What documentation is required for the loan? Robin@lendingthemoney.com

   

 

What documentation is required for the loan?

Documentation varies depending on the loan amount and whether it is a startup or existing business.

Basic documents required for your application include:

  • Personal and business addresses and contact information
  • Personal and business tax returns and bank statements
  • Business income statement and balance sheet (if in business)
  • Purpose of loan and information about planned use of proceeds
  • Personal and business budgets and debt information
  • Documentation of other forms of income
  • If using a co-signer, their personal information
  • References
  • Pay stubs and proof of all income listed on application
  • Start ups (6 months of operation or less) will need a business plan, financial projections, start up budget, and proof of equity

Additional documents may be required on a case-by-case basis.

 


PLEASE REVIEW THESE EXAMPLES  

It was a pleasure speaking with you both today we Proposed to continue discussing loan options and funding solutions.

Please review loan examples -the Business Plan with strong Math to support the debt service ratio, the repayment COULD also show held reserves from the FUNDED amount to secure the term without P/ I repayment term ( an example 12 months $ 2,520,000. 00 held in reserves base on the 40 mm loan examples below )  Repayment Plan 1st payment 13 month or  annualized. ( an option most used in Construction Loan Programs)

Strong Math supports gaining funding approvals: example

3 years annual reported P & L , Projections to support the terms and conditions Proposed with a debt service ratio of 1.24 or higher. 

Example 40M (Direct Debt) Loan amount: $40,000,000.00

Initial deposit: $1,400,000.00

Loan payments: $62,086,665.64

Total payable: $63,486,665.64

300 monthly payments of: $206,955.55

Total interest: $23,486,665.64

Start date: June 15, 2015

End date: June 15, 2040

Extra fees: TBA

Interest Rate: 4.15%

Effective Annual Rate: 4.23%

APR (?): 4.23%

 

 

Example 50M, (Direct Debt) Loan amount: $50,000,000.00

Initial deposit: $1,700,000.00

240 monthly payments of: $318,758.62

Start date: May 11, 2015

End date: May 11, 2035

Balloon payment at end: NA

Total payable: $78,202,069.29

Total interest: $28,202,069.29

Extra fees: TBD

Interest Rate: 5.00%

Effective Annual Rate: 5.12%

APR (?): 5.12%

 

 

 

Example: 75M (Direct Debt) Loan amount, 25 yr. Amort, 4.10% interest rate, P & I $368,028.07 mthly

Loan amount: $75,000,000.00

Initial deposit: $6,000,000.00

Loan payments: $110,408,419.64

Balloon payment at end: TBD

Total payable: $116,408,419.64

300 monthly payments of: $368,028.07

Total interest: $41,408,419.64

Start date: November 23, 2015

End date: November 23, 2040

Extra fees: TBD

Interest Rate: 4.10%

Effective Annual Rate: 4.18%

APR (?): 4.18%

   

Example:  105M Loan Amount, 3.75% interest rate, 25 year AMORT, $ 523,385.56 Monthly payments + interest

Loan amount: $105,000,000.00

Initial deposit: $3,200,000.00

Loan payments: $157,015,668.36

Total payable: $160,215,668.36

300 monthly payments of: $523,385.56

Total interest: $55,215,668.36

Start date: March 8, 2016

End date: March 8, 2041

Loan Servicing fees: TBD

Interest Rate: 3.75%

Effective Annual Rate: 3.82%

APR (?): 3.82%

 

 

Example:  110M Loan Amount, 25 year AMORT, 3.75% interest rate, $ 548,577.99 Monthly Payments + Interest

Loan amount: $110,000,000.00

Initial deposit: $3,300,000.00

Loan payments: $164,573,396.99

Total payable: $167,873,396.99

300 monthly payments of: $548,577.99

Total interest: $57,873,396.99

Start date: March 17, 2016

End date: March 17, 2041

Loan Servicing Fees: TBD

Interest Rate: 3.75%

Effective Annual Rate: 3.82%

APR (?): 3.82%

 

 

 

 

 

Example: 120M Loan Amount, 25 year AMORT, 3.75% interest rate, $ 598,448.72 monthly payments + interest

Loan amount: $120,000,000.00 

Initial deposit: $3,600,000.00

Loan payments: $179,534,614.90

Total payable: $183,134,614.90

300 monthly payments of: $598,448.72

Total interest: $63,134,614.90

Start date: March 14, 2016

End date: March 14, 2041

Loan Servicing fees: TBD

Interest Rate: 3.75%

Effective Annual Rate: 3.82%

APR (?): 3.82%

 

 

Example:  200M Loan Amount, 3.85% Interest Rate, 20 AMORT, $ 1,154,343.77 Monthly Payments + Interest

Loan amount: $200,000,000.00

Initial deposit: $7,000,000.00

Loan payments: $277,042,505.32

Balloon payment at end: TBD

Total payable: $284,042,505.32

240 monthly payments of: $1,154,343.77

Total interest: $84,042,505.32

Start date: March 23, 2016

End date: March 23, 2036

Loan Servicing Fees: TBD

Interest Rate: 3.85%

Effective Annual Rate: 3.92%

APR (?): 3.92%

 

350m Direct Debt, 4% interest, 25 yr AMORT, repayment P/ I $1,773,531.78 Loan amount: $350,000,000 Initial deposit: $14,000,000.00 Loan payments: $532,059,535.02 Total payable: $546,059,535.02 300 monthly payments of: $1,773,531.78 Total interest: $196,059,535.02 Start date: December 29, 2016 End date: November 29, 2041 Interest Rate: 4% Effective Annual Rate: 4.

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