7 Stages Of Funding

​We believe it is very important that our Brokers and Clients understand these stages so that the process is followed and everyone expectations are met.

​7 STAGES OF PROJECT FUNDING T-2

Stage 1: Pre Underwriting Tier 1-2

  • Submission from the client, with Application and Checklist of Documents
  • The Project goes through the Underwriting Predictive Risk Modeling.

Stage 2: Underwriting

  • Underwriting either sends the client a denial or a pre-approval letter ​
  • Internal approval with partners
  • Waiting for the client to send the rest of requested documentation
    required to get a term sheet .

Stage 3 Final Underwriting

  • After all the documents provided by the client, ​we provides a term sheet. ​
  • After Term sheet is agreed upon by all parties Final underwriting
    will send out all additional needed documents that were not
    provided previously.

Stage 4:Contract Stage

  • After Final Underwriting approves the Project Risk Management then takes over.
  • Legal will start working on the loan agreements and documents. ​
  • After contracts are agreed upon and signed by the client risk, management gives final approval.
  • After all internal approvals from risk management, legal and Loan Documents are signed by
    all parties Loan Documents are lodged with Custodian and Escrow Attorney.

Stage 5:Custodial Engagement (Tier 1 &2 Funding Only)

  • ​We provides references of previous clients (If needed)
  • Custodian Attorney provides introduction of Custodian
  • Custodian provides verification of source of funds
  • Custodian sends a letter to the client, Custodian Attorney, Custodian
    and to us confirming that all parties can perform, based on the signed
    Loan Documents

Stage 6: Closing (Tier 1 & 2 Funding Only)

  • Client follows instructions of the Attorney / Custodian and ​transfers Cash Collateral to the Custodian
  • Custodian confirms to the client, Attorney / Custodian ​that all parties have completed their initial responsibilities. (Tier 1 & 2 Funding Only)

Stage 7: Post Closing (Tier 1 &2 Funding Only)

  • Custodian / follows the draw schedule stated in the Loan Documents and provides the draws to the client.
  • ​Funder collects interest-only payments and principal payments based on the Loan Documents and agreements.

​6 STAGES OF PROJECT FUNDING T3

Stage 1. Pre-Underwriting

  • Submission from the client, with Application and Checklist of
    Documents (Application)
  • The project goes through the Underwriting Predictive Risk Modeling
    (See the UPR Model ​)

Stage 2. Underwriting

  • Underwriting either sends the client a denial or a pre-approval letter ​
  • Internal approval with partners.
  • Waiting for the client to send the rest of requested documentation
    required to get a term sheet.

Stage 3. Final Underwriting

  • After all the documents provided by the client, we will provide a
    term sheet specifying the terms and expectations of all parties.
  • After Term sheet is agreed upon by all parties Final underwriting
    will send out all additional needed documents that were not
    provided previously. (Application/Checklist )

Stage 4. Contract Stage

  • After Final Underwriting approves the Project Risk Management
    then takes over.
  • Legal will start working on the loan agreements and
    documents. (Loan Agreement see Section 9)
  • After contracts are agreed upon and signed by the client risk
    management gives final approval.
  • After all internal approvals from risk management, legal and Loan
    Documents are signed by all parties Loan Documents are lodged
    with Custodian and Escrow Attorney.

Stage 5. Closing

  • Client follows instructions of the Depositary.
  • ​Depositary confirms that all parties have completed their initial responsibilities.

Stage 6. Post Closing

  • Depositary follows the draw schedule stated in the Loan Documents
    and provides the draws to the client.
  • ​Funder collects interest-only payments and principal payments based
    on the terms and conditions in the Loan Documents.