What is a Pro Forma Financial Statement?

Pro Forma Definition

Pro forma calculations are financial results which highlight current or projected figures. For example, in order to showcase the potential profitability of a multifamily property which has not yet been constructed, investors and developers may send a pro forma income statement to lenders. HUD multifamily construction loans, such as the HUD 221(d)(4) loan, often require pro forma financial statements, while in most cases, HUD 223(a)(7) loans do not.

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