LOAN PROCESS
FINANCING STEPS
PREPARE YOUR PROJECT DOCUMENTS
Prior to contacting GM Banking, it would be beneficial to have a good business plan or at least a written idea of what you are wanting to accomplish. A copy of your credit report might be required, so have one available. You can get quick temporary one free of charge by going to CreditKarma.com. There are others, but CreditKarma can be seen many times a day without effecting your credit. For final approval, we will assist you in getting a fully functional one.
COMPLETE APPLICATION
INFORMATION NEEDED
Commercial Lending is a unique type of procedure that requires additional documents than a regular home loan. You will be required to complete an application which will spell out not only the project, but those behind the project. Good credit may or may not be a factor, depending on the project's LTV and the funds you have to contribute.
BROKERS
UNDERSTANDING BROKER FEES
Broker Fees will be charged. The fees depend on the project, and the amount/risk of the loan. The riskier the loan, the more documents will be generated.
There may or may not be additional fees charged for other work needed. However, those fees will not be charged, nor paid, to GM Banking. Those fees may include costs for blue prints, MAI appraisals, inspection fees, etc..
​
