Why applications stall
Most loan applications slow down at the financials.
The books are months behind, the P&L doesn't match the bank statements or the tax returns, and nothing shows the business can carry the new payment. The lender sends it back and weeks are lost. We fix that before the application goes in.
Microloan
Loans under $50,000
$950
One year plus year-to-date, a 1-year book-to-tax reconciliation and a 30-minute walkthrough. Paid upfront.
Standard
Working capital, equipment, refinance
$1,950
An existing business with one entity and up to 4 accounts. Two years plus year-to-date and a 60-minute walkthrough.
Expansion
New location, real estate, major hires
$2,950
Everything in Standard, plus a ramp-up projection with a base case and a downside case, and a sources-and-uses summary. Up to 6 accounts.
Complex
Related entities, acquisitions, franchises
From $4,500
Several related entities, buying a business (we work from the seller's financials too), or a franchise. Quoted in writing.
Rush: 5 business days instead of 10 for $750 more ($400 on Microloan). Microloan is paid upfront; other packages are 50% to start and 50% on delivery. One revision round is included. Delivery time starts once we have complete records.
What's in every package
Everything the lender asks for, in one consistent file.
- Reconciliation check
- Every bank, card and loan account tied out through last month-end, so the statements match the bank records.
- Financial statements
- P&L and balance sheet for the years your package covers plus year-to-date, in one clean, consistent format.
- Book-to-tax reconciliation
- Differences between your statements and your filed business tax returns, found and explained, so your numbers agree with the returns the lender pulls.
- 12-month cash-flow projection
- A monthly projection with the new loan payment built in, plus a debt-service coverage check, the ratio lenders look at first.
- Business debt schedule
- Every existing loan, card and cash advance, with balance, payment, rate and maturity.
- Use-of-funds summary
- How the loan will be spent, tied to the projection.
- Walkthrough
- We take you through your own numbers so you can answer the lender's questions with confidence.
What we need from you
- Business tax returns for the last two years (one year for Microloan)
- Bank, card and loan statements for the same period
- The loan amount and what it will pay for
- Your lender's document checklist, if you have one
If your books are behind
- We bring them current first at $50 per account per month behind (each bank, card, loan or processor account), with a $450 minimum.
- You get the total price and the delivery dates in writing before we start.
How it works
Most applicants are ready to submit in two to three weeks, including the time to gather records.
Free Profit Review (30 minutes)
We look at your books, confirm the right package and quote any catch-up in writing.
Send your records
Tax returns, statements, the loan amount and purpose. The 10-day clock starts when they're complete.
We build the package
Reconciled statements, the book-to-tax reconciliation, the projection and the debt schedule.
Walkthrough
We go through your numbers with you, so you can answer the lender's questions yourself.
After the loan closes
Most lenders want updated statements every quarter or every year.
Monthly bookkeeping from $295/mo keeps the books ready. Financial Management from $495/mo produces the quarterly statements lenders ask for, and our Strategic Fractional CFO tier handles lender reporting for you.
For lenders, CDFIs and SBDC advisors
Send us applicants whose financials aren't ready yet. We send them back with a complete, consistent package and keep their books current after closing. Programs that pay for 10 or more businesses: $1,500 per business at the Standard scope. We reply within one business day.
Questions applicants ask
I already have a CPA. Do I still need this?
Often, yes. Most CPAs file the return once a year; lenders want current statements, a projection with the new payment and a debt schedule. We build those and work with your CPA. If your lender needs CPA-reviewed or audited statements, we prepare the books and your CPA does the review.
Is this the SBA loan application?
No. The application, the owner's personal financial statement and the lender's own forms stay with you and your lender. We prepare the business financials that go with them, so that part of the file is complete and consistent.
Do you guarantee the loan gets approved?
No one can. The lender decides. What we can do is make sure the financials are current, consistent with your tax returns, and show clearly whether the business can carry the payment.
What is SBA Form 159?
It is the SBA's fee disclosure form. When an applicant pays someone to help prepare an SBA loan application, the lender may need it on file. If your lender asks for it, we complete it with you.
How long does it take if my books are behind?
Catch-up comes first, at $50 per account per month behind with a $450 minimum. You get the total price and both delivery dates in writing before we start. The 10 business days for the package start once the books are current and we have your records.
What we don't do: Onavani is not a CPA firm. We don't audit, review or certify financial statements, prepare tax returns, or complete the owner's personal financial statement, and we can't guarantee loan approval. If your lender needs CPA-reviewed or audited statements, we prepare the books and work with your CPA.
Who you'll work with: Patrick Ndungutse, Founder. Former Business Consultant at the Nebraska Business Development Center (Nebraska's SBDC). M.S. in Data Science. Intuit Bookkeeping Certification and QuickBooks Certified User.
Applying for a loan soon?
Start with a free 30-minute Profit Review. We'll check whether your books are ready and tell you which package fits.
Tell us about your loan
Add your loan type and deadline under "Add more detail", or book a time straight away. We reply within one business day.
We reply from office@onavani.com. Prefer email? Reach us directly at office@onavani.com.