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loans
Why some loans cost more than expected
One thing I see business owners underestimate all the time when taking on debt is the financial reporting requirements that come with it.
Depending on the size of the loan and how the lender views risk, you may be required to provide:
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Internally prepared financial statements
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Reviewed financials from an outside accounting firm
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Or a full annual audit
What often surprises people is that these requirements are not one-time asks. They remain in place for the life …
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