Commercial Financing Checklist

Property documentation: current rent roll with lease start/end and rent amounts, trailing-12 (T-12) operating statement, year-to-date operating statement, and 2–3 prior years of P&Ls. Include lease abstracts or full copies, current property tax bill, insurance dec pages or a fresh quote, most recent Phase I ESA if you have one, and interior/exterior photos.

Borrower documentation: personal financial statement (PFS) — SBA Form 413 is the standard — for every guarantor with 20%+ ownership. Three years of personal tax returns plus most recent K-1s. Three years of business tax returns for the operating entity and any related entities. Real estate owned (REO) schedule listing every property you own with address, value, debt, and cash flow.

Deal-specific docs: fully executed purchase contract or refinance payoff statement, use-of-proceeds breakdown, source-and-use table, and a business plan or pro forma if the deal is value-add, ground-up, or requires assumption underwriting.

Entity documentation: articles of organization, operating agreement, EIN letter, certificate of good standing, and organizational chart if the borrowing entity is part of a larger structure. SBA loans require additional forms — we send a checklist tailored to the program.

For value-add and bridge deals: capital plan with unit-by-unit or space-by-space budget, contractor bids, timeline, and exit strategy (permanent takeout, sale, or refinance).

Pro tip: create a single organized folder (labeled 1_Property, 2_Borrower, 3_Deal, 4_Entity, 5_Capital-Plan) and share via a secure link. Lenders quote sharper terms on organized files because they trust the sponsor.