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$100,000 and up for Business and Equipment, $500,000 and up for Commercial Real Estate.
650 or Better
Trailing 12 Months
Historical
Projections, Proforma
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7-20 Years Fixed, 20-30 Year Amortization (depends on property condition)
Reserve accounts to be set up for taxes, insurance, capital improvements, deferred maintenance
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Documents required to provide a Quote & Receive a Letter of Interest/Term Letter (Real Estate only):
- Three years tax returns (corporate & individual)
- Three years financial statements (corporate & individual)
- Environmental transaction screen report (Fox will provide)
- Property condition report (Fox will conduct)
- Blank standard form lease
- Last three years operating statements
- Current income and expenses, ytd.
- Current rent roll
- Legal description of property - Deed
- Summary Memorandum (Fox will provide)
- Management contract (if available)
- Last 3 year capital expense history
- Three year capitol improvement budget (if applicable)
- Occupancy permit(s) or tax card
- Signed credit report authorization
- $100.00 check for credit report
- Resume
Amortization Adjustments
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