Here is what you will need to approach your bank in order to negotiate the complex decision making process they will undertake in formulating an exit strategy from a commercial troubled loan.
* Promissory notes and deeds of trust
* Loan agreements, security agreements, opinion letters, representations and warranties
* Memos or other written or oral agreements regarding deal terms
* Guarantees, letters of credit and evidence of loan advances
* Operational financial reports
* Tax information appraisals and financial statements
* Returns on occupancy, sales, personal property and real property
* Corporate/partnership documents
* Plans and feasibility studies
Stand your Ground! Fight the Bank!
In addition, you will need (if available) your current business plan, projections and the marketing plan, if it’s possible to obtain them. The underwriters also like to see information regarding any change in ownership or control, or any other material information affecting your ability to make the business or property successful.