Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Commercial Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on . Most recent reply

User Stats

120
Posts
84
Votes
Wendy Carpenter
  • Yelm, WA
84
Votes |
120
Posts

Quarterly Financial Report for Bank?

Wendy Carpenter
  • Yelm, WA
Posted

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!). 

Most Popular Reply

User Stats

2,953
Posts
4,474
Votes
Alexander Felice
  • Guy with Great Hair
  • Austin, TX
4,474
Votes |
2,953
Posts
Alexander Felice
  • Guy with Great Hair
  • Austin, TX
Replied
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

Loading replies...