Credit Underwriting Insights

Insights in Commercial Lending & Underwriting

In-depth analyses, financial calculation models, and acceptance standards for loan advisors, accountants, and SMEs.

Featured Knowledge Article8 min read

Credit Analysis & Normalization

Why Profitable SMEs Still Get Turned Down by Banks

A positive financial statement is not debt service capacity. Four credit pack flaws that derail SME loan requests, with numerical models for advisors.

MvA

Mark van Asten

September 19, 2026

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Key Insights

Why unadjusted EBITDA fails as a benchmark for debt repayment capacity.
How a healthy annual DSCR can conceal critical seasonal cash deficits.
The value of a clear decision summary on page one of the credit file.

Recent Publications & Articles

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Credit Analysis & Normalization8 min

Why Profitable SMEs Still Get Turned Down by Banks

A positive financial statement is not debt service capacity. Four credit pack flaws that derail SME loan requests, with numerical models for advisors.

MvA

Mark van Asten

Read article

Practical Commercial Lending Guide

Looking for the financial worksheets and models?

Access the 2026 Practical Commercial Lending Guide including worksheets for DSCR, monthly cash flow phasing, and credit memos.

Go to the practical guide