Andrew Jubelt: Owner-Occupied Loan Submission Checklist
Andy Jubelt
is an experienced developer, owner and operator of commercial real estate
including more than 10,000 multifamily and senior housing units. As a Principal at Avant Capital Partners, Mr.
Jubelt specializes in creative and innovative strategies to provide value-added
services and enhance long-term value for numerous complex transactions. Such
transactions include:
AVANT Small Business & Owner Occupied Program
(SBA-504)
Avant Capital Partners offers
mortgages for stabilized owner occupied real estate from $500,000 to
$10,000,000 nationwide. This program offers competitive fixed rates for
business oriented real estate and high leverage.
What is a SBA 504
Loan?
The US Small Business Administration 504 Loan or Certified
Development Company program is designed to provide financing for the purchase
of fixed assets, which usually means real estate, buildings and machinery, at
below market rates.
Property types under consideration include retail,
industrial, office, medical office, dental office, commercial condominium,
hotels, self storage, marina, health clubs, funeral homes, movie theaters,
grocery stores, convenience stores, gas stations, truck stops, restaurants,
banquet halls, auto dealerships, lube & oil change centers, tire care
centers auto repair facilities and other special use business oriented real
estate.
The following is a
standard checklist of items that will be required for underwriting and loan
committee:
- Transaction Information
Brief Description
of Loan Request
- Loan amount desired?
- Purchase or refinance?
- Purchase Price (if applicable)
- Copies of existing mortgage(s) (if applicable)
- Desired loan term?
- Desired interest rate?
- Other critical information timing/deadlines, property or borrower issues, background, etc.).
- Property Information
- Property Address
- Property Type Description (square footage, occupancy, year built, number of units, etc.)
- Property History
- Original purchase price and date acquired
- Total spent on capital improvements since acquisition
- Color photos (exterior and interior)
- Copy of all leases
- Current rent roll
- If property is owned by a real estate holding company:
- Most recent years tax returns for real estate holding company
- Previous two years’ tax returns for real estate holding company
- Most recent Year-End Financial Statement (balance sheet and P&L statement)
- Previous two years’ Year-End Financial Statements (balance sheet and P&L statement)
- Interim financials (balance sheet and P&L statement)
- Debt Schedule
- Copies of existing third-party reports
- Business Information
- Business name and description
- Most recent years’ tax returns for business and all affiliates
- Previous two years’ tax returns for business and all affiliates
- Most recent Year-End Financial Statements (balance sheet and P&L statement)
- Previous two years’ Year-End Financial Statements (balance sheet and P&L statement)
- Interim financials (balance sheet and P&L statement)
- Debt Schedule
- Principal/Guarantor Information (anyone who owns 20% or more of the Business)
- Personal Financial Statement
- Schedule of Real Estate Owned
- Resume
- Signed credit authorization
- Most recent years’ personal tax returns
- Previous two years’ personal tax returns
Please contact Andy
Jubelt at (212) 23109779 or email Avant
Capital Partners at info@avcapital.net to learn more about AVANT Capital’s
Premier Conventional and SBA 504 Lending Programs are focused on owner- occupied
and investor real estate loans.
About the Author
0 comments