Banks want well-prepared borrowers. AI helps you prepare a compelling application.
AI-assisted preparation:
- Executive summary of your business (clear, compelling, concise)
- Use of funds statement (specific and logical)
- Narrative explanation of your financial projections
- Business story and background section
- Responses to common bank questions about your industry and competitive position
Prompt: ‘Help me write the narrative sections of a business loan application for a [business type] requesting [$amount] for [purpose]. We have been operating for [years], with annual revenue of [$amount]. Highlight our strengths: [list]. Address potential concerns: [list].’
Numbers: AI helps with the narrative. Your accountant handles the actual financial statements.