Commercial Loan Process
The pre-approval or qualifying process helps us understand your business so we can provide the best financing options for you.
After the pre-approval or qualifying process, the business will complete and submit a loan application. In the application, financial statements or similar documents dating back at least three years are required.
Review of Application has two phases:
- Review by Commercial Loan Officer.
- Review by Loan Underwriter and Loan Committee.
Once the application is approved, our processor will present the company with a term sheet. After reviewing the term sheet and signing a letter of intent, payment may be required for third-party reports, e.g., appraisal reports.
Upon completion of third-party reports, the complete loan application package is resubmitted to the loan underwriter for final approval. When approved, the business is required to sign finalized loan documents.
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