Call 1-877-FUNDER-1 Hey Position 1, review my deal now!
How does this latest 100% Loan Program work? In a word: simply.
Simply submit your loan summary request to Position One. That is, of course, the first step in the process. Your loan summary will be reviewed and we will contact you with feedback regarding your project's viability for this program. If the project is deemed viable, the borrower is informed in a conference call with Position One. From there, the formal application process can begin. Position One's fee agreement is to be signed by the borrower at this time. Position One's fee agreement is equal to between 0.75% and 1.25% of requested loan amount. All applications and requests for information from the borrower are then submitted to the Joint Venture investors. Conference call is then held between borrower and the joint venture investors. Once borrowers and JV investors are in agreement to go forward the clock begins on the due diligence process. If there is no agreement to work together then process ends at this time. If there is agreement to go forward from both parties, the processing fee and applications fee are submitted to the J V investors at this time. Borrowers are free to discuss the project with the joint venture investors as often as they choose.
Loans under this program will typically close in 45 days. Some loans may take as much as 60 days if they involve a higher degree of complexity. In most cases, the first portion of funds is released within two weeks of approval. The balance of funds is then released in another 30 to 40 days after that. This pace may be adjusted appropriately for certain types of deals (such as construction).
That's pretty much how the process works....straight, sensible, and to the point. SIMPLE. It is our latest J V Program. It means 100% of your commercial real estate venture can come to fruition with the strategic use of someone else's money. That can be a great advantage. Call us or submit your loan request summary today. We estimate that available funding for this phase of the program will be completely dedicated and assigned to various projects by the end of 2010, so get your deals submitted to Position One promptly while this funding is available.
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Effective business funding begins at Position One