Financials are not always required on a leaseback. However, a good rule of thumb to go by for any loan request, whether for a leaseback or any other type of financing, is that while financials and bank statements are not required, if a company’s financial statements and bank statements are strong, then the company should want to provide the information.
Whether a company’s bank statements and financials are strong for a leaseback request is somewhat subjective and depends somewhat upon the size of the company, in general, 5 figure and higher balances, beginning, ending and average, are the starting point to be considered strong for bank statements. The higher the better.
Another unusually roadblock that may occur is if the loan officer or credit officer indicates that bank statements and financial statements are not required for a leaseback or other types of financing. If this happens and you know your financials and bank statements are strong, tell them that you want to provided them, even if they are not required, because they are strong and may well help the request. Sometimes some less experienced loan officers may still indicate that the are not required. If this happens, persist and insist on submitting them.
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