How to Prepare a Financial Package For a Commercial Loan
Published 09-28-2018
*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:
Owner-Occupied Properties
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 statements
Current business balance sheet, including current debt schedule
3 years of personal tax returns (W-2 if last year is on extension)
Personal Financial Statement
For refinance – current loan payoff including any prepay penalty
For purchase – executed Purchase & Sale Agreement
Interior/Exterior photos of the property, if available
Investment Properties
2 years of historical annual operating statements
Year-to-date operating statement (recourse loan) or trailing 12 month operating statement, broken out by month (non-recourse loans)
Current rent roll with square footage, move-in date, lease term, unit mix (apts/self-storage), options (retail/office/industrial), and extensions (retail/office/industrial)
Lease, including any amendments (single-tenant only)
Tenant sales numbers or financials, if available (single-tenant or anchor-tenant only)
Personal Financial Statement
For refinance – current loan payoff including any prepay penalty
For purchase – executed Purchase & Sale Agreement
Interior/Exterior photos of the property, if available
Not-for-Profit Borrower
NPO mission statement and history
Number of members
Number of giving units/regular donors
3 years of CPA-prepared operating statements and balance sheets
Year-to-date operating statement
Current balance sheet
Leadership resumes, including time with organization
NPO organizational chart, including key decision-makers
Information on parent organization, if branch of regional or national organization
** Please note that this list is for stabilized properties only. For a bridge or construction financial package, please click here.
About the Author
Leanne EicoffLeanne is a JD/MBA and works as a Managing Director for Commercial Loan Direct, specializing in large balance transactions, portfolio loans, and complex financing structures. When not negotiating the best deals for her clients, you can find Leanne in the yoga studio or snowboarding up in the Rockies.