Document Purpose & Applicability
The Corva LLC Borrowing Certificate (Single-Member) is a mandatory closing document required for all business-purpose Non-QM, DSCR, and investor loans where the vesting entity is a single-member Limited Liability Company (LLC). This certificate confirms that the entity was legally organized, remains in active good standing with the Secretary of State, and grants full legal authorization to the sole managing member to encumber real estate collateral.
Execution & Supporting Documentation Requirements
- Signatory: Must be signed and dated by the sole managing member of the LLC.
- Operating Agreement: A fully executed copy of the LLC Operating Agreement (or Single-Member Resolution) must accompany this certificate.
- Articles of Organization: Certified copy of the filed Articles of Organization from the state of formation.
- Certificate of Good Standing: Issued by the Secretary of State within 60 days of loan closing.
- EIN Verification: Official IRS Form CP-575 or EIN confirmation letter.
Compliance Directives
Under Corva Business Purpose Underwriting Guidelines, single-member LLCs are permitted in all approved lending jurisdictions. The borrowing entity must be formed for a legitimate business purpose, and the individual member must execute an unconditional personal guarantee in their individual capacity.