Remington Capital – Brad Sweet

Every lender has different requirements and different algorithms they will use to calculate whether the risk of any given transaction is within their tolerance. It is important to get them a good package for the initial application so they can quickly look at your file, understand it, and make a decision.

Here at Remington we have a standard submission form which helps us to pull out all the pedigree information on the transaction such as NOI, loan amount, value of collateral and exit strategy. It also explores other items such as potential ownership possibilities, IRR and cash invested to date.

Along with the submission form most lenders will request an executive summary, a business plan, pro-forma, tax returns (corporate and personal), an appraisal, and any other pertinent documents that should be provided.

Remember to start with the most general information first (submission form, executive summary and business plan) and move forward towards to more detailed information. You want the lender to quickly get an understanding and not have too much information to sift through. Many files may get disregarded with not submitted correctly so be sure to ask the representative you are speaking with about what he wants to see.