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DOCUMENTS REQUIRED FOR COMMERCIAL LOANS
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STANDARD DOCUMENTATION FOR ALMOST ALL PRODUCTS
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---- "FULL DOC" PROGRAMS ----
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Formal application signed (officers who own 20% or more in the corporation )
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Last 6 months of Personal and Business Bank Statements
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Property Information: Pictures, Survey, Environmental Report, Appraisals (if you have a previous report), Title copy.
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Copy of personal documents: DL, SS, Proof of Citizenship, or Permanent Resident.
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Actual Personal and Business Financial Statement and Profit and Loss (Preliminary at last month).
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Property Insurance - Complete Information (Copy of Documents)
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Credit Report Request Authorization
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Last 3 (three) years Personal and Business Tax Returns
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Copy of Actual Mortgage Terms, Payment or VOM Signed
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Company articles of incorporation and bylaws.
Resume of principals.
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Last 3 (three) years Personal and Business Financial Statements (Audited)
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Exit strategy or repayment plan - Detailed
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ADDITIONAL DOCUMENTS FOR SPECIFIC PRODUCTS:
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CONSTRUCTION:
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INCOME PROPERTY (PURCHASE OR REFI):
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BUSINESS or SPECIAL USE PROPERTY (PURCHASE OR REFI):
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Complete construction project: Blue prints, Cost break down and Schedule.
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Real Estate Contract - If it's a PURCHASE.
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Real Estate Contract - If it's a PURCHASE.
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Marketing and Sales Team – Market Analysis Included.
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Property Operating Financial Statements (Last 3 Years)
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Business Information: Background and Actual Operations Details.
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Contractor Information, Bonds and Licenses
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Actual Rent Roll (Signed by Actual Owner)
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Explanation of Use of New Funds (Cash Out)
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LAND (PURCHASE OR REFI):
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Copy of Leases
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Property Operating Financial Statements (Last 3 Years)
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Real Estate Contract - If it's a PURCHASE.
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Explanation of Use of New Funds (Cash Out)
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Appraisal as Income Approach will be required
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NOTE: This is a reference list that can be used to begin to prepare the information package
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that will be submitted with the loan. It is not limited and each case has to be analyzed, and
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specific documentation can be requested.
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STATED LOANS: NO TAXES REQUIRED
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LITE DOC. : LAST YEAR TAXES REQUIRED
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