Commercial Lending Documents Needed

If you are applying for a commercial loan, the following is a general list of documents you will need to provide along with your loan application:

General Documents Required

  • Commercial Tenant Leases (Not applicable to multifamily/apartments)
  • Rent Roll (Current & Signed by borrower) *Provident Rent Roll -optional
  • Previous Full year and YTD income and expenses on subject property & Sched E’s (If applicable)
  • Purchase agreement & any Counteroffers, Amendments and/or Addendums
  • Environmental Questionnaire
  • 4506T Request For Transcript of Tax Return
  • Schedule of Real Estate Owned

Additional Items Required:

  • 2 years Federal Tax Returns, including ALL K1’s, 1099’s and matching W2’s
  • Most Recent paystubs (If applicable for borrowers with W2 income)
  • Most recent 2 years partnership tax returns for all entities in which borrowers own 20% interest or more
  • *4506-T
  • Year to Date Profit and Loss for all business and corporation income
  • Most recent 2 months bank statements for ALL bank/brokerage accounts
  • Social Security awards letter – for all borrowers collecting social security
  • Schedule of Real Estate Owned – *if form needed, located here
  • Mortgage Statements for all properties owned as listed on Schedule of Real Estate, including subject (if refinance)
  • Refinance: Proof of no prepay on current loan – copy of note will show
  • Property Insurance & Contact info – NOTE: 1yr Prepaid for Purchases / 6 months required for Refinances -on policy at funding
  • *Environmental Questionnaire
  • Escrow instructions
  • Letters needed from borrowers
    • Management Plan/History – how borrower plans to manage property & has managed/property management company
    • Purpose of Refinance letter – simple letter explaining purpose of refinance & confirm vesting
    • If Purchase – letter explaining source of down payment, list exact accounts/banks & confirm vesting

Required Entity Documentation:

  • Articles of Incorporation (Filed with the Secretary of State
  • Statement of Information
  • Certificate of Good Standing
  • Corporate Resolution to borrower
  • Minutes of the most recent Board of Directors meeting appointing current officers (if Corporate Officers named in the Statement of information have changed)
  • Copy of Title pages, powers pages and all signature pages
  • Copy of all/any amendments
Limited Liability Company
  • Articles of Organization and any amendments
  • Statement of Information
  • Executed Operating Agreement
  • Certificate from Secretary of State
  • Partnership Agreement
  • Recorded Certification of Partnership
  • Recorded LP-1 Statement (For LLP only)

Construction Loan Documents

  • Construction Loan Checklist / List of all financials required
  • 1003 / Loan Application
  • Construction Loan Request Form
  • Patriot Act
  • Credit Consent
  • 4506T Request For Transcript of Tax Return
  • Insurance Authoriization Letter
  • Schedule of Real Estate Owned
  • Environmental Questionnaire
  • Construction Cost Breakdown (Excel Spreadsheet)
  • Description of Materials
  • Contractor Data Sheet
  • Contractor Financial Statement