#Fake bank statement sample checklist how to
How to Prepare a Stock Statement for Bank loan? Hence the inventory statement (stock statement) must have a justifiable value of inward stocks and outward stocks. If the net value of inwards and outwards do not tally, bank may ask justification prior to disburse the fund for further business. They wanted to know how the disbursed amount has been spent over the time by checking the net stock inwards vs net stock outwards of the products and its value including opening stock balance and closing stock balance in a particular period. First, how possible this loan be met at maturity? And, secondly, if something went wrong, how the loan amount be paid back?
What Information Bank Seeks from a Stock Statement?īanks usually eager to know two things from this statement. Some banks, like SBI, provide their own statement format but some may ask general stock data which is given here. Frequency for submission of the Stock statement report shall depend on the nature of the business, loan type, and of-course varies bank to bank. Some banks ask stock report to be submitted every month (monthly stock statement) in a particular date wherein some may ask quarterly or half yearly or even annually. In order to protect bank's interest over the amount they have given for business, most banks ask Stock Statement from their customer who has availed Business loan either Cash credit (CC) or Over draft (OD). A typical Stock Statement Should Include: To keep the business up and running, lending institution should physically verify and record the Stock Statement data in their accounts and make sure both data (Stock Statement data and physically verified stocks) must be tallied within the period of submission.
It must be collected by Bank or Financial Institution as a documentary evidence from its customer who has taken business loan. A Stock Statement is a periodical statement declaring details of goods stocked in godown or business premises to accomplish business sales.
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