Business Loan Packaging
Generally, business owners don’t prepare a complete loan package for consideration by a lender. This often results in significant delays in obtaining the credit needed and, in some cases, no loan at all. Stoney-Wilson will gather the necessary information to package a loan request, make sure the financial information presented makes sense, provide insight into specific bank’s lending practices, coach business owners on how to “sell” their loan request to bankers or other lenders and help to locate the right lender.
Credit needs review
Do you know if you need a loan? Do you know what type of loan you need? Can you fund your needs internally in lieu of getting a loan?
Financial analysis
Do you look at your financial statements? Do you understand your financial statements? Do you know where your revenues are headed and why? Do you know when your expenses are out of line and how to fix the problem?
Financial covenants
What will a bank ask for when granting you that equipment loan, line of credit or building loan? Do you know about collateral valuation covenants? Cash Flow or Debt Service covenants? Personal guarantees? Reporting covenants? Limits to your capital spending?
Liability issues
Who’s liable if your loan repayment plan becomes a problem? What’s the responsibility of a guarantor? A co-borrower? Your spouse? What happens if your collateral value becomes lower than the balance on your loan?
Loan packaging
A custom, lender-friendly loan package will be developed to enable you to meet with and sell your loan request to the lender, including renewals.
Lender connection
Where needed, a banker interested in your loan package will be brought in by Stoney-Wilson. It’s our job to stay in the loop with lenders interested in your business.
