Quarterly Financial Report for Bank?

[Wendy Carpenter]

I have a new(ish) commercial loan on a mini storage facility. I saw in my loan docs that I'm supposed to submit quarterly financial reports to them.

Can someone help me figure out how to structure my report or what they are looking for? I have been trying to Google it and there's so many different things, that I'm not sure what I'm supposed to be submitting or not. 

 I want to build a good relationship with them, so I don't want to ask them and seem like I don't know what I'm doing (fake it til you make it!). 

[Alexander Felice]

Originally posted by @Wendy Carpenter:

@Alexander Felice, it’s actually a portfolio loan. Does that change it at all?

 not really, but if it's a smaller bank then that explains why they are staying so tight.

I'm sure they will accept your financials if you do them on excel and not QuickBooks or equivalent, but I recommend making it look very nice and easy to read.

You'll likely only need to submit an income statement and a balance sheet.

It's worth hiring an accountant to have it all set up for you, you'll be able to maintain it pretty easily.

As your loan gets paid on time, and you show a positive trendline of increased DSCR I'm sure you can ask to remove this quartlerly requirement. For annuals you'll most likely only need an updated PFS (personal financial statement) and T/R