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Real Business Loans, LLC.
Fee Agreement
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Loan Request Application
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Borrower
Information 1003 Complete and fax it to
954-441-3359.
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For Projects:
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For Real Estate Deals:
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Real Estate Contract if a purchase, you
don't need it if it is a refinance.
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Recent Appraisal
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Financials - Business and Personal for the last two years.
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Business and Personal Tax Returns for Two
Years
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Rent Roll
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Income and Expenses on The Property you are
purchasing.
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Color Pictures
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Executive Summary
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Business Plan
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Credit Report
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Resume (Make sure borrower has
experience with that type of project.)
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Incorporation Documents
| Collateral Program |
| Request
for Guarantee Form Bank Confirmation Letter (Email us to get
this form)
Investor Confirmation Letter (Email us to get this form) |
| Intangible or
Tangible Asset Based Loans |
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Precious Stones or Works of Art: If you are using
precious stones as collateral you must have insurance or a quote to get
insurance and then you can use the loan proceeds to pay for the
insurance. You will not receive any loan approvals or commitments until
you have at least the insurance quote.
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Bank Instruments: The terms and requirements will
be on per deal basis so please contact us and we will help you.
This is for people who need a
fast closing. Usually more expensive. Rates can go from 9.99% to 15%. LTV's can
be from 75% and under.
Fax or email us the following:
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Real Estate Contract if a purchase, you
don't need it if it is a refinance.
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Recent Appraisal
What you basically need to do is your
due
diligence click here to find out more.
Email information package from above 2 to 5
to loans@realbusinessloans.com
or fax to 954-441-3359. Always email to follow up to make sure we
got your application.
| Submission Guidelines For
Conventional Loans. |
They can take over 15
days to close but are the cheapest.
Real Business Loans, LLC receives
many loan requests. Please include the documents we have provided in order for
us to give you the best review for your loan request.
The following financial considerations apply to
all loan applications:
- Borrowing entity must be able to service the
debt, verified by tax returns, bank statements (deposits) and/or Personal
Guarantors.
- Owner carry-back, equity seconds, and/or
subordinated liens are acceptable up to 15% 20%.
- Borrower must have some of his/her own
financial investment/risk into the property or project.
To get pre-approved for a loan follow the
following steps and submit the required documents. You can use this
documents checklist to gather
your documents.
As soon as we receive your documents we scan
them and convert them to PDF format and we provide them to our lenders.
You can
save us a lot of time if you have the documents we will request already scanned and converted to PDF
format.
1. Loan Request
2. COLOR PHOTOGRAPHS:
Use 35 mm film or Digital Camera with
10 - 15 color shots. We will not look at a package without color photos of the
property and surrounding area.
- The Property
- Street Scenes
- The Neighborhood
3. MAPS
- Local Map(s)
- Regional Map(s)
4. Financial Details
- Operating history for the subject property. If
no operating history provide proforma.
- Financial statement on the borrowers
- Tax Returns for 2 years, business and
personal.
5.
COMPLETE PROPERTY DETAILS
Some of the
following documents may require legal size paper.
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Construction
Construction cost breakdown.
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Church questionnaire
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HealthCare, ALF, Nursing Homes, Hospital, Dentist
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Industrial,
Mechanical, Body Shop
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Vacant Land Development and
Infrastructure Cost Breakdown
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Mobile
Home Park Services, Mobil Homes Club Park
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Multi
Family 5 or more units, Apartment Complex
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Office
Building, Mixed, Retail, Medical
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Retail Centers, Mixed Use,
Special Use
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Self
Storage, Mini Warehouse, Attached Detached |
5. APPRAISAL- If you have an appraisal
it must have been done by an MAI certified appraiser, or the lender will order
one for you. If you already have one the lender will request a review of
appraisal that you will have to pay for. If you do not have an appraisal yet let
us know and we will request it depending on the lender.
What is the process?
1. Client makes loan request and provides necessary
documents.
2. Real Business Loans gets quotes from different lenders.
3. Client gets a choice of lenders.
4. Lender is selected and a letter of interest is provided
to client with a list of additional documents and a commitment fee is paid to
the lender.
5. Underwriting Approves the deal and you close.
Simple.
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