Does anyone know where to find a class on commercial closings? I’ve searched everywhere but haven’t had any luck, which is surprising. There are plenty of courses for new signing agents, but very few options for experienced notaries looking to expand their skills. I don’t understand why the NNA doesn’t offer training beyond the basics—every year, we pay for certification on things we already know. For a notary with four years of experience, it feels like a complete waste.
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In commercial closings, instead of individual acknowledgements, there may be representative acknowledgements. Sellers and buyers may be signing on behalf of whatever company they represent: Bob Buyer as President of XYZ Corporation, Susan Seller as CEO of ABC Company, Inez Investor as CFO of Blahblahblah Inc.
Instead of just dealing with just one or two buyers or sellers as you would in residential loan signings, there may be several buyers, several sellers. So typically a lot more paperwork. More IDs to confirm, etc. But I think if you can successfully do a loan signings for residential seller/buyer package, you could reasonably take on a commercial loan signing too.
Page 351 of NNA’s The Notary Signing Agent’s LOAN DOCUMENT SOURCEBOOK has some examples of commercial loan documents but not a complete commercial loan package. And none of the sample commercial loan documents provide examples of signing with Representative Acknowledgements.
It is one thing to look at a loan document in a book, and quite another to handle actual printed commercial loan documents. I like having documents I can print and handle to practice :-).
Here is a link to some sample commercial loan documents I found online that may be of use:
A commercial loan package typically includes a loan application, business financial statements, and other documents that demonstrate the applicant’s ability to repay the loan.
Loan application
- The applicant’s contact information, including name, address, and phone number
- The amount of money requested
- The purpose of the loan
- The business’s description and history
- The business’s management team
- The business’s financial history
- The applicant’s plan for repaying the loan
- Any collateral offered
Financial statements
- The business’s income statement for the last three years
- The business’s balance sheet for the last three years
- The business’s profit and loss statement for the last three years
- The business’s tax returns for the last three years
- The personal tax returns for each guarantor for the last three years
- The business’s bank statements for the last two months
Other documents
- A business plan
- A purchase agreement
- A construction contract
- A property tax notice
- A detailed list of accounts receivable
- A detailed list of equipment to be purchased
You could reach out to your local title company and explain you have done regular residential buyer/seller loan signings and you would like the opportunity to do a commercial loan signing for them for the experience. Make it worth their while - offer a discount or offer to do it for free.
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Very good question. The commercial notary work is a difficult “nut” to crack. Working with business contracts, business loans, and other commercial transactions usually will be handled by attorneys or financial institutions that have their own in-house notaries. I would definitely get very comfortable and familiar with the various types of notarial certificates used for corporations, partnerships, and contractors, etc… I am sure those types of notarial work will definitely fall in the high end level for our services.
I have done a few of them.
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Apparently, this varies from state to state. In California, a notary is not allowed to certify capacity. Our notarial certs do not contain capacity. We notarize the person who appears before us by their valid government-issued photo ID. Our notarial cert has the signer’s name only - no title or capacity.
Signer may have various capacities and most times is required to sign with the capacity designated under signature line. Be sure they sign appropriately.
Agree with Carmen in that package may require one or several signers. Some packages are large, some are small. Usually, signers are savvy and have done this a time or 2 and are ready to sign, no questions. Their lawyer has already reviewed the docs and approved. Notary just has to be careful to catch all signatures/initials that may be in the middle of the page.
Just like in residential package, commercial packages vary depending on title and lender. SBA loans usually have a few other docs. Always call the hiring entity with any questions you may have.
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I’m so sorry I should have stated in my comment that I’ve done about 20 - 25 commercials closing, with the latest one just last night.
I would love to show that I’m trained and certified—it would really help me take this to the next level and make it my specialty. 
But thanks for the responses—I got some really good info!
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