With the exception of hard money loans, a lender may base their approval and rates based on your business finances and personal finances. In the case of real estate-related loans, such as for the purchase or renovation of a building, it's common for the lender to also consider how the property will be used.

Your business credit profile and your personal credit score may also be evaluated to determine the risks of loaning you money. Additionally, the commercial lender will look at your company's "debt service coverage ratio" by dividing your net operating income (NOI) by your total debt service.

Prepare to show other documentation as well, such as tax returns, business checking account statements, financial statements, and more.