Loan applications are put together in many different ways before they land on an underwriter’s desk. Some borrowers and originators submit a simple one-page request, while others submit reams and reams of paperwork upfront.
Neither approach is ideal: Commercial loan underwriters do not have the time to read through hundreds of pages of tax returns and other data when deciding whether to pursue an application. A one-page synopsis does not usually provide enough detail either.
Underwriters need a clear and concise package that can be read quickly and understood. There are some standards you can apply to create an effective loan application with information that is most likely to get the loan approved.