DEBT FINANCING SUMMARY
This provides 100% funding of the total project cost for global projects, based on the following criteria;
LOAN SIZE: $2 Million minimum with no maximum
TERM: 2 - TO - 10 YRS
INTEREST RESERVES: 2 YRS (10% OF LOAN AMOUNT COVERS THE INTEREST RESERVES)
PROJECT TYPE: Global project funding
REQUIREMENTS: Client(s) must put up a minimum of 1% - 10% in cash for interest reserves. These funds will be placed into a Certificate of Deposit in a Global Account.
EQUITY: Projected loan to value may not exceed 90% of Appraised Value. In the event loan proceeds exceeds 90% borrower may be asked to put up a larger reserve deposit to offset the amount of deficiency.
THE PROCESS:
- Borrower(s) submits a complete Project Submission form with all supporting documentation.
- Sign Asset Builders, LLC NCND
- Application
- Executive Summary
- Schedule Use of Funds
- Proof of Funds for the 1% - 10% reserve CD account
- Corporate Resolutions
- Global NCND
- Global will issue a Letter of Understanding with the preliminary loan terms or Letter of Declination; as appropriate.
- Borrower accepts the Letter of Understanding, completes any required federal compliance documentation and returns the package to Global.
- Upon receipt, Client will transfer the down payment to establish a Certificate of Deposit with Global.
- The Project will be submitted for Final Underwriting / Due Diligence (90 to 120 days).
- Upon final underwriting approval, Global will issue Letter of Commitment stating final loan terms.
- Upon Acceptance from Client, Global then schedules a funding date within 90 days for the project, the loan closes and the project is funded through the approved draw schedules.
- Minimum loan size for 1% - 4% will be 10 Million, and due diligence period will be an additional 90 days.
Disclaimer: We are not United States Securities Dealers or Brokers or United States Investment Advisers. We are acting only as intermediaries/introducer's for business to business financial services |