Commercial Lending
The Commercial Deal Package: What Lenders Review First
Commercial lenders read a file in a sequence: use of funds, repayment source, collateral position, then documentation. Preparing the first three before you submit saves the most time.
Commercial financing decisions move on three questions: what the money does, how it gets repaid, and what backs it. The paperwork exists to answer those questions, not the other way around.
The review sequence
- Use of funds — a specific, supported purpose
- Repayment source — cash flow, rent, or a defined exit
- Collateral position — property or assets and their value
- Documentation — financials, leases, contracts, guarantees
What the package typically includes
| Use of funds statement | Specific and itemized |
| Repayment analysis | Cash flow or rent roll support |
| Collateral summary | Appraisal, valuation or asset schedule |
| Financials | Last 2–3 years plus interim |
| Debt schedule | Current balances and payments |
| Guarantor profile | Personal financial statement |
Where files stall
Most delays trace to a repayment story that shifts between documents, an unsupported valuation, or a use of funds that is too vague to underwrite. Align those three and the review moves faster.
Bring the evidence for the number you want the lender to use — otherwise the lender will pick a more conservative one.
Frequently asked questions
Does this apply to DSCR loans?
Yes — for DSCR the repayment source is the rent, so the lease and rent evidence carry the review.
How long does commercial underwriting take?
Commonly 3–6 weeks depending on appraisal and entity documents.