Apply Business Real Estate Loans | West Alabama Bank

How to Apply – Business Real Estate Loans

WABT Business real estate loans

If you’re ready to apply for a business real estate loan, use this guide to help you get prepared. Once you’ve collected the right information, give us a call or stop by a local branch.

 

Business Information

  • Business Name
  • Physical Address
  • Phone Number
  • Fax Number
  • Tax ID or SSN
  • Date business was established
  • Business Structure
  • Ownership type
  • Number of Owners
  • Annual revenue
  • Business banking account numbers
  • Articles of Incorporation or Certificate of Formation documents
 

Business Owner Information

  • Name
  • Home address
  • Phone Numbers
  • SSN
  • Citizenship
  • Annual household income
 

Applicant Information

  • Primary contact (must be business owner)
  • Primary contact phone number
  • Primary contact email
 

Current Loan Information

  • Lender
  • Original loan amount
  • Current loan balance
  • Current monthly payment
 

Property Information

  • Address of collateral property
  • Property type
  • Current market value of property
 

Other required documents

  • Business Federal Tax Return for two most recent years
  • Personal Federal Tax Return for two most recent years
  • Schedule K-1 for all business entities reported on Schedule E, Part 2 for the same two years as the tax returns provided
  • Operating licenses and permits if applicable
  • Lease agreements if applicable on investor loans
  • Purchase contracts for purchase loans