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Any underwriting process related to a commercial loan will likely involve one important document— the tax return. In tandem with other business statements, this highly relevant document helps lenders determine the viability of a borrower as a candidate for a loan.
In terms of internal financial documents, lenders may want balance sheets and cash flow statements, but they will likely always ask for one document, in particular — the income statement.
The underwriting process is at the heart of the lending process. As an underwriter, you engage in detailed work that involves verifying income, assets, debt and property details in order to ensure that a deal is as valuable and secure as possible for your financial institution.
Lending fraud is a growing trend, and one that is costing both large and small financial institutions. Everyone from the local credit union to large banks is feeling the sting. Small and mid-sized business fraud has increased almost 7 percent since 2020, and costs related to fraud are highest for companies in fintech.
Automation is a powerful lever that will amplify your entire approach to doing business as a lender, including your tax return spreading process.
Financial statements involve the same due diligence, analysis and data-based decision-making one might expect in the consumer space.
Go deeper into the origination process, faster.
Contact UsThe goal of financial spreading is simple. You lend a company money and, over time, they pay the loan back with interest. In the end, you make a profit.
If you underwrite SBA, CRE, C&I, small business, consumer mortgage and auto loans, here is how you can save time with software.
The word ‘data’ is tossed around a lot today, but it’s no trend. Data is the lifeblood of commerce, and its importance in commercial banking cannot be underestimated.
FlashSpread is transforming the commercial lending and fintech industries. Lenders and financial analysts used to drown in a sea of financial data stored in paper documents.
Learn more about this amazing software and how it can help your SBA loan process.
Here is what easy software integration looks like in the context of financial spreading for commercial lending and why it matters.
