CCN’s Verified Financials™ designation is assigned after an independent evaluation of the business financials has been conducted. A hospitality property earns a Numbered Certification identifying the property and business in the marketplace as one with Verified Financials™. Each Numbered Certification may be used by Innkeepers and Realtors in advertising and on industry websites. CCN’s underwriting process examines three (3) most recent years Federal Tax Returns, (3) most recent years Income & Expense Statements and the current Year to Date Income & Expenses Statement to determine a level of debt the business cash flow comfortably supports relative to an average of the historical business cash flow. CCN’s analysis is conducted consistent with generally accepted underwriting guidelines and in consultation with CCN lenders.
As an added benefit, CCN will confidentially retain this financial data and documentation; this service insulates an owner from sharing sensitive data with unqualified prospects. Once a Pre-Qualified Buyer™ has been identified; the property/business data may be combined with that of the buyer to efficiently underwrite the feasibility of a successful transaction.
Note: A commercial financing combines the analysis and underwriting of the personal qualifications and assets of the principal/s, with the business financials, business assets and property characteristics of the business/property being acquired. A Prequalified Buyer™ is certified as to their individual qualifications only and does not include an analysis/underwriting on a specific property/business.
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