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Member FDIC. Equal Housing Lender.
Middleburg Bank, a division of Access National Bank.

Commercial Construction & Real Estate Loan Process

Step 1: Collect the following for a Business Loan Application:

  1. Last 3 years of business financial statements and tax returns
  2. Current interim business financial statement
  3. Agings of accounts receivable and payable
  4. Last 3 years of personal tax returns for owners of the business
  5. Current personal financial statement for owners of the business
  6. Backlog/project status report for contractors
  7. Rent Roll for Property if applicable
  8. Condo Documents if applicable
  9. Most recent bank deposit and brokerage account statements

Step 2: Preliminary review of all materials collected

Step 3: Issue a proposal (typically takes a few days)

Step 4: Client signs proposal and returns with proposal fee

Step 5: Bank underwrites

Step 6: Bank orders appraisal (where appropriate)

Step 7: Bank approval total time is about 6 weeks from when the Bank has all information

Step 8:  Bank issues commitment letter and client signs

Step 9: Documents are prepared and closing scheduled

We Succeed Because Our Clients Do