Executive Summary – Commercial Loan Application

Mandatory Items Required for Loan Processing to Begin:

  • Completed Commercial Loan Application
  • Executive Summary – Including
    • Project Summary
    • Ownership Breakdown
    • Borrower Breakdown
  • Personal Financial Statement (If Individual)
  • Two Years of Audited Financial Statements or Internal Statements If Entity Has No Audits and Two Years of Tax Returns
  • Current Year to Date Financial Statements; P& L and Balance Sheet
  • Schedule of Existing Business Debt
  • Documentation of Grants, Projected Income, Cash Flow, Etc. (If Applicable)
  • Purchase Contract or Existing Note For Refinance (If Applicable)
  • Rent Rolls, Financial Statements for Project Being Purchased (If Applicable)
  • Evidence of City Approval or Support (If Applicable)
  • Project Budget (If Applicable)
  • Pro-Forma Sources and Uses (If Applicable)
  • Fees Due at time of Application:
    • Nonprofits: $800 (Includes: Application, Processing, Flood, & Tax)
    • For-Profits: $1200 (Includes: Application, Processing, Flood, & Tax)
    • Environmental / CENTEC Fee (if applicable)
    • Legal Fee (If Applicable)
    • Appraisal Fee

Other Required Items:

If these items are supplied during the underwriting process, it will expedite the closing process. if items are obtained after loan approval, please allow up to 30 days to close your loan.

  • Resolution to Borrow and Designation of Signer for Loan Documents
  • Evidence of 501c (3) Tax-Exempt Status (If Nonprofit)
  • Copy of Formation Documents, including Encumbrance Certificate
    • If a Non Profit or For Profit Corporation, Please Include:
      • By-Laws, Articles of Incorporation and All Amendments
    • If a LP or LLC, please include:
      • Operating Agreement
      • Articles of Organization
  • Hazard Insurance Policy – Insurer Must be a “B” Class or Higher Showing CDFI as Additionally Insured “Loss Payee”
  • Evidence of General Liability Insurance
  • Escrow Instructions
  • Preliminary Title Report


Due at Closing

  • Origination Fee:
    • Construction: 2%
    • Acquisition or Refinance: 1.5%
  • Loan Document Fees: $700 (at Closing)
  • Title & Escrow Fees (3rd Party)

Due Prior to Closing

  • Appraisal Fee
  • Additional Legal Fees (If Applicable)
  • Environmental / CENTEC Fee (If Applicable)

Other Items Which May Be Required:

  • Letters of Support for Organization, If Available
  • Brochures, Newsletters, or Newspaper Articles on Organization or Project
  • List of Board of Directors and Resumes

Document Submission:

Mail to: Clearinghouse CDFI, ATTN: Underwriting Department, 23861 El Toro Road #401, Lake Forest CA 92630 (OR) email to: info@ccdfi.com