Here is the list of documents needed from borrowers:

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PROPERTY

1. Lease agreements/ RENT ROLL
2. Photos of the property (Interior / Exterior).
3. LLC Documents (Articles, EIN, signed Operating Statement).
4- Appraisal if available
5- Purchase agreement (if applicable.)
6- Financial Statements – Detail the income/expenses of the project, and how the loan will be maintained and paid off. Current projects need to provide a previous 2-year financial history. New or acquisition/development/construction (or ADC) loans require reserves, and we need to have at least a 5-year pro-forma on the project.
7- Sources/Uses of Funds – Provide a detailed breakdown of the project costs and expenses, where the funds are coming from, and who is in control of the funds. For legal, compliance and practical reasons – WE MUST ACCOUNT FOR EVERY DOLLAR IN A TRANSACTION, AND VERIFY WHERE THOSE FUNDS ARE COMING FROM. This is an international AML/BSA compliance requirement.

BORROWER

1- Signed Application FNMA 1003
2-Photo ID
3- Credit report if available
4. Sponsor Resumes and Bios – We must know who each of the principals are, their backgrounds, and their connection to the project. There should only be one LEAD principal, but we must review/qualify every project principal.
5- PERSONAL FINANCIAL STATEMENTS
6- REAL ESTATE OWNED SCHEDULE
7-THREE YEARS PERSONAL AND BUSINESS TAX RETURNS
8-THREE MONTHS PERSONAL & BUSINESS BANK STATEMENTS: ALL PAGES
9- SIGNED BORROWER’S AUTHORIZATION [ATTACHED]
10-W9
11- OPERATING AGREEMENT BY LAWS
12- ARTICLES OF ORGANIZATION
13- COPY OF FIRE INSURANCE POLICY
14- Exit Strategy – Detail the plan for loan payoff and exit strategy for the project financing.
15- Supporting Documentation – any supporting documentation that you believe would be helpful during our review of your request. This will vary based upon the type and scope of the project.

BORROWER

Mini Application

(Nature, value and location)

I/ We accept rate up to: %