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Personal Financial Statements

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My bank keeps asking me for a personal financial statement and a copy of the business tax returns. I don’t want to give it to them. Do I have to? They are saying that it is required. I am not asking for anymore money, I think it is none of their business to know what I have in personal assets. I am not hiding anything, I just think what I have in my personal accounts at another bank is should have nothing to do with my business loan.

I feel like they are being too invasive, or maybe I am just being too stubborn.
 
Do you have an open business loan with them?

If you do, you probably agreed, by signing the contract, to provide them with periodic financial information.

Why? Because they want to make sure that the basis they made the loan on hasn’t changed - that your business is still viable. If not, they might decide to call the loan early.

If you are doing fine, then you have nothing to worry about.
 
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