Bank loans and lenders
Audits and reviews for bank loans and lenders
Lenders often require reviewed or audited financial statements before approving a loan or line of credit, and again every year as a loan covenant.
Email info@alice.cpaWhy is my bank asking for audited or reviewed financial statements?
Lenders often require reviewed or audited financial statements before approving a loan or line of credit, and again every year as a loan covenant. Your loan agreement says which type you need and when it's due.
Does my lender need a review or an audit?
Check your loan agreement or term sheet for the words “reviewed” or “audited.” Smaller loans often accept a review, and larger ones usually require an audit. Send us the covenant language and we'll confirm what you need.
When are covenant financial statements due?
Loan agreements usually set a deadline after your fiscal year-end, often 90 to 120 days. Reach out early so we can schedule your review or audit around that date.
Can you help with other lender requests?
Yes. Some lenders ask for agreed-upon procedures on specific items, such as a borrowing base or covenant calculation, instead of a full review or audit. We can scope that too.
Do you work with small businesses, not just startups?
Yes. We work with established small and mid-sized businesses as well as venture-backed startups.