WE CONSIDER ALL TYPES OF COMMERCIAL PROPERTIES
What we need to quote you a rate
Triangle Lending Group® does whatever it takes to help you get the financing you need. Not the least of which is making the whole process simple. Following these four easy steps enables a closing in 30-45 days (in most cases). The faster you turn in the documentation we need, the faster we can help close you loan.
Step One – Gathering information
The property must be able to service the debt; obtaining the following information will determine whether the property supports the loan. So it’s critical you obtain all the information at the outset of the process. To do so, simply fax or email us the following:
- Current rent roll (if applicable)
- Recent 2 years tax returns for you and your business
- Year to date operating statement
- Personal Financial Statement
- Signed credit authorization
- Asset Verification
Step Two – Letter of interest
We will prepare and review the letter of interest with you, this document contains the terms of the loan, once accepted your file will be sent to underwriting.
At this point a deposit will be required for the appraisal and title fees, the amount depends on the size of the loan and the type of property.
Step Three – Underwriting
Once all of the information is received, the file will be sent to Underwriting. Files are generally underwritten on a “first in, first out” basis. To ensure the fastest turnaround, we encourage you to submit all required materials as soon as possible.
At this time, we’ll work on ordering the appraisal and supplying you a “Needs List” of outstanding items.
Step Four – Closing
After the appraisal and title work has been reviewed and approved by underwriting we schedule the closing, the terms will be the same as discussed in the original letter of interest, any issues will be fully disclosed by your commercial loan specialist.
The entire process generally take 30-45 days.
Thank you for your interest and consideration please call or e-mail us with any further questions.