Business loan requirements for a Georgetown, KY company come down to records that agree with each other: bank statements that match the tax return once non-sales deposits come out, a time in business and revenue figure the owner can count, a quote that sets the amount, and credit a partner may check. This post works one invented heating and air contractor's file through each. Partners set their own requirements.
An invented Georgetown, KY heating and air contractor reconciles a year of deposits with its tax return, counts its months in business and its revenue by quarter, works out a van amount using the quote and its own cash, and lists its existing payments before a funding partner checks credit.
What a Scott County, KY owner's bank statements show that the tax return does not
A tax return reports a finished year; bank statements show the months since, deposit by deposit. A funding partner may read both, and before the call an owner can confirm the two agree, because deposits include money that is not sales.
Plumbing, heating and air-conditioning contractors counted 16 employer establishments in Scott County, KY in 2023, with 174 paid employees, and 4 of the 16 had fewer than five (CBP 2023, NAICS 238220).
Illustration only, invented figures: a Georgetown, KY heating and air contractor's 2025 return shows gross receipts of $612,400. Its last twelve months of statements show $688,950 of deposits, which include a $40,000 transfer from the owner, $21,300 of loan proceeds for an earlier equipment purchase and a $9,750 tax refund in this invented case.
Taking those out leaves $617,900 of invented sales deposits, $5,500 more than the return, a difference that fits a later twelve-month window rather than a gap to explain. Listing the non-sales deposits by date and amount before the call answers the question a partner reading the statements may raise.
Time in business and revenue history, counted from your own records
The request form asks for time in business and annual revenue, and both can be counted from records the owner already holds rather than estimated.
Illustration only, invented figures: the contractor's formation records show it started in March 2021, so in November 2026 it has 68 months in business, five years and eight months.
| Period | Sales deposits |
|---|---|
| First quarter of the twelve months | $139,600 |
| Second quarter | $162,850 |
| Third quarter | $171,300 |
| Fourth quarter | $144,150 |
| Twelve months in total | $617,900 |
Those invented quarters total $617,900, the figure the owner can give as annual revenue, and average $51,491.67 a month in this invented case.
A clear purpose and a quote that sets the amount
A request names what the money buys and how much is needed, and the amount comes from the quote rather than a round number.
Illustration only, invented figures: the contractor adds a service van quoted at $47,900, with $5,200 of shelving and ladder racks, $53,100 in all. Putting $8,100 of its own cash toward it, the contractor asks for $45,000 in this invented case.
On the first call, the owner can give the quote total, the cash going in and the amount asked, and the partner reviewing the request may also want the quote itself. Whether an amount fits a term loan, equipment financing or a line of credit depends on what it buys; the business loans overview compares them bill by bill.
Credit checks: what a funding partner may review
A funding partner may check the business's credit and the owner's personal credit during its own review, and the result can shape any offer. Before that, an owner can pull their own reports and correct errors, since a mistake fixed early is one less question later.
Existing payments belong in the same picture. Illustration only, invented figures: the contractor already pays $1,240 a month on an earlier van loan and $610 on a credit line, $1,850 a month in all. Naming both on the first call lets the partner see the new payment next to the old ones.
More worked cases, from equipment sources to draw schedules, are on the Cloverland Credit blog.
By Cloverland Credit · Updated
