Streamlined Borrowing Process
The Borrowing Process:
The borrowing process for your Commercial Financing Project involves the following steps:
- Complete the "EZ Contact Form" and click the send button. The information you send is completely confidential and not shared at this stage with any lender. (You can also call 215-230-1885 to discuss your commercial transaction at any time.)
- You will be contacted within 24 hours by telephone to discuss your commercial real estate borrowing requirements and have any and all of your specific questions answered.
Please have all of the information described in the Real Estate Checklist ready to discuss with or provide to your commercial mortgage officer. (If possible) Real Estate Checklist
- Once we understand the basics of your deal, we will target and contact the lenders that most closely match your borrowing requirements. The goal of this initial contact is to find a lender willing to issue a Letter of Interest (LOI) to fund your deal.
- If the terms and structure proposed by the lender in the LOI are acceptable to you, it's time to get down to the details. The lender will allocate funds to complete your transaction and issue a "Commitment Letter." You should have your attorney review this document and possibly negotiate any sticking points for you. Frequently a fee is required at this point to cover actual expenses the lender is incurring to issue the letter, secure the funds and complete the due diligence process.
- Provide the documentation required for initial underwriting. Typically the lender will require an appraisal and other due diligence documents. Someone from K2 Commercial Finance, or sometimes the lender, will contact you for any additional information the lender may require to approve your deal.
The most critical step in moving to a fast close and getting the best rate and terms possible is to be prepared to respond to the lender's due diligence requests promptly. Being prepared makes you look like a pro. Everyone prefers to work with professionals.
Please click on the link for the Loan Package Checklist and gather as many of the anticipated documents as possible. Loan Package Checklist
- You sign the loan documents and your loan funds. END OF PROCESS! Save months of shopping lenders and negotiating rates and terms. K2 Commercial Finance will direct your loan to the right funding source for your transaction.
OK, let's get started. Please complete the EZ Contact Form or call us toll-free at 1-215-230-1885 and we'll get right on your transaction!
Efficient * Thorough * Successful * Fast
Call toll-free 1-215-230-1885 to discuss your commercial transaction. We love to takl deals!
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