At a Glance
A year-end loan statement is a document highlighting loan repayments for a year. The statement will typically feature the loan interest amounts, principal repayments, interest, and penalties for late repayments to name a few.
A year-end statement will also contain how much taxes have been paid by the borrower and the outstanding (remaining) loan balance.
Sample Year End Loan Statement
Why Year End Loan Statements matter to your business
You work hard for your money and you deserve to know how it is spent. A year-end loan statement shows you how much you've repaid your loan for a year.
On the statement, you will also find useful pieces of information such as applicable loan interest, outstanding loan amount, and the estimated remaining loan term. All these useful insights help you to plan your business finances including scheduling loan repayments, your next refinancing, and more.
From year-end loan statements, business owners can also analyze bank charges for any suspicious deductions other than the agreed repayments.
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