Credit applications to banks and/or debt restructuring and credit arrangements must be handled wisely. Our firm has extensive experience in submitting credit applications to various banks, following each bank’s specific guidelines and accepted formats, ensuring both convenience and optimal outcomes for our clients. Applications are tailored to the client’s needs and submitted to various banking institutions across the country, including commercial branches, business centers, and the headquarters of different banks.
To prepare the application, we first hold a meeting with the client to review the business’s existing credit obligations and identify the cash flow needs prompting the credit request. Additionally, we will request information about future plans involving investments in fixed assets, entry into new business fields, expansion of existing operations, structural changes, and other relevant developments.
While reviewing the credit structure and aligning it with the business’s needs, we will also collect information regarding the company’s assets and available securities. This includes details on any existing liens, to determine if unnecessary liens can be released and used as collateral for the required credit.
Following a thorough analysis of the data and professional insights, we will submit the credit application on behalf of the client. If necessary, we will assist in negotiations with the banking institution to secure full or partial approval of the requested credit.
Given that our firm, Michael Weizman & Co. – Certified Public Accountants, has deep expertise and familiarity with the banking system, our clients often benefit from significant added value during the preparation of the credit application. In many cases, while working on credit applications, we identify areas where the business’s credit management and asset utilization require improvement. In such cases, we provide thoughtful recommendations for optimizing the company’s financial management, maximizing credit usage, reducing costs, and minimizing unnecessary collateral and risk exposures.
An accountant from our firm will be happy to assist you with this service. Contact us today for a no-obligation consultation.
