Commercial Financing checklist (For Banks & Credit Unions)

•  Need Borrowing Entity Name (If the entity has not been filed, indicate TBD)
•  Need Owner’s Names and % Ownership.
• Operating Agreement/By-Laws for Borrowing Entity
• Borrowing Entity’s Business Tax Returns for the Most Recent 3 Years- (If Applicable)
• Need Most Recent Year End and YTD Financial Statements (If Applicable)

•  Brief Bio with Background & Experience or Resume
• Most Recent 3 Years Personal Tax Returns for all guarantors with 20% Ownership or more.
• Personal Financial Statement (PFS) for all guarantors. (See Forms)
• Copy of ID’s for all guarantors
• Guarantor’s Business Tax Returns for entities with more than 20% ownership.
• Debt Schedule for entities with more than 20% ownership. (See Forms)
• Copy of Bank/Brokerage Statements for most recent month unless lender indicates they need more.

• Copy of Purchase Contract (If Applicable)
• Most recent 2 years income/expense statements for subject property (Investment RE)
• Proforma Income Statement (With increased rents and modified expenses if applicable)
• Projections (If Requested by Lender)
• Current Rent Roll (For Multi-Tenant Commercial or Multifamily), showing names, unit number, rents, extra charges, concessions, starting date and expiration dates. (See Forms)
• Information on existing debt (Copy of recent statement would be helpful)-(For Refinance)
• Complete Project Cost Breakdown (For Renovation or Construction)
• Copy of Location Survey

• Insurance Agent Contact Information (Name, Company, Phone, Email)
• Title Company Information (Company, Contact Name, Phone, Email)-Need copy of Owner’s Title Policy & Survey if refinancing in order to take advantage of discounts.

 Once this information is ready, we'll send you a secure upload link. We will then share the necessary information with the lender as needed. 

Please call us if you have any questions regarding this list. This list will make the approval and closing process go much smoother. The Underwriter may have additional questions regarding the financials if something isn't clear to them. Please be prepared for questions from the Lender and Underwriting.