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Our hotel CMBS loan checklist


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Part 1: Curve-out guarantors' financial information

1) Download the following zip file that includes the required forms:

Press to download CMBS hotel loan forms
Forms in this zip file: Personal financial statement, Business Debt Schedule for the subject hotel and the affiliates, Personal budget analysis form, Management resume, 4506, Historical statistics form


2) Last statements for checking and saving account, stock and IRA/401K account, and the life insurance if there is a cash surrender value

3) Last mortgage statement for all real estate owned

4) Consumer Experian and Equifax credit reports from www.annualcreditreport.com

5) Three years of personal electronic FULL COPY of federal 1040 returns

6) Guarantor's three years and interim financial statements for all affiliates owned






Part 2: Hotel's financial information


7) Three years of hotel's electronic profit and loss and balance sheet

8) Interim profit and loss and balance sheet

9) Monthly trailing12 profit and loss statement

10) Monthly ADR, Occupancy, and Revenue report for the past 3 years and this year

11) Purchase and Sale agreement if it is a purchase

12) Promissory note if it is a refinance

13) Last mortgage statement if it is a refinance

14) A copy of the franchise agreement

15) Last quality inspection report

16) Last Property Improvement Plan (PIP) report if a refinance or the newly issued PIP if this is a purchase

17) Monthly STAR reports as of the prior month and December of the past 2 years

18) Manager's statistics report from the franchise management system as of prior day and as of December 31st of the past two years

19) Historical statistics report form (form download in zip file above)

20) Customer segmentation: percentage of occupancy for the transient, freeway, business, contracts, and others

21) Copy of any business contracts

22) Capital expenditure (Major items and the corresponding costs) for the past two years

23) Hotel specifications: Year built, Rooms (interior/exterior), Number of buildings and floors, square footage of the building and acreage of the land,etc.




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