Commercial Loan Application Check List  

In general, the documents you may need include:

• If this is a purchase, a copy of the purchase contract fully executed by all parties.
• For full document loans, last 2 years taxes business and personal, profit and loss, rent rolls, copy of any/all leases, last 3 months bank statements business & personal.
• For stated income loans copy of rent rolls, leases, profit & loss for subject property only.
• We will pull a tri-merge credit report.
• We will take a commercial loan application
• Proof of assets, other properties owned, stocks, bonds, cash, etc. This will make your application much stronger.
• A commercial appraisal of the subject property. In most cases lender's will order appraisal, and borrowers will pay from $1500.00 to $5000.00 depending on property type, size, and difficulty of appraisal. This process can take from 2-4 weeks to complete. If there is a current appraisal, lenders may/may not accept on a case by case basis.
• A land survey is needed.
• An Environmental report may be required depending on the property type- Gas Station, Industrial, or vacant land. Some lenders will require an environmental questionnaire to be filled out, and depending on the answers or the appraisal outcome 
• Executive Lending Center Loan submission form.

 This is a general list of what is needed to submit a commercial loan. Less documentation will be required for no-doc & hard money loans. All loans are unique, and you will receive a complete list of what is required to close your loan. This is intended as a guide to help you gather the proper information and paperwork.