Commercial Loans Basic Checklist

Basic Documents To Facilitate A Loan

Dear Borrower,

Please complete the enclosed application first, and return it to our offices for your initial review. Upon our initial review of your loan application, we will then contact you to send the complete package. If there is any other documents REQUIRED we will contact you via email or phone. Please return a copy of this checklist with your full package upon request.

CHECK-OFF ITEMS: Each loan proposal submitted to us must contain the Following:

1. COVER LETTER A project Cover Letter directed to the Commercial loan officer you discussed your proposal with.
2. EXECUTIVE SUMMARY - Please provide an executive summary with a detail financial & business plan.
3. FEE AGREEMENT - Please sign our enclosed Fee Listing Agreement (we will forward if necessary).
4. APPLICATION - We will send it to you later if we accept your request- loan application.
5. CREDIT Sign Credit Authorization & Applicable form and fees for Per. & Bus. (Credit reports $75 per principal).
6. LOAN USE - Explanation or a one page Statement on how the funds will be utilized on this project.
7. RESOLUTION LETTER A Corporate Resolution Letter giving you the authorization to sign for the loan.
8. RESUMES - A. Resumes on all principal owners including property management.
9. RESUMES - B. Resumes on Architects (if new construction only)
10. RESUMES - C. Resumes on Construction Contractor (if new construction only)
11. COMPANY HISTORY - Provide a History on the Corporation (applicable)
12. CURRENT FINANCIAL STATEMENTS ( 2years Personal & Corporate )
13. TAX RETURNS Personal AS SUBMITTED TO THE IRS
14. TAX RETURNS Corporate AS SUBMITTED TO THE IRS
15. APPRAISAL ( We need an MAI appraisal if project is over $250,000)
16. COLOR PHOTOS - or (Artist's rendering color - if new construction only.) (XEROXED Copies are not acceptable.)
17. DETAILED (P&L) Profit & Loss Statement, for three years on your existing properties.
18. PRO FORMA - Detailed 3year Proforma on the current business or property. (prepared by a CPA)
19. COST BREAKDOWN Detailed cost breakdown for the construction, (new construction only).
20. CORPORATE - Copy of your Partnership Agreement and/or Articles of Incorporation.
21. MARKET DATA Comparable Rentals & vacancy data for the area ( produced by MAI or Outside firm).

Thank you,

Project:

Address:

Loan Amount: $

Contact Name:

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