Financial Forecast
The financial forecast is an account document, usually included in your business plan, that projects the revenues and expenses you expect over the next 1-5 years.
The financial forecast is an account document, usually included in your business plan, that projects the revenues and expenses you expect over the next 1-5 years.
If you do not pay the principal and/or interest on your loan by the due date in the loan terms, you will default. In the event of a loan default, the lender has the legal recourse to seize any collateral promised in the loan agreement. In the case of a blanket lien, the lender can go after your business assets if your loan becomes delinquent.
Any loan for which funds have been disbursed and all required documentation has been executed, received and reviewed. For statistical purposes, first or total disbursement is counted as a closed loan.
Cash flow is the term that summarizes all of the cash that goes in and out of your business. Any lender will want to know what your cash flow is in order to determine your eligibility for a loan, or your capacity to repay.
When you apply for a loan, the lender will review your existing financial statements and your application to determine if you are eligible for the loan. By reviewing your sales, projections, and research, the lender decides if you will be able to pay back the loan within the loan term.
Copyright © 2024. This site is managed by Small Business Majority—a 501(c)(3) nonprofit organization.