"Documented assumptions": the phrase lenders look for
If there's one habit that separates a fundable plan from a rejected one, it's this: every number is tied to a reason.
An assumption is just the sentence behind a number. "We'll do $9,300 in month one" is a number. "Based on 35 customers a day at an $8.60 average ticket" is the assumption. The assumption is what a lender actually evaluates.
Why it matters so much
A number alone forces the banker to either trust you or reject you. An assumption gives them a third option: check it. And checkable is fundable.
Where to document
- Revenue, units × price × frequency
- Costs, each major line, with a source or benchmark
- Growth, why year two rises the way it does
- Staffing, who, when, at what rate
The test
Read your plan as a skeptic. For every figure, ask: could someone verify this from what's on the page? If not, write the sentence that lets them.
See where your financing file stands
Fifteen questions, four minutes, no documents and no email. You get a readiness stage, the gaps a lender would raise, and the document list for your request.
Check my readiness, freeLenderReady is an educational service, not a lender, broker, or financial advisor. Lending criteria vary by institution and change over time; treat this as a starting point, not a guarantee.