Explain the property, use, and financing purpose

Mixed-use, restaurant, storefront, office, and other commercial properties can involve both real-estate and operating-business questions. Start with a concise description of who owns the property, who occupies each space, how the property is used today, and what will change after closing.

SBA materials illustrate why program eligibility and document requests vary with property use, business activity, lender method, and individual circumstances. Those rules are not Mayday requirements, but the organizational lesson applies: do not assume a commercial file can be understood from an address and purchase price alone.

  • Purchase contract or current ownership and payoff information.
  • Entity chart showing property owner, operating business, guarantors, and ownership percentages.
  • Current and proposed use for every residential and commercial unit.
  • Sources and uses showing acquisition, improvements, closing costs, and cash contribution.

Organize leases and operating records

Provide current leases, rent roll, occupancy details, and trailing operating statements when they exist. For an owner-operated property, separate the real-estate expenses from business operations and identify which entity pays each obligation.

SBA notes that some business financing programs rely on timely and accurate financial statements and other operating records. The exact Mayday request will depend on the property and program, but consistent records help a reviewer understand cash flow and responsibility.

  • Signed leases, amendments, options, concessions, and security-deposit records.
  • Trailing income and expenses with bank support when available.
  • Business financial statements or projections when operations affect repayment.
  • Property taxes, insurance, utilities, repairs, management, and association charges.
  • Licenses or approvals material to the intended business or property use.

Resolve physical and location risks

Commercial properties may require additional attention to zoning, code, accessibility, environmental condition, equipment, parking, and insurance. A mixed-use building can also have different risks in its residential and commercial areas.

Use FEMA's official Map Service Center as a starting point for flood-hazard information and keep a dated record of what was reviewed. Confirm property-specific conclusions with qualified professionals.

  • Zoning verification and certificates of occupancy where relevant.
  • Survey, title, access, parking, and easement information.
  • Environmental or property-condition reports when appropriate.
  • Flood-map and insurance review based on current and proposed use.
  • A written explanation of vacancies, deferred maintenance, or unusual tenant concentration.

Sources and further reading

  1. 504 LoansU.S. Small Business Administration
  2. 7(a) LoansU.S. Small Business Administration
  3. FEMA Flood Map Service CenterFederal Emergency Management Agency