower’s historical cash flow matched against the proposed SBA loan debt service and any other obligations.The greatest weight will be placed on the most current financial performance.Whenever someone asks me this, my first question is “Will your institution approve this loan?” My second question is, “If so, why do you believe you need a SBA guarantee?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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