Project Funding Stages

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 provide 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.