Commercial Loan Checklist

Government-issued ID for all principals Entity documents: Articles of Incorporation/Organization, Operating Agreement EIN (Employer Identification Number) Certificate of Good Standing (from Secretary of State) Ownership structure chart (if multiple owners) 2 years personal tax returns (all principals with 20%+ ownership) 2 years business / entity tax returns

Current Rent Roll (all tenants, lease terms, monthly rents) 2–3 years Operating Statements / P&L for the property Year-to-date income and expense statement DSCR must typically be 1.20x or higher Current tenant leases (copies) Vacancy history and current occupancy rate

Purchase contract or LOI (Letter of Intent) Commercial appraisal (ordered by lender, MAI-certified) Phase I Environmental Site Assessment Phase II ESA (if contamination is suspected) Property survey Site plan and property photos Zoning verification / certificate of occupancy Building inspection / capital expenditure report

Personal financial statement (PFS) for all guarantors Net worth typically 1x the loan amount Liquidity: 6–12 months of debt service in reserves Bank statements — last 3 months (business and personal) Schedule of real estate owned (SREO) List of other loans and liabilities

Down payment: 20–35% typical (varies by property type and lender) Loan term: 5, 7, or 10 years (amortized over 20–30 years) Prepayment: Defeasance or step-down prepayment penalties common Recourse vs. non-recourse terms Title insurance commitment Business plan (for value-add or construction)