Commercial Real Estate Loan Checklist

                                                 Checklist for Banks/Credit Unions

Borrower's Information   

•    Actual name in which the property is/will be titled (Name of LLC, etc.)
•    Most recent 3 years tax returns for borrowing entity(including K-1s) (If applicable)
•    Year to date income statement (profit & loss) and balance sheet (If applicable)
•    Operating Agreement/By-Laws for Borrowing Entity
•    For Construction: List of development team (Architect, engineer, legal, general

                      contractor, appraiser, environmental, etc.)

Guarantor's Information (For Individual Guarantors)

•   Background (Simple Bio), Experience, and Resume for owners/guarantors
•   Most recent 3 years personal tax returns for all owners with 20% or more ownership
•   Current signed personal financial statement (PFS) for all guarantors 
•   Most recent copies of bank statements/brokerage statements (Verify Liquidity)
•   Copy of ID's for all individual guarantors

Guarantor's Information (For Entity Guarantors)

• Most recent 3 years business tax returns (Including K-1s)
• Operating Agreement/By-Laws for each entity guarantor

Project/Subject Property Financial Information

• Copy of Purchase Contract (If applicable)
• Most recent 2 years year end income/expense statements (If applicable)
• Year to date income/expense statement (If applicable)
• Proforma income statement for current year (If applicable)
• Current rent roll showing names, unit number, rents, extra charges, concessions, starting & expiration dates (If applicable)
• Information on existing debt (Copy of recent statement)(If applicable)
• Complete projects cost breakdown (If applicable)

Project/Property Information (Send only what is applicable to the request)

• Copy of existing or proposed leases and letters of intent
• Survey with legal description
• Description of improvements and amenities
• Copy of recent appraisal (If available)
• Copy of environmental report (If available)
• Site plans, floor plans, photographs, vicinity maps, feasibility studies
• Current permitting status with copies

For Agency Financing (Multifamily-Items requested for initial rate quote)

• Trailing 12 month Profit & Loss
• Most recent 2 years Year End Income/Expense Statements
• Current Rent Roll 
• Background on Sponsors

For Investor Residential (Short Term & Long Term Rentals (1-8 Units)

• Loan Application -Includes Schedule of RE Owned (Will be provided)
• Credit Report Authorization (Will be provided)
• Last 2 months Bank Statements (Verify Source of Funds/Liquidity)
• Entity Documents (IRS Letter with Tax ID #, Articles of Incorporation/Bylaws, Certificate of Good Standing, Operating Agreement/Partnership Agreement & Certificate of Formation.
• Condo Questionnaire (If Applicable)
• Leases or Short Term Rental Operating Statements (If Applicable)
• Purchase Contract (If applicable) or Recent Renovation Documentation (If applicable)