Documents to Gather Commercial / Industrial
(In order of importance)

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Remember:  Always request as few documents as possible. Never request something before it is needed.

To prepare a listing agreement you will need:

  1. Old financial statement on each general partner. Do NOT ask the borrower to prepare an updated one. While he is procrastinating, he will be thinking of excuses why he shouldn’t take your loan.

  2. 2005 and 2004 Federal Tax Returns (all pages) on each general partner. If a 2005 tax return is unavailable you will need:
    1. 2005 W 2 statement or P&L statement.
    2. 2003 Fedral Tax Return (all pages).

To obtain a formal proposal you will need:

  1. Schedule of leases (includes address of each unit, the name of the tenant, the net rentable square footage of each unit, and the current rent).

    or Copies of all leases.

  2. 2005 ACTUAL operating expenses.

To obtain a loan commitment you will need:

  1. Copies of all leases.
  2. For partnerships or limited liability companies
    1. Partnership Agreement or Operating Agreement.
    2. Certificate of Limited Partnership
    3. 2005 and 2004 partnership/LLC tax returns (all pages). If 2005 is unavailable then we will need a P&L for 2005 and a copy of the 2003 return.
  3. For corporations
    1. Most recent balance sheet (net worth statement).
    2. Fiscal year to date P&L Statement.
    3. 2005 and 2004 corporate tax returns (all pages).
    4. Articles of Incorporation
    5. Resolution to Borrow


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