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Run: Commercial Loan Annual Credit Review

Annual commercial loan credit review template for documenting borrower performance, covenant compliance, collateral support, and relationship risk rating in ...

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Review Scope and Borrower Identification

Borrower legal name and relationship type confirmed

Record the legal borrower name, related entities reviewed, and whether the relationship is operating company, holding company, or guarantor-based.

Review period and due date verified critical (required)

Confirm the annual review date, statement dates used, and whether the review is current within policy requirements.

Loan type and current exposure documented

Document facility type, commitment amount, outstanding balance, and any unused availability.

Prior review exceptions carried forward and resolved critical (required)

Verify whether prior exceptions, waivers, or action items have been closed or remain outstanding.

Yes No N/A

Financial Performance Review

Current financial statements received and reviewed critical (required)

Confirm receipt and review of current-year financial statements, interim statements, and tax returns as required by policy.

Yes No N/A

Revenue, EBITDA, and net income trend assessed

Summarize year-over-year trend analysis and note material changes in profitability or cash flow.

Liquidity and working capital position evaluated

Document current ratio, quick ratio, cash balance, and working capital adequacy relative to obligations.

Debt service capacity remains acceptable critical (required)

Rate the borrower's ability to service debt based on cash flow, leverage, and coverage metrics.

Material adverse changes identified critical (required)

Indicate whether any material adverse change in operations, market conditions, litigation, or management has been identified.

Yes No N/A

Borrower financial statements show going-concern or audit concerns critical (required)

Flag any going-concern language, qualified opinions, scope limitations, or other audit concerns requiring escalation.

Yes No N/A

Covenant Compliance and Exceptions

Financial covenants tested against required thresholds critical (required)

Verify compliance with leverage, debt service coverage, liquidity, tangible net worth, or other financial covenants.

Yes No N/A

Reporting covenants satisfied on time critical (required)

Confirm required borrowing base certificates, financial statements, tax returns, and compliance certificates were delivered on time.

Yes No N/A

Covenant exceptions documented and approved

List any covenant breaches, waivers, amendments, or temporary exceptions and identify approval authority.

Borrowing base or collateral reporting remains accurate critical (required)

Confirm borrowing base calculations, inventory/receivables reporting, and collateral eligibility are accurate and supportable.

Yes No N/A

Covenant testing date and source documents recorded

Document the measurement date, source statements, and any adjustments used in covenant calculations.

Covenant compliance status critical (required)

Overall covenant status for the review period.

Collateral, Guarantor, and Credit Support

Collateral values and lien position reviewed

Document collateral type, latest valuation or appraisal date, and lien priority status.

Insurance coverage remains in force and adequate critical (required)

Verify required property, casualty, liability, flood, or other insurance is current and lender interests are properly evidenced.

Yes No N/A

Guarantor financial support remains sufficient

Assess whether guarantor strength continues to support the exposure.

Collateral perfection and UCC filings verified critical (required)

Confirm lien filings, perfection status, and any required renewals or continuations are current.

Yes No N/A

Appraisal, valuation, or collateral review is current

Confirm the latest appraisal, valuation, or collateral review meets policy timing requirements.

Yes No N/A

Payment History, Credit Updates, and Risk Rating

Payment history reviewed for delinquencies or defaults critical (required)

Review payment performance, past due status, and any default events during the review period.

Yes No N/A

External credit reports and public records reviewed critical (required)

Confirm updated credit bureau, litigation, bankruptcy, lien, judgment, or adverse news checks were completed where required.

Yes No N/A

Relationship risk rating remains appropriate critical (required)

Rate the current relationship risk based on financial performance, collateral, management, industry, and repayment behavior.

Risk rating change justified and approved

If the risk rating changed, document the rationale, approval authority, and effective date.

Conclusion, Actions, and Sign-Off

Overall review conclusion critical (required)

Select the final disposition of the annual credit review.

Corrective actions and due dates documented

List all follow-up items, responsible parties, and target completion dates.

Reviewer signature critical (required)

Signature of the credit officer, analyst, or reviewer completing the annual credit review.

Review completion timestamp critical (required)

Record the date and time the review was completed and submitted.

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