What is a month to date (MTD) business bank statement?
Get approved for business loans that specialize in bank statements required since the beginning of the month.
FAQ Frequently Asked Questions
What is a month to date bank statement?
A statement that shows the activity since the beginning of the cycle. The beginning of the cycle is usually the beginning of the month.
Why are lenders asking me for the most recent activity on my account?
Lenders want to see how your business cash flow has been since the beginning of the month. They also want to compare your current cash flow to last month and the most recent months.
What are lenders looking at in a month to date bank statement?
Lenders look at total deposits compared to previous months, the current balance and if the account is overdrawn or currently has a positive balance. They also look at average balances, the number of deposits and whether there were any overdrafts or nsf’s. Business transfers and other loans received during the month are considered.
How to get a MTD month to date bank statement
For: Desktop, laptop or tablet.
1. Open your statement. While online and viewing your statement, right click (either on trackpad or on Mouse) and choose “print” on the drop down menu that pops up. A dialog box pops up.
2. View dialog box. At the bottom right, select “save”. Another dialog box pops up.
3. View pop up box. Name the file as you wish and click “Save”.
4. Download file. The file has been automatically downloaded to your
device’s designated download section.
Bank Statement Image Formats
The following formats are the most common and are supported in all browsers including Chrome, Edge, Firefox, Safari, and Opera:
1. Pdf format. PDF (Portable document format) is among the most common and preferred formats. It can be opened and viewed by the highest number of programs and devices. If you must send a month to date statement that is not in a pdf format, try to convert it.
2. JPEG format. Joint Photographic Expert Group image.
3. GIF format. Graphics Interchange Format. Common image format.
4. PNG format. Portable Network Graphics. Good format for compressing files.
5. APNG format. Animated Portable Network Graphics.
6. ICO format. Microsoft Icon
7. SVG format. Scalable Vector Graphics. More commonly used in graphics
Image Format Table
Here are the most common image file types, which are supported in all browsers
(Chrome, Edge, Firefox, Safari, Opera):
|Abbreviation||File Format||File Extension|
|Portable Document Format|
|APNG||Animated Portable Network Graphics||.apng|
|GIF||Graphics Interchange Format||.gif|
|ICO||Microsoft Icon||.ico, .cur|
|JPEG||Joint Photographic Expert Group image||.jpg, .jpeg, .jfif, .pjpeg, .pjp|
|PNG||Portable Network Graphics||.png|
|SVG||Scalable Vector Graphics||.svg|
What are the lenders looking for?
Total deposits counted are deposits from true business revenue. Transfers, rebate credits and other deposits that do not look like business revenue deposits are not counted.
More deposits are better than fewer deposits. 5 or more deposits on average per month is ideal.
The loan will not close and be withdrawn with an overdrawn account. The most recent activity shows the current balance. Make a deposit and then provide a monthly activity statement.