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Hotel Construction loan checklist


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Conventional
CMBS
SBA/USDA
Construction



Part 1: Guarantor's financial information


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 businesss affiliates and another excel form for the costruction cost breakdown

Press to download SBA hotel loan forms  construction-hotel-loan-forms-.zip


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) A copy of drivers license

7) Guarantor's financial of the other affiliates owned  at 20% or more:





Part 2: Hotel's financial information

1) Feasibility studay

2) STAR report

3) Projections for 12 months and 3 years - There needs to be assumptions supported by the feasibility study and the STAR report for the ADR, Occupancy, and the expense items on the projection

4) Closing statement of the land parcel where the hotel will be developed

5) A copy of the franchise agreement or approval

6) Full cost breakdown for the development and the detailed breakdown for the construction costs

7) Cost breakdown for the FF&E

8) Architecture high level plans (pdf format) showing for each floor the number of rooms and sqft of the rooms and the floor

9) A copy (pdf format) of the survey




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