From the course: Financing Your Business

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Revenues

Revenues

From the course: Financing Your Business

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Revenues

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- What are your revenues? This is one of the most important questions that many lenders will ask. Some want to see business bank account bank statements for the last six to 12 months or even longer. Some lenders will want to see business tax returns in order to verify the revenue in your business. This can be a little tricky because most business owners are trying to minimize their revenues for tax purposes, but maximize them for purposes of getting a loan, so sometimes these two goals can be at odds with each other. In addition, if your business has seasonal fluctuations, the lender may want to see revenues going back further, so they can see how your business earns its money over time as opposed to in a short period of time. Also keep in mind, that some lenders are going to be looking at things like, how many sources of income you have. If your business is dependent on one or two, or even three major clients, then your…

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