Archive for Commercial Loan Process
The Commercial Loan Process
Posted by: | CommentsThe Commercial Loan Process
Donald Hunter™ looks at the commercial loan process from different angles and what’s required for an effective loan request. In this brief article, we focus on how to get your loan approved quickly.
The secrets to funding a commercial loan successfully are simple:
1. Quickly pull together all of the documents your lender needs. “Procrastination” kills more deals more quickly than indecision kills opportunities in your life! Have a sense of urgency when helping your finance professional assemble your funding proposal.
2. Your funding professional uses lenders’ tools and forms to quickly organize your file for loan committee review. We will cover more of this critical information in detail in future articles. In the meantime, your professional will have forms to put together a powerful funding proposal for you.
You see, loans are like road maps: They tell the underwriter where to look in your personal financial statements to evaluate your credit worthiness and ability to pay back your loan. It is very challenging to understand the steps of a road map if items (i.e., requested documents) are missing or the arrangement of the map is scattered and incoherent.
We know that you want financing in place quickly with a minimum of stress (e.g., continuously searching for more and more documents) and we know that you want to get funded as quickly as possible. Our goal here is to help you work with your finance professional by helping you to get ahead of that puzzling borrower question:
“Why are you asking me for more documentation?”
Donald Hunter(TM’s borrowers frequently ask this question when we request information to assemble their most compelling financial background information for underwriters. We hope it helps you to have an insider’s perspective on the commercial loan process. Having the right supporting documentation at the beginning can mean the difference between winning or losing your loan!
Other articles on our blog will help you to get ready for funding like a seasoned Pro. Donald Hunter™’s financial coaching is here to add value to your commercial loan experience and to help your professionals like accountants, attorneys, financial planners, real estate and other financial professionals improve your chances of securing commercial funding. Donald Hunter™’s goal is to make you look good to your loan committee or investors!
Sincerely,
Donald Hunter
President and CEO
Info@DonaldHunterFinancial.com
(866) 323-9123
