Backed by Y CombinatorThree documents and three sheets that build your debt service coverage ratio with every number traced to its source.
Free download · No account needed
What you get
Pack of 6 files: 3 documents, 3 spreadsheets
Financial SummaryThistledown Coffee Roasters LLC. Raw financials, translated into the format a lender reads.
| Line | Amount |
|---|---|
| Revenue, trailing 12 months | $1,240,000 |
| Net income | $48,000 |
| Cash available for debt service | $102,100 |
| Total annual debt service | $70,520 |
| Debt service coverage ratio | 1.45 |
DSCR Calculation| Step | Item | Amount |
|---|---|---|
| 1 | Net income | $48,000 |
| 2 | Add back interest | $18,200 |
| 3 | Add back depreciation | $31,800 |
| 4 | Add back amortization | $4,100 |
| 5 | Cash available for debt service | $102,100 |
| 9 | Total debt service, existing plus proposed | $70,520 |
| 10 | Ratio, line 5 ÷ line 9 | 1.45 |
Every addback traces to a source line, the P&L or the fixed asset schedule, so the ratio is not a single unexplained total.
Checklist| Document | Status |
|---|---|
| Business tax returns, last 3 years | Have |
| Business bank statements, 12 months | Have |
| Existing debt schedule | Have |
| Personal financial statement | Requested |
| Equipment quotes | Have |
A free loan application template is usually a fill-in-the-blank cover letter and a list of documents to attach. It says nothing about the one number a lender's underwriter is going to calculate anyway. It does not show that number's math either, which means the applicant hands over raw tax returns and waits to find out what the underwriter actually builds from them, often weeks after the file was first submitted.
Thistledown Coffee Roasters, invented for this pack, is a wholesale coffee roaster requesting $220,000 for a packaging line, a delivery van, and the installation work both require. The debt service coverage ratio comes from net income plus interest, depreciation and amortization added back, divided by existing debt service plus the new loan's own payment: $102,100 over $70,520, or 1.45. SBA's own guidance frames the underlying test the same simple way, a ratio of 1 or greater demonstrates repayment ability, and most lenders underwrite to a cushion above that floor, commonly cited around 1.25.
Every addback in Thistledown's ratio traces to a named source line, the profit and loss statement or the fixed asset schedule, rather than arriving as one unexplained total. Pair this with the owner pay and distribution pack if owner compensation itself needs its own defensible number first. The business banking and payment setup pack covers the underlying accounts, if a lender's own statement request would not otherwise find them clean.
Who is asking, for what, and why now, written for a reader who has not yet seen the financial detail behind the request.
Every dollar of the request broken out to a dated, named quote, so nothing arrives as a round number with no source.
The debt service coverage ratio explained line by line, and why a lender's own underwriter would build the same figure.
What a lender will ask for, tracked against what is actually in hand, so a stalled request is visible before it becomes a delay.
Raw financials translated into the format a lender reads, revenue through net income, addbacks, and the ratio itself.
The ratio's own math, each line traced to the specific document and figure it came from, not presented as a single total.
Take the blank Word and CSV files with no account, or install the pack in River and hand it your own financials and debt schedule.
Revenue through net income, then the addbacks a lender expects to see separated out, land on the Financial Summary sheet.
Cash available for debt service, divided by existing plus proposed debt service, with each number pointing at its source document.
The Loan Narrative and Use of Funds explain the request; the Repayment Rationale explains why the ratio holds up on review.
Yes. Three documents and three sheets download as Word and CSV files with no signup and no credit card. Edit with AI is the optional path where the agent builds the ratio from your own financials and debt schedule. The rest of the library is at the template index.
Word documents (.docx) for the Loan Narrative, Use of Funds and Repayment Rationale, and CSV (.csv) for the Document Checklist, Financial Summary and Debt Service Coverage Calculation. They open natively in Word, Pages, Google Docs, Excel, Numbers and Sheets.
There is no single universal number; it depends on the lender and the loan program. A ratio at or above 1.0 demonstrates basic repayment ability, but most lenders underwrite to a real cushion above that, commonly cited around 1.25, and specific requirements vary by institution.
Because none of the three represent cash actually leaving the business to make a debt payment. Depreciation and amortization are non-cash, and interest is itself part of what the debt service figure on the other side of the ratio already accounts for.
Not necessarily. Collateral, the strength of the relationship, and other factors also weigh into a lender's decision. It does mean the file is more likely to draw a follow-up question, which this pack cannot resolve, only make less likely by showing the math clearly.
No. It assembles the application package and the ratio it is built on; matching the request to the right lender or program, and any tax treatment of the loan itself, are separate services this pack does not provide.
Written by
Co-founder & CEO, River
Chandler has spent the last six years working in AI, building tools for millions of users and Fortune 100 companies. In 2025, he co-founded River to build a new kind of operating system for AI agents.
Download the blank pack as Word and CSV files, or open it in River and have it build your own ratio from your financials.
Edit with AI