I need a sample STATEMENT AND USE OF FUNDs. Who has it? Please...?

Question

I badly need a sample of a STATEMENT OF SOURCES AND USE OF FUNDS. It's one of the requirements in my case assignment in finance. Please help me. I would greatly appreciate the efforts of those who can give me a sample and those who could provide me with a web address where I could get a template of a STATEMENT OF S and U OF FUNDS. Thank you in advance. The assignment is due next week. By the way, let's promote world peace.

Answer 1

Here's the answer to your questions, and the first link below show you where I found the answer. The second link provides an example of a Source and Use of Funds Statement, aka Cash Flow Statement
When you apply for a commercial construction loan, one of the first items your commercial construction lender will look for in your package is the Sources and Use of Funds Statement. The Sources and Use of Funds Statement will list on one side where every penny of the construction budget will be used (spent). The other side of the statement will list the source of the funds, be it from the developer's own pocket, from the proceeds of the construction loan, or from any subordinate financing.

The reason this statement is so important is because it shows exactly how much skin the developer has in the game. Is the developer covering the customary 20% of the total project cost, or is he trying to get the construction lender to cover 97% of the cost or is he (illegally) trying to use purchase deposits of future condo buyers as part of his required equity?

As a construction lender I spent half my time on projects trying to ferret out how much dough a developer has in the deal. You would be amazed at how much subterfuge developers and mortgage bankers will go through to hide or disguise the developer's lack of equity dollars.

Therefore bankers and other construction lenders greatly admire the package which displays the Sources and Use of Funds Statement as one of the first documents in the stacking order of the package. The stacking order is merely the order in which documents appear in a loan package.
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