What documentation is needed to get a commercial mortgage loan?

To apply for a commercial mortgage loan, you will typically need to provide the following documentation:

1. Business plan: A detailed plan that outlines your business goals, revenue projections, and expenses.

2. Financial statements: These include balance sheets, income statements, and cash flow statements. You may also need to provide tax returns and bank statements.

3. Property information: Information about the property you are seeking to purchase or refinance, such as its location, size, and condition.

4. Appraisal: An appraisal report that determines the value of the property and its potential for generating income.

5. Environmental assessment: An environmental assessment report that identifies any potential environmental risks associated with the property.

6. Insurance: Proof of insurance coverage for the property, including property and liability insurance.

7. Legal documents: Legal documents related to the property, such as lease agreements, purchase contracts, and zoning permits.

8. Business credit report: A credit report that shows your business's credit history and financial standing.

9. Personal financial information: You may need to provide personal financial information, such as tax returns, bank statements, and credit reports.

The specific documentation required may vary depending on the lender and the type of commercial mortgage loan you are seeking. It is recommended to contact potential lenders and ask for their specific documentation requirements.

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.