Personal Financial Statement Template - loans

[Carnet Williams]

Greetings,

I am talking to four lenders right now for a commercial loan for a 24 unit apartment building. They all have asked for a personal finance statement (giving me the option to use my own version). Does anyone have a template they can share? Or is there an online resource? I tried googling, but all the samples were either super ugly or had far more information that I need. Appreciate any help.

[Quinn Konitshek]

@Christen G. @Carnet Williams

A personal financial statement is not a brush off! It is a huge part of getting a commercial loan for any deal. They may have been "brushed off" after submitting the PFS and the lender didn't think they could get the deal done based on the situation. However not all lender's are created equal and some are lazy. 

A bank/fannie mae/freddie mac/debt fund wants to know how liquid the sponsor is, what their experience looks like, their liabilities, their assets, and real estate owned. A personal financial statement is the only way to understand this, because running someone's credit wouldn't offer up this kind of crucial information.

There are some lenders who wouldn't require this, however it is an opportunity cost. What you give up is higher interest rates and fees, for less documentation required. 

In short, to get the most aggressive financing a borrower will need to provide a personal financial statement.