Scientific Capital

Construction Checklist

Conventional
CMBS
SBA/USDA
Construction

Hotel Purchase Construction Loan Checklist

Part 1: Guarantors’ Financials
  1. Download the following zip file. It is an excel form with two tabs, one for your real estate under personal ownership, the other all your business partnerships (affiliates)
  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 or Credit Karma
  5. Three years of personal electronic FULL COPY of federal 1040 returns
  6. A copy of drives license
  7. Guarantor’s financial of the other affiliates owned at 20% or more:
    • Three years of federal tax return of the affiliates
    • Affiliate’s interim financial statement (profit and loss and balance sheet)
    • Affiliate’s Last mortgage statement
Part 2: Project Documents
  1. Feasibility Study
  2. Market blue STAR report
  3. Projections for 12 months (monthly) and 2 additional years
  4. Closing statement of the land
  5. Approved franchise agreement
  6. Full cost breakdown of the hard and the soft cost
  7. A copy of the land survey if available
  8. Architectural and MEP (Mechanical, Electrical, and Plumbing) plans if available