Bank-Ready Checklist
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Business Loan Readiness Assessment
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Your Bank Readiness
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Use this checklist to assess how prepared your business is for a bank financing application. Each item represents a real factor bankers evaluate. Complete items are saved automatically — return any time to continue. When you’re ready, share your results with MECA Capital Advisory for a free evaluation.
1
Financial Documentation
Accountant-Prepared Financial Statements
Notice to Reader (NTR) or Review Engagement statements for the last 2 fiscal years, prepared by a licensed CPA.
12–24 Month Financial Projections
Detailed Profit & Loss, Cash Flow, and Balance Sheet forecasts with clearly documented assumptions.
Up-to-Date Accounts Receivable & Payable Aging
Current AR/AP aging reports showing your collection patterns and supplier payment history.
2
Credit & Debt Profile
Personal Credit Reports Reviewed (All Directors)
All guarantors have checked their personal credit reports within the last 30 days and resolved any derogatory items.
Debt-to-Equity Ratio Reviewed
Your capital structure has been analyzed and is within acceptable ratios for your industry sector.
Existing Loan Obligations Documented
All current loans, lines of credit, and lease obligations are listed with outstanding balances and monthly payments.
3
Business Plan & Loan Purpose
Specific Loan Amount Identified
You know the exact dollar amount needed and can justify it with supporting quotes, invoices, or cost breakdowns — not “as much as I can get.”
Clear Use of Funds Documented
Equipment, leasehold improvements, working capital — each dollar of the loan is assigned to a specific purpose.
Written Business Plan or Executive Summary
A concise document outlining your business model, market opportunity, competitive advantage, and management team.
4
Banking & Operational Infrastructure
Dedicated Business Bank Account (Min. 12 Months History)
Your business operates through a dedicated commercial account with at least 12 months of consistent transaction history.
Third-Party Payroll System in Place
Using a verified provider (ADP, Ceridian, Payworks) for auditable remittances and source deduction compliance.
CRA Tax Obligations Current
All HST/GST filings, corporate tax returns, and payroll remittances are up to date with no outstanding CRA balances.
5
Advisory & Professional Team
Licensed CPA Engaged
A Chartered Professional Accountant is actively preparing your financial statements and advising on tax strategy.
Banking Advisor or Liaison Appointed
A dedicated advisor (such as a MECA Capital Strategist) is coordinating your application, managing lender communication, and ensuring first-time approval positioning.
Get Your Free Bank Readiness Evaluation
Share your results with a MECA Capital Strategist. We’ll review your score, identify your gaps, and tell you exactly what needs to be in place before you approach your bank — at no cost.
