Loan Process Timeline

Metropolis Lending LLC (ML) goals are to help you streamline the loan process for your commercial loan.  The following is the estimated commerical loan process timeline:

Phase 1:  Financial Review

The initial phase generally is completed within 2 to 4 weeks of the initial review of loan application. The financial review requires the applicant to provide the necessary financial statement(s). In some cases, the number of properties and the size of the property may affect the timeline of phase 1.

Phase 2:  Audit Review

In this phase, the Audit Review Board will audit loan application, documents, statement, etc.  The entire loan package is subject to review and acceptance.  This process is estimated at 2 to 6 weeks.  Once all due diligence are received, including professional documents and statements, the project is reviewed by the Underwriting Credit Committee for final approval. 

Phase 3:  Appraisal

Based on requirements as needed for an appraisal at the time of performance. The estimated timeline for this phase is usually 4 to 6 weeks. This timeline is strongly dependent on the number of properties included in the loan and the size of each property.

Phase 4:  Title Report

After the initial time of request, the title report is normally completed within 1 to 4 weeks.  There are element in which may delay the title reports such as property tax report, liens, etc.

Phase 5:  Closing & Funding

The final phase of the commerical loan process is closing and funding. This phase normally occurs within 1 to 4 weeks after the product has been determined and all previous phase have been satisfied by the applicant.