Hotel / Motel
Loan Proposal Contents

• Statement on How Funds Will be Utilized.
• Current Financial Statement... (Within 60 days)
• Both Company & Personal Statements Required
• 2 Years of Tax Returns on Corporation, with Schedules as submitted to IRS.
• 2 Years of Tax Returns on EACH principal, with Schedules as submitted to IRS.
• Detailed 3 Year Profit & Loss Statement on Existing Property
• Three Year Pro Forma.
• Recent Appraisal (MAI if over $250,000)
• Color Photos or Artist’s Renderings of Property.
• Market Study. (If New Construction)
• Rate Schedules.
• Description of Amenities Offered.
• Comparable Rentals & Vacancy Data.
• Copies of Existing Mtg, Leases & Rent Role. (If Applicable)
• Purchase & Sale Agreement. (If Applicable)
• Detailed History of Corporation.
• Cost Breakdown, in Detail, of Construction Costs. (If Applicable)
• Partnership Agreements or Articles of Incorporation.
• Detailed Resume on EACH principal.
• .Corporate Resolution giving signing party authorization to borrow said amounts and sign for same.