Avatar's Blog

» Create a Loan Request Package

Posted on 5/4/2005
Whether you are a broker or a borrower, if you are seeking a hard money commercial bridge loan, you'll need to develop a loan package to submit to the lender. At Avatar, we ask for the following items in order to make the initial determination on a loan (issue a Letter of Intent and Term Sheet):

  1. Color photos of the property - inside and out
  2. Personal Financial Statement (find it on the forms page of this website)
  3. last year and this year-to-date P&Ls for the property or business that will support the loan
  4. Recent written appraisal if you have one or comps from a commercial realtor is you don't
  5. Executive Summary detailing why you want hard money instead of a conventional bank loan, how you will meet the monthly payments, what your exit strategy is for this loan, and any other pertinent info that Avatar will need to know in order to let you know if Avatar can fund the loan.
Posted in Miscellaneous