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      Documents Needed For Loan Processing

      1-Commercial Mortgage Real Estate Loan

      Commercial Mortgage Loans – Documentation

      • 3 most recent years tax returns – both personal and business –
      • Extensions for any filings – if applicable –
      • 3 months most recent bank statements – both personal and business –
      • Personal financial statements
      • Year-to-date business operating statements – if applicable –
      • Year end business operating statements if business tax returns are on extension
      • Personal resume – required for investment properties if self managed –
      • Property management resume, or letter of credentials, if property is professionally managed
      • Letter of explanation for any derogatory credit, including: slow pays, charge-offs, liens, judgments, child support, etc.
      • Schedule of real estate holdings – include purchase date, purchase price, and current mortgage amount
      • Subject property rent roll – if not 100% owner occupied – if property is owner occupied and held in a different entity, i.e. LLC, and leased back to the business, then rent roll and copy of the lease must be provided
      • Subject property leases – see above for owner occupied property
      • Subject property income and expense statements, including year end and year-to-date
      • For investment property with single or anchor tenant, include tenant financial statements

      Commercial Mortgage Loan Purchase Documentation

      • Two years and year to date P&Ls
      • Current rent roll
      • Subject property photos / offering memo / sales package
      • Valid purchase contract – including any amendments –
      • Selling agent or individual contact information
      • Verification of escrows
      • If seller is holding a subordinate position, include terms of the note
      • Property insurance information

      Commercial Mortgage Loan Refinance Documentation

      • Two years and year to date P&L
      • Current rent roll
      • Subject property photos
      • Capital improvements summary
      • Payoff information, including: mortgagor or service provider contact information, payoff statement, and payment history
      • Title policy
      • Survey
      • Property insurance information
      • If there is subordinate financing on the property, you must provide a subordination agreement

      2-Hard Money Loans

      Documents Required For Purchase Hard Money Loans:

      • Loan Application
      • Borrowers Authorization
      • Credit Report
      • Govt. Issued ID
      • Proof of Funds
      • Proof Of Insurance
      • Purchase Agreement
      • Escrow Contact Details

      3-Bridge Loan

      • Loan Application Form: This is the initial application form provided by the lender. It includes basic information about the borrower, the property, and the loan request.
      • Property Information:
        • Property details, including address, type (commercial, residential, etc.), and a description of the property.
        • Purchase agreement or sales contract if the loan is for a property purchase.
        • Recent property appraisal or valuation report.
      • Personal and Business Financial Statements:
        • Personal financial statement detailing your assets, liabilities, and net worth.
        • Business financial statements, including balance sheets, income statements, and cash flow statements.
      • Credit Report: The lender will likely pull your credit report to assess your creditworthiness and history of debt repayment.
      • Income Documentation:
        • Pay stubs or income statements if you’re an individual borrower.
        • Profit and loss statements and tax returns for your business.
      • Exit Strategy Plan: Since bridge loans are short-term solutions, lenders often require a clear exit strategy that outlines how you plan to repay the loan, such as through property sale, refinancing, or securing long-term financing.
      • Collateral Information:
        • Details about any additional collateral you might be offering to secure the loan.
        • Documentation related to the value and ownership of the collateral.
      • Legal Documents:
        • Legal identification documents (e.g., driver’s license, passport) for all borrowers and guarantors.
        • Articles of incorporation or organization for business entities.
      • Project Plans (if applicable):
        • If the bridge loan is for property development or renovation, provide project plans, budgets, and timelines.
      • Bank Statements: Recent bank statements for both personal and business accounts to show financial stability and cash flow.
      • Existing Loan Information: Details of any existing loans on the property or other outstanding debts.
      • Personal and Business Tax Returns: Personal and business tax returns for the past few years to demonstrate financial stability and ability to repay the loan.
      • Insurance Information: Proof of property insurance and possibly other types of insurance as required by the lender.

