The loan underwriting procedure is very straightforward at Commerce Funding Inc.
Please Read through each step of the process to learn more about what to expect as a loan applicant.
1. Submit An Inquiry and speak with an Account Executive.
2. Loan Submission. For real estate loans; a simple application, credit authorization, property expenses and a rent roll. For unsecured business loans; a 1 page application, 4 months of bank statements and 4 months of merchant processing statements (if applicable).
3. Conditional Approval in 24-48 Hours. Rates and fees are provided with any stipulations.
4. After stipulations are met; Final Processing and Closing occurs.
Unsecured business loans are normally funded in 3 days, hard money loans in 5 days and other mortgage programs in 3 weeks.Apply For A Loan