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1. Client submits Executive Summary showing positive cash flow as soon as possible. The NCND is also sent at this time.
2. The proof of funds confirming the 5% capital contribution is sent
3. The fee agreement is signed. The fee is added to the loan and paid at Closing
4. Lender replies and requests the entire package
5. Lender sends out a Term Sheet Followed by the Contract ( NOTE: Time is of the essence )
6. 5% Capital Contribution from Client is required within 24 hours of submitting the signed contract agreement.
7. Loan is approved once agreement is signed. Contribution is held to offset the expenses, however if the loan fails to fund, the client is reimbursed the full Capital Contribution.
8. Loans, up to 20 million funds in 60 days. Loans from 21 to 50 million funds in 90 days. Loans over 50 million funds in 120 days.
~ Only 5% contribution required of total loan amount requested.
~ No Points.
~ No Hidden Fees.
~ Interest only terms of 3, 5, 7, 10 years.
~ Term of Loan can be for 3, 5, 7, 10 years.
~ Term of Loan may have option to renew for expanded period.
~ Rate of Interest 5¾ - 8½ % based on a deal to deal basis. (may go higher if equity is refused)
~ Fixed Interest Rate.
- Funder may take equity position
- No compensating balances required
Project review included but project writing and consultation is seperate.