The Engagement
From First Contact to Delivered Memo
Every engagement follows the same structured process. You will always know where your file stands and what comes next.
1
Submit Your Package
Fill out the contact form on our homepage or email grant@cornerstoneunderwriting.com directly. Include a brief description of the deal, loan amount, loan type, and borrower industry. For larger file sets, a secure file transfer link will be provided upon request.
We confirm receipt within 2 business hours
2
Initial Review and Fee Quote
We conduct a preliminary review of the deal summary and provide a flat fee quote based on complexity. No work begins and no fee is charged until you approve the quote. Simple deals receive a quote same day. Complex deals may take one business day.
Flat fee agreed upon before work begins
3
Document Collection
Once the fee is approved, you submit the complete document package. If any required documents are missing, we will flag them within a few hours of receipt. The 48-hour turnaround clock starts only when a complete package has been received.
48-hour clock starts on complete package
4
Underwriting Analysis
Grant reviews the documentation you provided and conducts a credit analysis grounded in SOP 50 10 8. This includes eligibility review, financial spreading, DSCR analysis, collateral evaluation, use of proceeds review, and guaranty jeopardy assessment. All work is based on the materials in the package. If anything needs clarification, you will hear directly rather than see assumptions in the memo.
5
Memo Delivery and Revisions
The completed credit memo or deal screen is delivered to your inbox as a formatted document. If revisions are needed based on additional information or lender-specific formatting requirements, that is discussed directly after initial delivery. Revision scope and any additional fees are agreed upon before work resumes.
Delivered within 48 hours of complete package
What You Receive
Memo Format and Deliverable
Every credit memo is delivered as a formatted document covering the following sections in order. The depth of each section scales with the complexity of the deal.
Standard Credit Memo Structure
All SBA 7(a) memos include the following sections
Loan Request Summary (borrower, loan amount, type, purpose, term)
SBA Eligibility Analysis (entity type, ownership, size standard, ineligible business screen, credit elsewhere)
Borrower and Business Background (history, ownership structure, management, affiliates)
Financial Spreading (3-year tax return analysis, interim financials, add-back analysis)
Business DSCR and Global Cash Flow Analysis
Use of Proceeds Review (eligibility, injection verification, proceeds allocation)
Collateral Analysis (available collateral, lien positions, shortfall if applicable)
Credit Risk Summary (strengths, weaknesses with mitigants, risk rating)
Guaranty Jeopardy Flags (any unresolved issues that could jeopardize the SBA guaranty)
Conditions and Recommendation (closing conditions list, approval recommendation)
Document Checklist
What to Include in Your Package
The documents required vary by loan type and transaction structure. Use the sections below to identify what applies to your deal. Incomplete packages will be flagged before the 48-hour clock starts.
Universal Requirements
Required for all SBA loan types and deal structures
SBA Form 1919 for all 20% or greater owners
SBA Form 413 (Personal Financial Statement) for all 20% or greater owners
Three years of signed business federal tax returns
Three years of signed personal federal tax returns for all 20% or greater owners
Year-to-date profit and loss statement (within 120 days)
Current balance sheet (within 120 days)
Two to three months of business bank statements
Complete business debt schedule listing all current obligations
Government-issued photo ID for all 20% or greater owners
Articles of incorporation or organization and operating agreement
Business licenses and registrations
Business overview or narrative (existing businesses)
Business Acquisitions
Additional requirements for any change of ownership transaction
Signed Letter of Intent (LOI) or Asset Purchase Agreement (APA)
Three years of business tax returns for the seller entity
Current interim financials for the acquired business (within 120 days)
Business valuation or independent appraisal
Seller complete debt schedule
Seller note documentation if applicable
Buyer resume or biography showing relevant industry experience
Seller personal financial statement
Real Estate (7(a) and 504)
Additional requirements for any transaction involving commercial real estate
Commercial real estate appraisal
Phase I Environmental Site Assessment
Executed purchase agreement or current lease agreement
Property ownership and title history
Construction contracts and contractor bids if applicable
SBA 504: Evidence of owner occupancy (51% existing, 60% new construction)
SBA 504: Equipment invoices if equipment is part of the project
Certificate of occupancy for existing properties if available
Startups and New Businesses
Additional requirements when historical financials are limited or unavailable
Formal business plan including market analysis and growth strategy
Owner resume demonstrating relevant industry and management experience
Signed contracts, LOIs, or letters of support from future customers if available
Evidence of equity injection source (bank statements, gift letters if applicable)
Financial Projections Must Include (minimum 2 years monthly)
Total revenue
Cost of goods sold (COGS)
Gross profit
Total operating expenses
Net profit
EBITDA
Projections must include a written assumptions page explaining the basis for revenue estimates, growth rates, and expense drivers.
Franchise Transactions
Additional requirements for any deal involving a franchise agreement
Current Franchise Disclosure Document (FDD)
Signed franchise agreement
Any management agreements associated with the franchise
Franchisee financial performance representations from the FDD if available
Partner Buyouts
Additional requirements for partial or full ownership transfers between existing partners
Current operating agreement showing existing ownership percentages
Buyout agreement or executed term sheet
Departing partner personal financial statement
Business valuation or documentation supporting the agreed purchase price
Debt Refinancing
Additional requirements when SBA proceeds will be used to refinance existing debt
Current loan statements and payoff letters for all debt to be refinanced
Original loan documents evidencing the original purpose of the debt
Evidence that refinancing provides a material benefit (rate, term, or cash flow improvement)
Documentation confirming debt was not originated by the same lender requesting the guaranty unless unreasonable terms exception applies
Not all existing debt is eligible for SBA refinancing. Eligibility will be evaluated during the underwriting review based on SOP 50 10 8 requirements.
If you are unsure which documents apply to your specific deal, submit a brief deal summary first. We will confirm exactly what is needed before you invest time pulling documents together.
Pricing
How Pricing Works
All fees are flat and agreed upon before work begins. Pricing is based on deal complexity, not loan size. A clean single-entity working capital deal is priced differently than a multi-affiliate acquisition with a franchise review. A fee quote is provided within one business day of your initial submission at no charge.
Start Here
Deal Screen
$299 to $2,499
Submit a deal and get a clear go or no-go before you spend a week packaging it. Covers SBA eligibility, DSCR snapshot, red flag identification, and a written recommendation with reasoning.
Full Underwrite
Lender-Ready Credit Memo
$1,000 to $5,000
A complete credit memorandum built for lender submission. Covers full financial spreading, global DSCR, collateral, use of proceeds, guaranty jeopardy analysis, and closing conditions.
Targeted Review
Guaranty Risk Review
$500 to $1,500
A focused review of a deal already in packaging. Identifies guaranty jeopardy flags, eligibility gaps, and SOP compliance issues before you submit to the lender.
What Drives Complexity
Single entity, clean financials, working capital only
Multiple affiliates requiring global cash flow consolidation
Two years of operating history with positive DSCR
Business acquisition with seller note and goodwill
No change of ownership, no franchise, no real estate
Franchise FDD review or real estate with environmental
Clean personal credit with no derogatory history
Prior bankruptcy, tax lien, or CAIVRS flag requiring analysis
Lower complexity
Higher complexity
No fee is charged until a quote is approved. Submit your deal summary and receive a fee quote within one business day.
Request a Quote