Duties of the banking financial analyst committee
Whether you are looking for startup or growth capital for your business idea or ongoing business your loan request paperwork will go through a furious battle of a financial stress test to try and prove that your business will be profitable for the bank or investor. Below are some of the basic financial functions of a bank loan approval committee.
• The Financial Analyst will conduct special studies to analyze complex financial actions and prepare recommendations for policy, procedure, control, or action.
• Analyze financial information to determine present and future financial performance.
• Evaluate complex profit plans, operating records, and financial statements.
• Direct preparation of studies, reports, analyses, and recommendations in areas such as budgets, forecasts, financial plans, governmental requirements, statistical reports, and business forecasts.
• Coordinate with all levels of management to gather, analyze, summarize, and prepare recommendations regarding financial plans, trended future requirements, and operating forecasts.
So before beginning your journey into this maze of glory you will be better served by getting your lending requirements pre-underwritten way before you sit down with a bank officer unprepared. Banks will instantly approve or deny your request on the spot. Keep in mind that approval does not necessarily mean getting funded, it just means your request will go to the next step which is the 5 points mentioned above.
We believe you will increase your chances of getting funded by going through the 5 points way before sitting in front of a bank officer. First they (the bank officer) will hard pull your credit report (which is not good) then they will make a decision to go forward right there on the spot. If you are pre-approved for funding, then they will send you through the 5 points and in most cases you are unprepared for the nickel and dime back and forth (tennis ball) scenario. This can take months of pain and you can still get a denial.
With a network of over 900 lenders we will not be bogged down by denying loans with low credit scores. However judgments, IRS liens and recent Bankruptcy filings could propose a challenge but in some cases we are able to work around some of these issues. But for the most pare we only care about the 5 points and how to get your money for a new business or into your existing business and get to a cash flowing situation. We care about the character, historical performance and integrity of the borrower and not the borrowers’ credit score. If credit scores were the first objection of all loan scenarios, then the whole economy would come to a screeching halt overnight.
So let us pre-underwrite your loan request at no charge (for a limited time only) and get you funded in days or weeks and not months or years as is sometimes the case for really large lending (really don’t need your business) institutions.