      4-Construction Loans

      • Business Plan: A detailed business plan outlining your project’s goals, scope, timeline, budget, and expected outcomes.
      • Construction Plans and Specifications: Architectural and engineering plans, including blueprints, floor plans, elevations, site plans, and other technical drawings detailing the construction project.
      • Cost Estimates: A comprehensive breakdown of estimated construction costs, including materials, labor, permits, fees, and contingencies.
      • Project Timeline: A clear timeline that outlines the construction phases and milestones, demonstrating how the project will progress over time.
      • Property Information: Information about the property where the construction will take place, including its location, size, zoning status, and any relevant environmental or legal considerations.
      • Contractor Information: Details about the construction company or contractor responsible for carrying out the project, including their qualifications, experience, and references.
      • Financial Statements: Your company’s financial statements, including income statements, balance sheets, and cash flow statements, to showcase your financial stability and ability to repay the loan.
      • Personal and Business Credit History: Your personal and business credit reports to assess your creditworthiness and financial responsibility.
      • Business Entity Documents: If applicable, documents related to your business structure, such as articles of incorporation, partnership agreements, or LLC operating agreements.
      • Collateral Information: Information about any additional collateral you might offer to secure the loan, such as other properties or assets.
      • Ownership and Legal Documentation: Proof of ownership or right to use the property for construction purposes, along with any necessary legal documentation.
      • Permits and Approvals: Documentation of necessary permits, licenses, and approvals from local authorities and regulatory bodies.
      • Market Analysis: An analysis of the local real estate market and how your project fits within it, including demand, competition, and potential returns.
      • Insurance Coverage: Proof of insurance coverage for the construction project, including liability, property, and builder’s risk insurance.
      • Resume and Experience: Your professional resume and the resumes of key team members involved in the project to showcase your experience and expertise.
      • Down Payment/Equity: Proof of your ability to contribute a down payment or equity investment toward the project.

      5-SBA Loans

      • SBA Loan Application: This is the initial application form that provides essential information about your business, its owners, and the loan request.
      • Business Plan: A comprehensive business plan outlining your company’s operations, market analysis, financial projections, and growth strategy.
      • Personal Background and Financial Statements: Personal information for all owners, including resumes, personal financial statements, and personal tax returns.
      • Business Financial Statements: Including balance sheets, profit and loss statements, and cash flow statements for the past few years (if applicable).
      • Income Tax Returns: Business tax returns for the past few years, including all schedules and attachments.
      • Business Debt Schedule: A list of all outstanding debts, loans, and obligations, including details about the terms and payments.
      • Ownership and Affiliations: A list of names and addresses of any subsidiaries and affiliates, along with details about ownership percentages.
      • Business Licenses and Permits: Copies of relevant licenses and permits required for your business operations.
      • Loan Application History: Details of any past loans, including their status and repayment history.
      • Business Lease: A copy of your current lease agreement, if applicable, for the business premises.
      • Use of Loan Proceeds: A description of how you plan to use the loan funds and how it will benefit your business.
      • Collateral: Information about the collateral you’re offering to secure the loan, along with its appraised value.
      • Management Resumes: Resumes of key management personnel, highlighting their relevant experience.
      • Business Overview and History: A brief description of your business, its history, and the industry it operates in.
      • Projected Financial Statements: Future financial projections that showcase how you intend to use the loan to grow your business.
      • Environmental Impact Statement: Depending on the type of business and location, an environmental impact statement might be required.
      • Legal Documents: Any legal documents related to the business, such as articles of incorporation, contracts, and agreements.
      • Franchise Agreements (if applicable): If your business is a franchise, provide copies of your franchise agreements.

      6-Business Loans

      • Business Plan: A detailed outline of your business, including its mission, goals, products or services, target market, competition analysis, marketing strategy, and financial projections.
      • Financial Statements: This includes your business’s balance sheet, income statement, and cash flow statement. These documents provide an overview of your company’s financial health and performance.
      • Personal and Business Tax Returns: Typically for the last two to three years. This gives the lender insight into your personal and business income and tax obligations.
      • Bank Statements: Recent statements for both personal and business accounts, which help demonstrate your cash flow and financial stability.
      • Business Licenses and Permits: Proof that your business is operating legally and in compliance with local regulations.
      • Ownership and Legal Structure Documentation: This includes articles of incorporation, partnership agreements, and any other legal documents that define your business’s structure and ownership.
      • Collateral Information: If the loan requires collateral, you’ll need documentation related to the assets you’re offering as security.
      • Resume or Background Information: A summary of your experience and qualifications, highlighting your expertise in the industry.
      • Personal Identification: A valid driver’s license, passport, or other government-issued ID to verify your identity.
      • Credit History: Your personal and business credit reports to assess your creditworthiness.
      • Business Debt Schedule: A list of your existing business debts, including loans and lines of credit.
      • Accounts Receivable and Payable: Details of money owed to your business (accounts receivable) and money your business owes (accounts payable).
      • Legal Contracts: Any contracts or agreements that are essential to your business operations, such as client contracts, supplier agreements, and lease agreements.
      • Projections and Forecasts: This may include sales projections, expense forecasts, and growth plans to help lenders assess your ability to repay the loan.
      • Personal Financial Statements: Especially important for small businesses, these show the personal financial situation of the business owners.
      • Use of Funds: An explanation of how you intend to use the loan funds and how it will benefit your business.

      Business Bank Statement Loan:

      • Loan Application
      • 6 Months Business Bank Statements
      • Govt. Issued ID
      • Entity Documentation