We provide commercial construction financing ranging from lease improvements for a franchise to apartments, residential development, retail, gas stations, convenience stores, hotels to assisted living.
Commercial Construction Financing Checklist
To look at a deal, the bare minimum documentation required from the list below are items one through 10
- Executive Summary of the Development
- Construction Budget including hard and soft costs.
- Background / Bio on Each Partner emphasizing development / construction / renovation / real estate experience and past projects that have been completed successfully.
- Background / Bio / Recent Similar Projects completed which includes the total project cost for each architect, contractor and construction manager (if applicable).
- A Personal Financial Statement For Each Partner with an interest of 20% or more.
- Copy of Credit Report with Credit Scores
- Documentation from realtor or appraisal showing the value of the property once built – ARV
- Last Two Years’ 1040 Tax Returns for each partner with an interest of 20% or more in the project.
- Pre-Sales or Leases, if have
- Proposed Sales Prices and Marketing Plans for completed units (only if condominiums).
- Comparable Sales Information for both the residential apartments, and any commercial space (only if condominiums).
- Rental Analysis Of The Property (based on the estimated rental value of the completed units, including any commercial space).
- Copy Of Fully Executed Purchase Contract
- Copy Of Approved Building Plans
- Copy Of Zoning Analysis
- Copy of Deed
- Evidence that the Partners Control any Development Rights Necessary to Execute The Plans
- TIMELINE showing key points from beginning to completion of project.
- Copy of the Contract between the developer and the general contractor.
- LLC Agreement or Articles of Incorporating of Entity, If Any
Please call Karen Schimpf at 512-650-8630 to find out how to submit the list of items above via our secure portal. We value you documentation and do not want your information floating around on the internet via email.