Get the free Commercial Borrower Set-Up Sheet - The Mortgage Capital Group - mortgagecapgroup

COMMERCIAL BORROWER SETUP SHEET DATE Referred by: Borrower (s)Name: PHONE #: CELL # Borrowing Entity Name Transaction Type: PUR R&T C/0 Loan Amount $ Value/Sale Price $ LTV % CTV % Entity Description:

How to fill out commercial borrower set-up sheet

How to fill out a commercial borrower set-up sheet:

1. Start by gathering all relevant information about the borrower: This includes the borrower's name, contact information, social security number, and any other identifying details. Make sure to verify the accuracy of this information.
2. Provide details about the borrower's business: Include the legal name of the business, the business type (such as sole proprietorship or corporation), the industry in which it operates, and the length of time the business has been in operation.
3. Disclose financial information: Fill out the sheet with details about the borrower's financial standing. This may include annual revenue, profit margins, assets and liabilities, outstanding debts, and cash flow projections. It is important to provide accurate and up-to-date financial statements.
4. Outline the purpose of the loan: Specify why the borrower needs the loan, whether it is for business expansion, working capital, equipment purchase, or any other specific purpose. Include the requested loan amount and the desired repayment terms.
5. Provide collateral information: If the loan requires collateral, describe the assets that will be used as security for the loan. This could include real estate, equipment, or any other tangible asset. Include details about the value of the collateral and any existing liens or encumbrances.
6. Outline the borrower's credit history: Provide details about the borrower's creditworthiness, including their credit score, past and present loans, credit card usage, and any bankruptcy or foreclosure history. This information helps lenders assess the borrower's risk profile.
7. Complete the form with the borrower's signature: Once all the necessary information has been provided, ensure that the borrower signs and dates the form to indicate their agreement and understanding of the information provided. This signature confirms that the borrower has authorized the lender to conduct credit checks and obtain necessary financial information.

Who needs commercial borrower set-up sheet?

Commercial borrower set-up sheets are typically required by lenders, such as banks or financial institutions, when considering loan applications from commercial borrowers. These sheets provide a comprehensive overview of the borrower's financial standing, creditworthiness, and loan requirements. By filling out this sheet, borrowers can effectively communicate their needs and provide the necessary information for a thorough loan evaluation process.

For pdfFiller’s FAQs

What is commercial borrower set-up sheet?

The commercial borrower set-up sheet is a document used to gather information about a business that is seeking a commercial loan.

Who is required to file commercial borrower set-up sheet?

Any business entity or individual applying for a commercial loan is required to file a commercial borrower set-up sheet.

How to fill out commercial borrower set-up sheet?

The commercial borrower set-up sheet can be filled out by providing the requested information about the business or individual, including financial statements, tax returns, and other relevant documentation.

What is the purpose of commercial borrower set-up sheet?

The purpose of the commercial borrower set-up sheet is to assess the creditworthiness and financial stability of the borrower, and to determine the terms of the commercial loan.

What information must be reported on commercial borrower set-up sheet?

Information such as business name, address, contact information, financial statements, tax returns, business structure, and loan amount must be reported on the commercial borrower set-up sheet.

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