The Financial District

Application Process

The application for a commercial loan is a little more involved than providing a 1003 and credit report.

In order for us to provide our clients with a Letter of Interest (LOI) we will need the items from our Submission Checklist. This process can be time consuming so we suggest that clients with loan requests contact us with a brief summary of the loan request.  

Our Submission Checklist highlights the items we will need to screen your loan and issue a LOI. We can get away with requests not having every item on this list but the more items provided the better we can determine the feasibility of your loan.

Most of the loan forms needed for a commercial loan can be found on our Loan Forms Page. We don't necessarily need our forms completed, it's the information on those forms we are looking for.

Submission Process

Once we obtain a submission checklist we will evaluate your loan based upon lending parameters that pertain to the loan request. You can expect a communication from us within 24 hours of receiving the submission checklist. At that time we will probably have some questions for you. When we get the answers to the questions, we should be able to issue a pre approval letter the next day.

If acceptable, the borrower will be required to provide a small deposit, made payable to the bank, in order to forward the loan request for final approval. Good faith deposit is 100% refundable if you do not accept the terms of the commitment letter.

When a commitment Letter is issued from the bank, appraisals and closing documentation is obtained. 

The entire process from start to finish generally takes 30-60 days. Not counting unnecessary delays from the borrower.  

Submission Checklist

Owner User

3 years Federal Tax Returns on the Business

Interim Financials on the Business no older than 60 days

3 years Federal tax Returns on the Borrower(s)

Copy of the Purchase Agreement or notes to be Refinanced.

Borrower's Resume

Business History

Personal Financial Statement.

Credit Authorization

Property description

Application

Investor

Details of Loan Request

Property Summary

Current YTD & prior 2 years operating statement.

Current Rent Roll

Owner's 2 years Federal Taxes

Borrower's Resume

Personal Financial Statement.

Purchase Agreement

Debt Schedule and copy of notes for refinances

Verification of Injection for purchases.

Additional SBA Docs

SBA 912 Form

IRS 4506

Environmental Questionnaire