Is this normal?

A business plan is important to a lender where a new business is proposed, as no 24-month operating statements are available. Subject to zoning laws, few industry types would be excluded, but some, such as a restaurant, which have a higher than average failure rate, might be excluded. Hint: the proforma statement that is included in your package is just there to impress the loan officer and underwriter, neither of which probably understands how to accurately interpret it.

Brett, Commercial lenders can request just about anything they want. Each makes up its own guidelines. But depending on what you are trying to do there may be some standards. If your business isn't established the business plan would certainly be something a lender would want to see. Tell us more about your business and what you are trying to finance and we might be better equipped to help you find a solution. Ron

Could be very normal, especially for a new(er) business. If you need help, contact your Chamber of Commerce and ask whether there is a local SCORE program (Service Corps of Retired Executives) that could help you. Their services are free!

There are no conforming set of guidelines for commercial lending.. the companies that offer this type of financing can have their own set of rules, which will vary from one lender to another.. but in general, most commercial lenders will require an "Exit Plan" and/or a "Business Plan".. the more details you give them, the more at ease they will be in lending you money.. it tells them you've really researched your property and business model and you have a good idea of what it will take to succeed.. If a commercial loan gets foreclosed, then the losses to the lender are much more than that of a single family home, so they want to be sure you know what your doing.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com