Before you apply for a commercial loan with Apex, you will need the following items and criteria covered. This is just a basic checklist of item most commercial lenders require before they can move forward and even look into your loan request.

A  letter from the borrower to Apex Associates summarizing the loan request, including all of the following information:

Collateral property type and address;

• Property description (land size, improvement size, unit total and mix, parking, amenities, age, physical condition, and recent capital improvements);

• Current estimated value or purchase price;

• Financial activity (gross annual income, expenses paid by the owner, current occupancy rate;

• Current liens (original loan amount, current balance, interest rate, scheduled payment amount, due date, and beneficiary);

Loan amount requested;

Use of loan proceeds;

Borrower net worth including liquidity, gross annual income, and sources of income.

For sole proprietors only, a FNMA Form 1003 completed, signed and dated.

Area, location and plat maps.

Color photographs of the collateral property.

A full appraisal of the property, if available.

A Preliminary Title Report, if available, or a Property Profile.

Purchase escrow instructions if the property is being purchased or has been purchased within the past five years.

Copies of all liens secured by the property.

Annual budget with 100 percent occupancy.

Current rent roll and a lease summary.

All leases and/or rental agreements.

A documented history of all capital improvements executed within the past two years.

A line-item budget with contractor estimates for any capital improvements currently needed.

A Borrower Financial Statement, current within ninety days, signed and dated, including a balance sheet, income/expense statement, schedule of liabilities, and schedule of real estate owned.

Personal Financial Statements for all entities owning 20 percent or more of the collateral property, current within ninety days, signed and dated, including a balance sheet, income/expense statement, schedule of liabilities, and a schedule of real estate owned.

Personal Federal Tax Returns for the three most recent years, signed and dated, for all entities owning 20 percent or more of the collateral property, including all schedules, 1009′s, W-2′s and K-I’s.

A credit report on the borrower and all entities owning 20 percent or more of the collateral property, current within 30 days.

If the property is owned by a corporation, a corporate resolution to borrow signed and dated by the secretary, accompanied by evidence of current corporate status.

Execution of a Nondisclosure/Non Circumvention Agreement and Fee Agreement.

Like said above, this is just the very basics for consideration, but it’s worth following throughwith your due diligence on this criteria, because Apex is know to be pretty darn good at coming across for business owners and commerical investors, as long as you have done your research thoroughly and honestly. The most important thing is that you are running a viable business and you have no delusions or fantasy trips running around in your head regarding the realistic viability of your business venture.