Commercial Loan Process

Step 1- Submission

Simply Apply online and/or send in the following items:

Step 2- Approval

Upon loan submission, we will issue a prequalification in 48 hrs. Once the borrower understands and agrees with the terms of the loan, we will issue a Conditional Letter of Approval.

Step- 3 Appraisal

The Conditional Letter of Approval must be signed  and returned with all conditions required. The borrower will be able to send a check, cashier's check, wire transfer funds, or credit card payment for the appraisal. We will use existing appraisal ordered by borrower.

Step 4- Collect conditions

While the appraisal is being completed, our processing and underwriting staff will collect and review all condition. Additional conditions may be required.

Step 5- Closing

Once all conditions and appraisal are satisfied and reviewed, Peoples Choice will send out closing documents. Once closing documents are signed and reviewed, loan will fund.