What does it take to get a commercial loan?

It takes the ability more than ever to prove your ability to repay the loan. commercial loans are based on risk. terms for a commercial loan use to have somewhat a standard in terms, but now terms can not even be quoted without seeing the project and history of it. 3 years personal and business financials are a must, a credit report with a score of at least 660, YTD financials, YTD P&L on the property, and depending if it is owner occupied or investment-the current rent rolls.

However, if you can pull it all together everything along with an Executive Summary of the project, terms can still be very favorable. Unlike residential financing, non owner occupied rates and terms are traditionally better than owner occupied. Why? Because the risk is less having multiple rent options than the risk to the investor having one tenant (such as an owner occupant) making the payment. IT IS ALL ABOUT RISK!
Brett Swearingen

Banks are tightening up on leasehold only business loans!

Banks need the asset side of there balance sheet to balance the liability side. It is very hard on banks to close a business only or leaseshold business loan. Commercial lenders such as Commercial Capital of Oklahoma do not have restictions placed on them or have bank examinars to answer to.