10/100 Loan Program

USA & International

Loan Program

Loan Size: $10,000,000 +

Project Types: Acquisition, Development, Construction

Requirements: Client deposits (or has his bridge lender deposit) 10% of the loan amount into an escrow account at Bank of America. Funds will be held for the term of the loan or 12 months, whichever is the sooner. Loan proceeds will be paid out to client through construction draws (for construction / development projects),

Construction/ Developments: Up to 100% loan to cost.

Loan Rates: 90 Day LIBOR + 1.5% (Currently at time of posting = 4.18%)
Bridge Lender Rates: 12% (This is only for the top10% if you need 100% funding)

Term: 1 to 5 years with no prepayment penalties

Development Program Funding Steps

Step 1 Borrower provides complete loan package for underwriting ( see checklist on next page)

Step 2 Documents are inspected and evaluated to ensure the project is acceptable.

Step 3 Once all required due diligence documents are received underwriting will commence.

Step 4 If underwriting approves the project a Conditional Letter Of Commitment (CLOC) is issued to the client.

Step 5 Borrower accepts the CLOC and (If needed, the bridge lender issues an approval for loan and) transfers the 10% deposit to the BOA Escrow Account.

Step 6 Final commitment with AIA approved constructions draw down schedule (Construction & development applications) is issued to the client within 24 to 48 hours.

Step 7 Loan Closing is scheduled, and total loan amount scheduled to be ready for draw down within 45 to 60 days.


Fees

On Application - USD $600 per Borrower to cover cost of various FBI and Interpol background checks.

On acceptance of CLOC Up to USD15,000 Earnest deposit required (Refundable on closing)

On Closing OLC Success Fee of 3% which includes a 1% payable to the Hedge Fund Broker


Equity
The Hedge Fund requires a 30% Equity Stake in all Projects Funded.