Paperwork Needed
To review your loan, you will need to provide documentation of your financial history. The MOST IMPORTANT item that is connected to the speed of approval and success of the loan process is the receipt of the paperwork needed for the "loan package". Everything regarding the loan revolves around the borrowers loan package. The better the loan package the quicker the loan is processed and approved. There will be a constant flow of documents needed at various areas of the loan process. Below is the "typical" documentation needed to start the process.
Be prepared to send us:
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Need ALL items below
Applicant Personal Information:
- -1040 Personal Tax Returns for three (3) prior years
- -Personal Financial Statement from each borrower (form in the attached application)
- -Signed Credit Authorization form from each borrower and spouse (form in the attached application)
- -Completed Management Resume Form from each borrower (form in the attached application)
- -Copy of Drivers License from each borrower.
Business Information:
- -Business Tax Returns for three (3) prior years
- -Year to Date Interim Financial Statement (profit & loss, and balance sheet) current within recent month end
- -IRS 4506 Form signed and dated by current business owner
- -Articles of Incorporation or Certificate of LLC Formation from entity that will own/owns the real estate
Need ALL APPLICABLE items below
Purchase?
- -Purchase and Sale Agreement signed by both buyer and seller
- -Bank statement from applicants showing cash available for down payment
Refinance?
- -Copy of loan note to be refinanced and recent loan statement showing current balance
- -Current business debt schedule as of balance sheet date from applicant business
Hotel?
- -ADR & Occupancy Report from last three (3) years and Interim financial date
Gas Station?
- -Copy of existing fuel supply agreement
- -Listing of gallons sold in three (3) prior years and year to date
- -Previous Phase 1 & 2 environmental reports (if available)
Own other businesses? (business entities in which you own controlling interest)
- -Business Tax Returns for three (3) prior years
- -Interim Financial Statement (profit & loss, and balance sheet) current within 45 days
- -Current debt schedule as of balance sheet date