Documents a commercial lender asks for before a term sheet
A commercial lender will not price a deal from a phone conversation alone. The file has to show who owns the property, how it performs, and who is signing the note. Kelly Dutton at OneClick Commercial Funding uses this checklist on the first review so Phoenix borrowers know what is missing before a lender sees the package.
She is a commercial mortgage broker, not a bank. She shops the file across lenders. She does not guarantee a rate or an approval.
Property documents
Start with the purchase contract or, on a refinance, the current loan statement and a payoff quote. Add a rent roll, trailing twelve months of income and expenses, and the leases that support the rent. If the building is vacant or in lease-up, say so. Hiding a vacancy is how files stall.
Photos, a simple site plan, and the year built help on older Phoenix buildings. Environmental reports and surveys usually come later, after a lender is engaged. Do not wait on a Phase I to start the conversation.
Borrower documents
Lenders want the entity documents, a schedule of real estate owned, and personal financial statements for anyone with material ownership. Two years of tax returns is a common request on owner-occupied deals. Investment files lean harder on the property numbers, but the sponsor still has to be identifiable.
If the borrowing entity is new, bring the operating agreement and a short explanation of who controls it. Lenders look through single-purpose LLCs to the people behind them.
How the checklist changes by loan type
An SBA loan adds business financials, a use-of-funds statement, and citizenship or residency questions. A multifamily loan lives or dies on the rent roll and trailing expenses. A DSCR review is the next step once those numbers are in hand.
Hotel and construction files need more. See what lenders review on a hotel financing request and how ground-up construction draws are documented.
Two outside references worth reading
The SBA loan programs page lists what government-guaranteed files require. The OCC commercial real estate lending handbook shows how banks think about property cash flow and sponsor strength.
Bring what you have to the commercial loans conversation. A partial file is enough to tell you which lane is realistic.
What this is not
This is not a commitment to lend. Loan terms, amounts, and rates are not guaranteed. Every file still goes through lender approval, credit review, and underwriting.
About the author
Kelly Dutton is a senior commercial mortgage broker at OneClick Commercial Funding in Phoenix. She arranges financing for business owners and real estate investors. She is a broker, not a lender. Read more on the About Kelly Dutton page.
Next step
Call (480) 363-1412 or visit kelly-dutton.com to request a financing call with Kelly Dutton at OneClick Commercial Funding.