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Commercial Documentation Requirements

 

Below is a list of necessary commercial documentation requirements:

 

INDIVIDUAL APPLICATION

 

- 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)

 

BUSINESSES

 

- 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

 

SUBJECT PROPERTY

 

- 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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