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JETTA CONSULTANTS / NEW VENTURE CAPITAL
631-813-1086 / email@example.com
Date: September 2009
From: Lawrence Withowski
Subject: Project Financing
In view of the current economic and banking situation it is well known that most banks and funding institutions are not providing any financing for medium and large type building and construction projects; i.e. for projects in excess of $50 million or more. If any bank was even to consider participating in a funding arrangement the initial response time has been averaging about two months. If there is an interest the present banking procedure is taking approximately four months to reach an agreement and will usually require a minimum of 30% - 40% equity provided by the company. Most U.S. banks will not even consider any funding for a start up venture. As a result, many a project is falling by the wayside and being put off until the current economic and banking situation is corrected. At best this is many months away from happening.
However, there is a solution! This office in conjunction with certain banking and financial institutions is most interested in receiving projects that qualify for “project financing.” The project owner or developer must be able to provide the following:
· A project cost of not less than $50 million
· Cash equity of not less than 10% of the project cost. (Minimum cash equity requirement is $10 million.) E.G. A project with a cost of $320 million must be supported with an equity cash investment of not less than $32 million.
The geographical location would include North and South America, Europe, Asia and Africa. The projects must have a “build-out period” of not less than two years. The ideal build-out should be between three and five years. All projects must involve construction of some type.
To provide our clients with the necessary financing to complete medium and large scale construction type projects. To help us so that we can help you, please submit the following:
· A comprehensive Business Plan
· Use of Funds
· Required draw down schedule (minimum 24 months)
· Ability to provide cash equity (minimum of 10% of the project cost, but never less than $10 million)
What type projects would be considered for funding?
Any project that involves building and construction. For example, hotel construction, shopping centers, theme parks, marinas, oil refineries, transportation related projects, sport stadiums, drilling and exploration, bio-diesel facilities and energy related projects.
Note: The funding can be structured as a loan involving Principal and Interest or as an Equity investment in which no payback would be required. In either case the funding would be structured on a non-recourse basis. The specific funding structure would be determined after a careful review of the project, its specific funding requirements, the supporting draw down schedule and the client’s preference.
Key Features and Advantages:
· No advance, retainer, or up-front fees.
· If structured as a loan the present rate of interest would be under 2%.
· Loan maturities may be structured for a period of up to 25 years.
· Borrower may receive front-end grace period of up to 24 months, with no payments of principal or interest during the grace period.
· This office will work directly with the funding institution representing your project from the very inception to the ultimate funding.
For further information please contact the undersigned.
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