Fees and Underwriting
1. The lender fee is 3% of the total gross loan amount, due upon closing of the loan (at first disbursement). This is paid directly from the Credit Facility, as part of the first disbursement. Your own "Initial Deposit" is NOT included in this calculation.
2. The assigned "Custodian Fee" is $5,000 USD/month Management Fee for the oversight on the loan paid directly to PriceWaterhouse (the Lender does not derive any revenue from this process).
3. Legal/Closing Fees: This cost never exceeds 1% of the loan amount, with the high end (1%) only occurring in very complex transactions where appraisals may be ordered, and multiple lawyers becoming involved. In all cases, itemized closing costs will be provided to the borrower - most of the Loan Agreements are handled under 1/2%, which typically translates to $15,000 USD - $25,000 USD. The closing costs of any loan are the responsibility of the borrower.
4. Our success/consulting fee is 3% of the total gross loan amount, also payable at the time of the first draw.
5. Term sheet issues within 2 weeks from submission if the project is acceptable.
6. Full underwriting to the first draw is approximately 60-90 days.
7. All funds are cleared through the US Federal Reserve Bank, European Central Bank, Bank of England, and the Central Bank of the Eastern Caribbean to guard against money laundering, any connection to terrorism activities, and the U.S. Patriot Act.