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. That being said, here is a general list of the items you should consider preparing in advance of contacting Lenders for a loan quote*:Schedule of Sources & UsesName of current lender and payoff amount (including any prepayment penalty)Property name/addressDate property was built/rehabbedRequested loan terms (i. e. loan amount, interest rate, term, amortization, fixed/variable, etc. )List of all Sponsors (including spouses) with at least 10% ownership in the propertyPersonal financial statement (PFS), including a schedule of real estate owned, prepared for each of the above Sponsors3 years ...

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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...

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