Commercial Loan Process

  • Step 1: Pre-Approval

    The pre-approval or qualifying process helps us understand your business so we can provide the best financing options for you.

  • Step 2: Application

    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.

  • Step 3: Review

    Review of Application has two phases:

    1. Review by Commercial Loan Officer.
    2. Review by Loan Underwriter and Loan Committee.
  • Step 4: Term Sheet

    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.

  • Step 5: Loan package and closing documents

    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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