4 Keys for Getting Your Commercial Real Estate Loan Approved!

Have a well prepared, financial package ready for review. The package should include, 3 years of business and personal income tax returns, a personal financial statement reflecting your assets and liabilities dated within the past 30 days, a 2019 interim profit and loss and balance sheet, a rent roll when applicable, and a debt schedule showing all of your monthly obligations.
A conservative idea on what your property is worth.
For bank or credit union or top tier lender approval, credit should be 680 to 700 or above. For mid tier rates, 6%-8%, credit of 640 to 650 and for bridge or hard money rates, 600 will work often.
Sufficient cash flow from the property to cover the monthly payment with 20-25% to spare.