Did Your Commercial Lender Visit You and/or Your Property?

[Kristin Zajac]

Hi all - I am in the process of applying for my first commercial loan for a property that was a bed and breakfast but I will be turning into a short-term rental (Airbnb/VRBO). After reviewing my application information, my loan officer said things look good but wants to visit the property to see the layout of the building and how I will rent it (it divides into a couple of different units). This will be an hour and a half drive each way for her, and when I asked what questions or concerns the viewing is going to address, she said she just wants to see it.

For those of you who have been through this process before, do you have a sense of what she is trying to get at? Is this really an interview of my potential as an Airbnb owner/operator (I don't have prior experience)? I don't mind showing her the building at all, but I feel like there is something I'm missing and would love your input so I can be prepared.

Thank you!