Information Required from Potential Borrowers

For Owner-Occupied Buildings

1. Current balance sheet and current year-to-date profit and loss statement for the business.
   
   
2. Last three years’ profit and loss statements, preferably audited.
   
   
3. Complete income and expense statement for the property including:
   
   • annual property taxes
   • insurance
   • water/sewer
   • fuel
   • electricity
   • maintenance/repairs
   • management
   
   
4. Summary of all leases (if any) showing escalations and expirations.
   
   
5. Complete, detailed physical description including square footage.
   
   
6. If a re-finance, the price originally paid for the property, date of purchase and summary of current financing.
   
   
7. If acquisition, a copy of a fully executed contract of sale.
   
   
8. Photos, if available.
   
   
9. Site plan or property survey.
   
   
10. Detailed appraisal report from an approved appraiser.
    
    
11. Current environmental report(s).
    
    
12. Summary of current financing (refinance only) including:
    
    • current lender
    • current principal balance
    • current interest rate
    • current monthly payment
    • due date
    • prepayment penalty information
    
    
    
13. Full description and history of the business.
    
    
14. Biography(ies)/resume(s) of principal(s).
    
    
15. Last two years’ business tax returns.
    
    
16. Last two years’ personal tax returns for all principals of business.
    
    
17. Copy of the deed.
    
    
18. Permission to run credit report(s).