What documents are needed for a commercial loan application?

A commercial loan application typically requires: current rent roll (list of tenants, lease terms, and rental amounts), last 2–3 years of property operating statements or tax returns, current year-to-date income and expense statement, purchase contract or property description, borrower's personal and business tax returns (2–3 years), personal financial statement, business entity documents (articles of organization, operating agreement), and a business plan or executive summary. For larger loans, a property management report, environmental phase I report, and engineering inspection may be required. Having documents organized upfront significantly speeds up the underwriting process.