Commercial Documentation Requirements
Below is a list of necessary commercial documentation requirements:
- Loan Request Explanation & Use of Funds Letter
- Executive Summary including projections is required for SBA and business loans
- Signed Credit Authorization Form
- Personal Financial Statement
- Management Resume (mandatory for SBA & Business loans)
- Last 2 Years Personal Tax Returns (3 Years for SBA & Business loans)
- Last 2 Years Corporate Tax Returns (3 Years for SBA & Business loans)
- Year-to-Date Company Profit & Loss Statement with all Balance Sheets
- Business Debt Schedule
- Business History / Background
- Purchase Contract (fully executed)
- Property Description (lot size, bldg size, age etc.)
- Photographs of Subject Property (front, sides, rear and street view)
- Most Recent Rent Roll (incl. move in date, lease type, unit mix, date of last rental increase, and any sec. 8 tenants)
- Last 2 Years and Year-to-Date Operating Statement (incl. any capital improvements)
- All Tenant Leases & Rental Agreements for Subject Property (or most recent estoppels)
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