CaribbeanMortgageLoans.com

PROJECT SUMMARY LOAN SUBMISSION FORM

Please complete this form carefully, thoroughly and accurately and submit with the required documents.  

Project Name:       

Project Physical Address:   City:   

State:   Zip Code/Postal Code:    

Country:     

Check off all that apply:

  Refinance       Cash-out       Acquisition       Construction

  Second           Mezzanine

  Bridge                Debt & Equity    

  Equity or JV?     Maximum percentage offered/requested  %

  Closing costs to be rolled into the loan?  

Project Information and Loan Request

Project Description:  Please provide a summary outline description of this project along with any special issues, problems or needs.

    

Gross Loan Request: $       Minimum Net Loan Required:  $  

Terms Requested: (List duration, interest rate, etc.):    

Current “as-is” Property Value: $  Seller-Subordinated Loan / Carry back: $      

1.      Date purchased:        (if not purchased yet – enter N/A to 1-3)

2.      Amount Paid For Property:  $            

3.      Cost of Improvements: $  (actual cost of funds used for improvements)

Existing, First Mortgage Balance:  $              Maturity Date:         

Existing 2^nd Mortgage Balance:  $        Maturity Date:      

Total delinquent taxes on the property:  $         

Please provide details here:       

Contract Purchase Price: $    Down Payment Placed on Contract: $     

Property Value After Entitled / Approved:  $      

Existing Property Currently Generating Income:

Annual Gross Income:  $     Annual Expenses:  $            

Net Operating Income:  $     

Use of Proceeds:  (Refers to how the funds are going to be used.  Please be specific to some degree to give our investor an idea of how the funds will be spent).

Direct Communication with Principal is Required:

Principal's Name:       Principal’s Phone Number: 

Principal's Cell Phone Number:  Principal's Email: 

Please Provide Loan Payoff / Exist Strategy Here (In Detail):   

Are the borrowers prepared and willing to pay the typical, reasonable commercial loan fee that may include application fees, commitment fees, legal document preparation, underwriting and due diligence fees?  -Select Choice- Yes No      

How Long Has This Loan Package Been on the Market and Shopped?  # months.

How Much is it Being Shopped Now? (Explain):      

If This Package Has Been Turned Down Previously, What Are the Reasons?  Explain in Detail Here: 

Will the Principles Pledge Full Recourse to the Loan?  -Select Choice- Yes No Negotiable

Is a Pre-Payment Penalty Acceptable?:  -Select Choice- Yes No Negotiable      Desired PPP Term: 

Is There a Specific Time Frame for Funding or Rush?:  -Select Choice- Yes No      If "yes,"  Explain in Detail Here:      

Is There Cross-Collateralization Available?:  -Select Choice- Yes No Negotiable   If “Yes” What Amount and the Source?:       

Describe the Company’s Current Credit Situation:       

Describe the Principal's) Current Credit Situation:       

NOTE:  All Items Marked Off Above “X” Must Accompany This Form

DETAILED CONTACT INFO

 INFORMATION ABOUT THE PROPOSED BORROWER

Please State Fully Why the Borrower is Seeking Financing Other Than Conventional Bank Financing: 

ADDITIONAL LOAN INFORMATION

DETAILED PROPERTY DESCRIPTION

ADDITIONAL COLLATERAL AVAILABLE

                COMMENTS (Also, Use This Space For Additional Collateral If Needed):  

PROPOSED Construction to Perm Loan Worksheet

Date:      

Project Name:      

Project Location:      

Borrower Name:      

Loan Details:

    Refinance: $   

    Construction: $      

    Purchase: $     

    Construction: $      Loan To Cost (LTC): %

    Development: $     

    Furniture Fixtures and Equipment (FF&E): $     

    Interest Reserve Needed: $        

Interest Reserve Term #Months

Net Loan Amount: $     

Other: $     

Other: $     

Gross Loan Amount: $     

Completed Value of Project: $  

Completed Loan To Value (LTV): %

Annual Gross Income (From ProForma): $     

Annual Expenses (From ProForma): $     

Current Assets: $    

Annual Net Operating Income (From ProForma): $     

Debt Service Coverage Ratio (DSCR) (From ProForma): %      

Due Diligence Document Checklist

PROJECT NAME:      

  (Please “X” All That Is Available Upon Request)

Note: Not All Items Are Applicable To Every Project

For items not currently available – please indicate expected due date for each missing document.

