Commercial Loan Packaging Tip

Commercial Loan Packaging Tip: Have a polished and prepared presentation for your banker. Most borrowers don’t have all the documents together before introducing their loan to a banker. Most borrowers don’t have their project costs or other details pinned down before visiting with their lender. Some changes are considered “not material” to a lender meaning the changes are not significant enough to impact the deal. These changes do not present red flags; but, “material” changes do.

A comprehensive package that is detailed and thorough will eliminate many questions a lender will initially have. The more you are prepared the clearer you will be able to communicate your loan need to the lender. The clearer the picture, the better these lenders are able to review your loan request and process a good response. Give yourself time to prepare a complete and comprehensive package for the lender. It will save you a lot of questions from the lender, and ensure you get the best loan review.

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