PFCS DAILY BLOG
A practical guide to preparing an accounts-payable aging for commercial underwriting, including reconciliation, vendor concentration, past-due balances, disputed invoices, payment terms, cash forecasting, and closing updates.
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A practical guide to equipment-appraisal scope, value definitions, inspections, ownership, condition, marketability, useful life, advance rates, and closing coordination.
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A practical guide to mapping secured creditors, lien priority, payment blockage, enforcement standstills, collateral releases, proceeds, and refinancing before negotiating an intercreditor agreement.
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A practical guide to landlord waivers, lender access agreements, leased-premises collateral, lien priority, notice, cure, removal rights, and closing coordination.
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A practical guide to understanding deposit account control agreements, blocked-account structures, cash dominion, bank coordination, funding conditions, and post-closing treasury controls.
Read articleA practical guide to ordering, reviewing, and translating a commercial property condition assessment into a lender-ready repair, reserve, budget, and closing plan.
Read articleA practical borrower guide to coordinating title, survey, legal-description, access, easement, encroachment, lien, and closing-condition review for a commercial real estate loan.
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A practical borrower guide to environmental due diligence, site history, Phase I and targeted follow-up, timing, access, cost, and lender conditions in commercial real estate finance.
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A practical guide to reviewing pricing, structure, collateral, conditions, covenants, fees, timing, and legal terms before accepting a commercial loan commitment.
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A practical guide to preparing a lender-ready personal financial statement that reconciles assets, liabilities, ownership interests, liquidity, and contingent obligations.
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How commercial borrowers can organize K-1s, entity returns, distributions, ownership records, and contingent obligations for lender review.
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A practical guide to organizing commercial-loan insurance conditions covering property, liability, specialty risks, lender clauses, closing evidence, and renewals.
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A practical guide to organizing entity records, ownership evidence, good-standing documents, and signing authority before a commercial loan closes.
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A practical guide to turning executed leases and amendments into a lender-ready lease abstract that supports rent, rollover, expense recovery, and cash-flow underwriting.
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A practical guide to preparing a dated, supportable personal financial statement that helps commercial lenders evaluate liquidity, leverage, guarantees, and the financial capacity behind a loan request.
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A practical guide to measuring customer concentration, documenting contract and collection quality, and showing lenders how the business can withstand the loss or slowdown of a major account.
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A practical guide to reviewing UCC search results, matching liens to obligations, obtaining payoff and release documents, and preventing collateral surprises at a commercial loan closing.
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A practical guide to producing current balance-sheet and income-statement information that reconciles, explains year-to-date performance, and supports commercial underwriting.
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A practical guide to preparing an accounts-receivable aging that reconciles to the balance sheet and helps lenders evaluate collections, concentration, eligibility, and borrowing-base availability.
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A practical guide to building driver-based business projections that reconcile to history, explain financing needs, and remain credible under lender stress testing.
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A practical guide to documenting borrower equity for a commercial loan, including acceptable sources, funds tracing, deposits, investor contributions, liquidity, and closing reconciliation.
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A practical guide to building a sources-and-uses statement that reconciles purchase price, project costs, loan proceeds, equity, reserves, and closing requirements before underwriting begins.
Read articleA field-by-field guide to preparing a complete business debt schedule that reconciles to the financial statements and gives lenders a reliable view of payment and maturity risk.
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A practical guide to building the consolidated cash-flow picture lenders use when a guarantor owns several businesses, properties, and related entities.
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A six-month commercial property refinance plan that helps sponsors protect optionality, surface underwriting issues early, and avoid a last-minute maturity crisis.
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Month-end and quarter-end reporting provide a natural opportunity to refresh the financing file and identify emerging trends.
Read articleA term sheet summarizes proposed economics and conditions but is not a substitute for final underwriting or legal documents.
Read articleA refinance can improve payment timing or structure, but it should be evaluated against total cost, collateral and maturity risk.
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Acquisition financing depends on purchase structure, historical performance, buyer capacity and a credible transition plan.
Read articleEnvironmental review helps identify recognized conditions and other property risks that may affect collateral and closing.
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Commercial financing may involve lender fees, legal work, appraisal, environmental review, title, recording, insurance and other transaction expenses.
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Fixed and floating structures distribute interest-rate risk differently across the loan term.
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A personal guarantee can create repayment responsibility beyond the borrowing entity and must be understood before commitment.
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Seasonal businesses need liquidity plans that connect inventory, payroll and operating expenses with the timing of customer receipts.
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The rent roll connects units, lease terms, occupancy and collected income to the property’s underwritten operating performance.
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Hotel underwriting combines real-estate value with operating performance, brand, management, market demand and capital needs.
Read articleAn appraisal provides an independent value opinion under defined assumptions, but the lender decides how that value is used in underwriting.
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Covenants define ongoing financial, reporting and operational expectations after a commercial loan closes.
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Owner-occupied property financing combines real-estate underwriting with analysis of the operating business that will support repayment.
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Factoring accelerates cash from eligible receivables, but pricing, customer notification, reserves and recourse terms shape the real outcome.
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A refinance requires enough lead time for underwriting, third-party reports, documentation, negotiation and resolution of property issues.
Read articleAn asset-based line may limit availability to a percentage of eligible receivables, inventory or other approved collateral.
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Construction financing releases funds in stages as documented work is completed and verified under the lender’s draw process.
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Financing and leasing can produce different ownership, cash-flow, tax and end-of-term outcomes even when monthly payments look similar.
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A lender-ready package helps an advisor and potential lender understand the financing request, repayment sources and transaction risks faster.
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Debt service coverage ratio compares underwritten net operating income with scheduled annual debt service.
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Collateral, availability, covenants and renewal terms can materially change how useful a revolving credit facility is to a business.
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SBA 7(a) and SBA 504 financing can support eligible small businesses, but their permitted uses and transaction structures differ.
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Carriers often fund fuel, payroll, insurance, tolls and repairs before customer invoices are collected, creating a predictable timing gap.
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A commercial bridge loan is only as strong as the measurable exit strategy connecting acquisition, renovation, lease-up and stabilization to permanent debt.
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SBA-backed financing still requires participating-lender underwriting, program eligibility review and complete transaction documentation.
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Debt yield compares underwritten net operating income with the proposed loan amount and is often reviewed alongside DSCR and loan-to-value.
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Loan-to-value compares proposed debt with the property value accepted by the lender and helps define leverage and required equity.
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The correct loan term should reflect the useful life of the financed asset, expected cash generation and the borrower’s refinancing tolerance.
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Lenders generally look beyond revenue and examine how reliably operating cash flow can cover existing obligations and proposed debt.
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A financing request becomes easier to evaluate when the amount, use of funds, timing and repayment source are stated before lender outreach begins.
Read articleNew commercial-finance guidance is published daily, with the complete August 2026 archive preserved below. Content is general information and is not financial, legal, tax or investment advice.
