Vision Mortgage Company, Ltd.
Loan Application Checklist
Ask your Vision Mortgage Loan Officer which items are required for your business loan.

Personal Tax Returns, including all schedules for prior three years. (Must be signed and dated in ink, including copies of originals.)

Business Tax Returns, including all schedules for prior three years. (Must be signed and dated in ink, including copies of originals.)

Business Financial Statements, for last three years dated as of fiscal year end. (Must be signed and dated in ink, including copies of originals.)

Interim Financial Statement, to include balance sheet and income statement dated within 60 days of this application. (Must be signed and dated in ink, including copies of originals.)

Accounts Receivable and Accounts Payable Aging. (Same date as Interim Financial Statement.)

Complete Business Plan, including three year projections with assumption. (Must be signed and dated in ink, including copies of originals. Projections Worksheet form is available from your Vision Mortgage loan officer.)

Articles of Incorporation and other documentation of legal identity.

Site Description/Location Demographics. (Available from your commercial property manager or real estate agent.)

Copy of Current Lease.

Copy of Proposed Lease (if you are moving to a new leased location), or a letter from landlord outlining proposed terms.

UFOC and Franchise Agreement of Letter of Intent from Franchiser.

Gift Certification, if you are using gifted funds toward this project. Gift Certification form available from your Vision Mortgage loan officer.

Form 4506, to authorize the verification of your tax return.

If you own Affiliated companies, please provide:

  • Description of Affiliates.
  • Percent Ownership in Affiliates.
  • Affiliate Business Tax Returns for prior three years.
  • Affiliate Business Debt Schedule.
  • Interim Financial Statement to include balance sheet and income statement dated within 60 days of this application.

If you are an existing SBA Borrower, please provide:

  • Copy of SBA Authorization and Loan Agreement.

For Business Real Estate Loans, please provide:

  • Purchase Contract/Buy-Sell Agreement and all Addendums and exhibits signed by all parties.
  • Refinancing. Provide a complete copy of the Note(s) and Deed(s) of Trust on the real estate to be refinanced.
  • Appraisal. Provide a copy of the most recent real estate appraisal and/or the most recent tax appraisal.
  • Environmental questionnaire. (Available from your Vision Mortgage loan officer.)

For Business Construction Loans, please provide:

  • Contractor's written estimates or bids.
  • New Construction. Provide a copy of the construction contract and a copy of the plans and specifications for projects in planning stages, and a projected cost analysis.

For Business Equipment Loans, please provide:

  • Purchase Order or Invoice. Provide a copy of the purchase order or invoice for machinery or other equipment to be purchased. If the proposed purchase is in the preliminary planning stage, provide a copy of the quote(s).

For Business Acquisition Loans, please provide:

  • Purchase Contract/Buy-Sell Agreement and Addendums. Provide a copy of the signed contract and all exhibits/addenda. The contract should provide for the allocation of the purchase price.
  • Business Financial Statements. Provide complete copies of Seller's Balance Sheets and Income Statements current within 60 days of the application, and for the last three fiscal years.
  • Business Tax Returns. Provide complete copies of Seller's Tax Returns, for the last three fiscal years.
  • Request for Copy of Transcript of Tax Return (IRS Form 4506). This form is to be signed by the Seller.

For Business Refinance Loans, please provide:

  • Copy of notes of debt to be refinanced.
  • Name, address and phone number of lien holder(s) to be paid off.

For Hotel/Motel Loans, please provide:

  • Breakdown of revenues and expenses on a month-by-month basis for the last 12 months.
  • Occupancy percentage and average daily rate for the subject business property annually for the prior three years, year-to-date and monthly for the past 12 months.
  • Occupancy percentage and average daily rate for the market area. (Smith Travel Report, Chamber of Commerce). Contact your sales representative for more information.
  • Hotel/Motel Projection Worksheet. This form is available for your Vision Mortgage loan officer.
Previous Part Next Part - Loan Request, Section 1 of 11
  
www.visionmortgageco.com

 

Contact Webmaster