Items Needed for a Complete Submission
Help us help you and or your client by submitting all the necessary information to reach a decision. Please include the following items as pertinent to the specific loan request:
- An MAI appraisal depicting AS-IS and Future value
- 1003 Application
- Executive Summary detailing the entire scope of the project and financing
- 2 to 3 years Tax returns to include 1040s, 1120s and 1065s.
- 2 to 3 years Financials to include: Operating statements, Statement of Cash Flows and Balance Sheets
- Preliminary title report
- Business plan and exit strategy
- Resume and background of the principal(s)
- Construction budget, construction draw schedule, construction time-line and list of construction materials
- Environmental reports (EIR 1 & EIR II)
- Surveys and soil reports
- Rent rolls (2 years minimum)
- Marketing reports (STR reports and any Industry specific reports)
- Purchase and lease contracts
- Plans and blueprints (pdf format)
- Insurance
- Mortgage notes and deeds
- Zoning permits and approvals
- Articles of Incorporation, bi-laws and Secretary of State Letters of Good Standing