Business financial statements (BFS) are documents that outline an company's financial strength at a given point in time. Underwriters request business financial statements on a case-by-case basis.

If an underwriter requests business financials, they typically expect the following documents, at minimum. 

  1. balance sheet
  2. income statement/profit & loss statement

If you have audited or CPA-prepared/reviewed business financials available, you should always provide those to clearly affirm your company's financial stability. 

Depending on the time of the year your new application or account is being underwritten, you might need to provide documentation for:

  • the prior business year
  • the current, interim business year
  • or both!

If you're setting up a brand new venture and do not have any business financials to provide, your underwriter might request that you (and any other legal owners of the company) provide personal financial statements for review. 

If you need help providing business financials for underwriting, call 1 (800) 308-4358 or email, and one of our friendly representatives will be happy to help. If needed, we can even provide a blank business financial statement form for you to fill out.