Financial Package

How to Prepare a Financial Package For a Commercial Loan

*Not all Lenders or loan programs are created equal and each program has it’s own specific guidelines. This is a general list of the items you should start to prepare although additional loan information may be requested, depending on the loan program that you select:3 years of federal business tax returns, including all statements (operating statements if the previous year is not yet filed or on extension)Year-to-date business operating statementsCurrent business balance sheet, including current debt schedule3 years of personal tax returns (W-2 if last year is on extension)Personal Financial StatementFor refinance – current loan payoff including any prepay penaltyFor purchase – execut...

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How to Prepare a Financial Package for a Commercial Construction Loan

Keep in mind that each Lender has it’s own specific guidelines and that commercial construction loans take quite a bit of diligence before they are approved. This is only meant to be a general list of the items you should consider preparing in advance of contacting Lenders for an investment construction loan*:Project Executive Summary, including schedule of Sources & UsesStatus of entitlements and permits (regulatory letters, if available)Resumes for Architect, General ContractorAIA bid submission, if availableFeasibility/market studyMarketing planList of all Sponsors (including spouses) with at least 10% ownership in the propertyPersonal financial statement (PFS), including a schedule of ...

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