(Answered) Assignmentdo banks require projected financial

Finance

Assignment

Do Banks Require Projected Financial Statements?

Purpose

The purpose of this exercise is to explore the practical importance and use of projected financial statements in the banking business.

Instructions

Contact two local bankers by phone and seek answers to the questions that follow. Record the answer you receive, and report your findings to the class.

1. Does your bank require projected financial statements as part of a business loan application?

2. How does your bank use projected financial statements when they are part of a business loan application?

3. What special advice do you give potential business borrowers in preparing projected financial statements?

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