Process for Pre-qualification and Underwriting for Alternative Financing
- Preliminary review & analysis for prequalification (PRA)
- Formal prequalification transmittal (PQT)
- Formal Debenture Underwriting Service Agreement (DUSA)
It may also be suited for businesses that do not qualify for conventional asset or UCC based debt financing.
International Clients will be required to form a US based company that own 100% of the Foreign National company. Funds will be disbursed to the accounts of the US based company.
This is a UCC requirement with no additional cost to the client charged to establish the US based company if needed. The cost to do so is included in the underwriting commitment cost.
REQUIREMENTS FOR ALTERNATIVE FINANCING
- A complete executive summary
- A detailed use of funds summary in USD
- Ramp up schedule time table needed to reach 1 year and positive cash flow of the pro-forma P&L
- 10 year proforma P&L in USD (Gross income over total operating expense = NOI pre-tax.
- A summary statement specifying the proposed loan amount in USD
ALTERNATIVE FINANCING BENEFITS AND TERMS OF QUALIFICATION
- Countries of Interest: USA and International (USA-friendly countries as qualified)
- Funding amount: from $5M (USD) or more based on a qualified basis.
- LTC & LTV: 100% as qualified Simple Interest: 8% to 11% (as qualified and subject to market adjustments)
- Loan Term: 3 to 10 years
- Loan Principal payment: Balloon, at term
- Ownership Interest: None Interest Payment
- Deferment Period: qualified to each project based on pro forma cash flow but NOT greater than THREE (3) years
- Recourse and Personal Guarantees: None
- Management oversight: None
- Voting rights: None
- Security: The CLASS "A" preferred certificate shares (to be issued) of a company; which function as a preferred lien interest until the loan is paid back.
- Sale of Preferred Shares: NO sale of stock shares takes place under this program. The funding portfolio is to finance companies or business concerns where an acceptable risk return is balanced by a governing market or business model of expanding opportunity.
- Underwriting completion time to release for loan close: 30-60 days (estimated).
- Closing and the disbursement of funds from underwriting completion: 30-45 days and/or until PAR (all loan funds) is completed. Customary Underwriting Service fees apply.
- These are due and payable at underwriting engagement*: Costs calculated on a sliding scale basis (qualified) beginning at 60% of capital finance requested. All funds immediately released to client as the proposed loan closes, less customary closing costs (i.e. 3rd party & Fiduciary costs). No hold backs, reserves, or PAR value(s) required for close of NET finance capital to the client.
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