Three Years of Financial Statements for an SME Seeking Bank Financing

A Namibian-owned logistics and transportation company based in Windhoek, seeking a NAD 3.5 million term loan from a commercial bank to expand its truck fleet.

The company had been generating consistent revenue for six years but had never had formal financial statements prepared. The owner had been managing the business through a bank account and a basic spreadsheet. The bank required three years of financial statements as a condition of the loan application. The company also needed to demonstrate PAYE and VAT compliance to satisfy the bank's credit checklist.

We prepared three years of financial statements from available bank records, fuel receipts, vehicle maintenance records, and client invoices. We established a proper accounting system and formally documented the outstanding VAT and PAYE positions, which were current but had never been reconciled. We also prepared a brief financial commentary for the loan application, translating the numbers into a business narrative the bank's credit team could assess alongside the statements.

Three years of financial statements prepared and submitted to the bank. VAT and PAYE compliance confirmed and documented. Loan approved within the standard credit timeline. The company is now on a monthly bookkeeping retainer with a clean NamRA compliance record.