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Updated about 2 years ago on . Most recent reply

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47
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Ali Nurmohamed
  • Investor
5
Votes |
47
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Where do lenders pay attention to?

Ali Nurmohamed
  • Investor
Posted

How do I get my business plan approved by the bank for a commercial property?

What are some of the crucial things where lenders pay attention to?

Most Popular Reply

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1,756
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Doug Smith
  • Lender
  • Tampa, FL
1,504
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Doug Smith
  • Lender
  • Tampa, FL
Replied

Hey @Ali Nurmohamed, I'm happy to provide you with more advice, but I would need to know a lot more about your project...and you. I've been a lender for more than 30 years with both banks and now a private company. I will tell you that business plans for commercial property aren't as important as the experience of the guarantor, their credit score, down payment, global cash flow, etc. They are going to look at your Schedule of Business Debt and Schedule of Real Estate Owned, you past 3 months of bank statements, your last 2 years of tax returns (personal and all businesses you own), and other things based on your project. I'm happy to give you more detail if you can help me understand you and your project. Thanks, Doug 

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