Always useful, regardless of loan type
A handful of documents show up in almost every commercial loan submission, so gathering them first saves time later.
- Personal financial statement (PFS) for each guarantor
- Experience resume / schedule of completed projects
- Entity formation documents (operating agreement, articles)
- Two years of tax returns or business financials, if requested
For land or acquisition
Purchase contract, title preliminary report, and a feasibility narrative describing entitlement status and exit strategy.
For construction
Construction budget, draw schedule, plans and specs, permit status, and a signed general contractor agreement.
For income-producing or stabilized assets
Rent roll, trailing operating statements, a proforma, and insurance declarations.
Keep a living folder
Maintain one shared folder that updates as documents change — a stale budget or an old PFS is one of the most common causes of delay once underwriting begins.