DEVELOPER/PROJECT SPONSOR FINANCIAL INFORMATION:

    COMPLETED DCG “COMMERCIAL REAL ESTATE ACQUISITION, DEVELOPMENT AND/OR CONSTRUCTION LOAN APPLICATION – - Expected Due Date:     

    Personal financial statement {contained in the formal ADC loan Application} - Expected Due Date:      

    Prior three years personal tax returns {With W-2’s} - Expected Due Date:      

    Prior three years tax returns for {Corporations, Partnerships, LLC’s, LLP’s} - Expected Due Date:      

    Current balance sheet with two prior years’ historical balance sheets - Expected Due Date:      

    Current profit and loss statement - Expected Due Date:      

     Articles of incorporation or organization and by-laws - Expected Due Date:      

SUPPORTED BUSINESS/PROJECT DOCUMENTATION:

    Executive Summary/Business Plan AND Marketing - Expected Due Date:      

    Most Recent Feasibility Study - Expected Due Date:      

    Resumes on the principles, project managers, management consultants, etc. - Expected Due Date:      

    Summaries of any significant contracts, strategic alliances, partnerships, is what joint ventures that will produce revenues (i.e.         memberships, enrollment agreements, advanced bookings - Expected Due Date:      

    Sales and marketing agreement with one or more real estate brokerage/property management and/or operational management consultant or subcontractors - Expected Due Date:      

    Pre-lease agreements or proposed rent schedule AND/OR Pre-sales agreements or proposed sales contracts (preferably up to 20 to 35% of inventory) - Expected Due Date:      

 PROPERTY INFORMATION:

    Completion Value Appraisal (value after built) - Expected Due Date:            

    Executed sales agreement between buyer and seller - Expected Due Date:      

   Copy of deed and/or Title to the property - Expected Due Date:    

 PROJECT INFORMATION:

   Commercial builder’s resume’ “Must be ACCEPTED/APPROVED BY LENDER” - Expected Due Date:      

   PROJECT manager’s resume’ “Must be ACCEPTED/APPROVED BY LENDER” - Expected Due Date:      

   Copy of current general contractor’s license and business license {If applicable} - Expected Due Date:  

    Estimate of commercial construction costs PREPARED BY AN Independent third-party construction estimator residing in or at least   familiar with the local/regional construction market - Expected Due Date:      

    Commercial materials description - Expected Due Date:      

    List of commercial sub-contractors and suppliers - Expected Due Date:      

    Commercial construction time line - Expected Due Date:      

    Commercial construction draw schedule - Expected Due Date:       

    Built-in contingency plan (5 to 20% time added to deadline and 5 to 20% factored into the construction budget) -                          Expected Due Date:      

    Drawings and elevations, and/or presentation graphics (i.e. PowerPoint presentation) - Expected Due Date:     

    Blueprints and Plot plan - Expected Due Date:      

    Earnest money agreement on lot {If applicable} - Expected Due Date:    

    Construction contract with buyer {If applicable} - Expected Due Date:      

    Prequalification {90%} letter for buyer {If applicable} - Expected Due Date:      

    Soils and percolation test {If applicable} - Expected Due Date:      

    Zoning classification - Expected Due Date:      

    List of Provider's or utility services {Available at the site}- Expected Due Date:      

    Proof of insurance {Hazard w/ builders risk endorsement and generals liability} Prior to closing - Expected Due Date:      

    Check Here if Other Information Is Available (may be required depending on project type)

                            Describe Additional Documentation Available Here:

Email all of the Following Required Documents to the Address Below.

Please Indicate the Items Below That You Will be Submitting With This Project Summary Form:

    1.    Executive Summary for all Phases

    2.    Business Plan

    3.    Projected Financials / Proforma

    4.    Summary Breakdown For Use of Funds

    5.    Principal Resumes / Bio's

    6.    Completion Value Appraisal (Built out Value)

    7.    Third-Party Feasibility Study

Please Select The Name of Your Loan Originator:  -Select Choice- Larry Friedlan Rich Gardner Other  

If "Other" Please Provide Their Name: 

This Form Was Prepared By:       Telephone Number: 

Email Address: 

Date Submitted:   

 

Email ALL of the Above to the Address Below to Submit Your Project