Why Your Loan Package Matters
More Than You May Think!
F-A-C-T:
73% Of All Commercial Loan Applications Are
Never Viewed Or Given Any Serious Consideration.
Your loan package serves the function and purpose that a resume serves. It's asking for consideration! does.
Would you give any serious consideration to a job applicant that submitted a resume to you on a paper towel or an applicant that gave you 10 separate documents in no specific order, of course you wouldn't.
The same applies to how your loan is packaged. Your package can open or close door.
Your package is your first impression and should be you best impression.
Un Professional Packages
- No Cover Page
- No Executive Summary
- Improperly Format
- Incomplete Company Information
- No Borrower Resume
- No Former Loan Request-Terms Desired
- Incomplete Property Data
- Incomplete Property Financial Data
- Outdated Operation Statement
- Multiple Files And Formats
- Difficult To Review
- No Project Summary
Professional Package Includes:
- Cover Page Included
- Executive Summary
- Formatted According to CMSA Guidelines
- Detailed Company Profile
- Resume On Borrower
- Official request for financing terms
- Complete Property Data Summary
- Complete Financial property Financials
- Current Income and Expense Statements
- A single file with named after the project
- Single file: fast access to all the data
- Loan Detail report
- Underwriter comments and notes
