What a lender needs to see: a CRE/SBA loan package checklist

Organize the decision before collecting documents

A useful loan package lets a reviewer understand the request, locate the evidence and identify what still needs an answer. Begin with that purpose rather than sending an undifferentiated folder of files.

The SBA’s 7(a) overview explains that application contents vary with loan size and lender processing method. Its Lender Match preparation guidance highlights intended use, business planning, projections, credit, collateral and experience. The checklist below is a preparation framework; the selected lender determines the actual request list.

1. Write a transaction summary

Prepare a short cover note that answers: who is requesting financing, what is being acquired or refinanced, how proceeds would be used, how repayment is expected to occur, and what timing constraints exist.

Separate a requested outcome from a confirmed fact. For example, identify a target closing date as a target and a proposed tenant as proposed. If a figure is still an estimate, give its basis and the next step needed to confirm it.

2. Choose the property or operating-business branch

For an income-producing property, organize available leases, rent information, operating statements, property details and the proposed business plan. For an operating-business request, organize available business financial information, the intended use of funds and the explanation of repayment. Where both are involved, give each its own section.

This distinction helps avoid using a property’s rent story as a substitute for the operating business’s financing case. Duke’s [Commercial Real Estate pillar](/commercial-real-estate/) and [SBA pillar](/sba/) explain the separate financing journeys. Ask which path fits before assuming the document requirements are interchangeable.

3. Make numbers traceable

Create an index with four fields for each document: name, period covered, source and unresolved question. Keep forecast information separate from historical information. When two files contain different figures, explain the difference rather than silently replacing one.

A useful working note might say that a property operating summary and a financial statement cover different periods. The next action is to reconcile the periods and explain the adjustment. It is not to choose the more favorable number.

For projections, keep the assumptions beside the forecast. Describe what must happen for the plan to work and what evidence supports that expectation. This gives the reviewer something concrete to evaluate.

4. Identify the people and funds behind the request

Prepare an ownership summary, relevant operating or investment experience, the proposed equity source and a list of existing obligations to discuss. Ask the lender which supporting records it needs and how it wants them delivered. Do not treat this article as authorization to email sensitive financial records to an unverified recipient.

Referral partners can help by providing a clear scenario summary and identifying missing items. An incomplete item should remain visible in the index rather than being presented as reviewed.

5. Close the open questions before calling the package complete

Keep a short issues list: item, responsible person, evidence needed and next action. This lets the borrower, advisor and lender discuss the same version of the request.

For an SBA scenario, the [7(a) versus 504 comparison](/insights/sba-7a-vs-504/) provides context for the program discussion. This preparation checklist does not decide eligibility or promise an approval. Bring Duke the scenario and its unresolved questions so the next review can focus on the financing structure and the evidence it needs.