LOAN SUBMISSION CHECKLIST: If you have questions, email Admin@GreenFundingPartners.com
Required for Initial Review: A project must be submitted with at least a loan summary, executive summary and financials of some kind. Please do not submit more than one project in one email, projects must be emailed separately with the “Project Name” in subject line of email. Forms: a file must be submitted using one of our Intake Forms, please return the intake form in Microsoft Word format:
1) General / Green Loan Summary / Intake Form
2) In-Ground Mines or Above Ground Asset Loan Intake Form
NCND Non-Circumvention, Non-Disclosure Agreement
Loan Summary Form: Project Name, Brief Project Description, Loan Amount, Type of Loan, concept of proposed project, including number of units, building features, model mix and sales price. A detailed cost breakdown for site improvements, hard construction cost, soft cost, draw schedule. List amount of cash already in project and cash available to put into the project for future.
Over 75% of all commercial loans fail because they are either presented improperly or are lacking the information the funder needs.
We ask that you provide complete and accurate information on all of your application and supporting documentation. Any missing information or misrepresentations only slow down the process of your successful funding.
Executive Summary: and/or Business Plan it must contain information about the following indicating intended use of loan proceeds, intended strategy to repay the loan, experience of Borrower, etc.
a) Loan Amount Requested
b) Bios/Resume of the Principals
c) Cash flow to support the loan till the exit strategy has been accomplished.
d) Capital “net worth and liquidity of the principals”.
e) Collateral “assets to secure the debt.”
After initial review, we will request the remaining documentation if we believe we can fund your loan. Once we have a complete packet it may take up to about 120 days to fund, depending on the project. We appreciate our clients & brokers patience and cooperation as we work through that process as it does take time.
Borrower Information: Personal Financial Statement for Borrower & Key Principals.
Linked Form: Financials, Verifiable Proof of Funds. Past 3 years tax return, financial statements for business entities acting as Borrower (if applicable)
Resume or personal history description for Borrower and Key Principals
Copies of organization documents and any amended documents of the entity that will act as the Borrower.
If a corporation is securing loan, copies of Articles of Incorporation, resume of corporation.
Contracts/Agreements: Copy of purchase contract or provide evidence of ownership. Include any purchase, sale or option contracts/agreements relative to loan as available. Include any service agreements, management agreements, etc. with respect to the operations of the property.
Third Party Reports: Include copies of any existing appraisal, environmental engineering, title and survey reports as available. Color pictures of project. Submission of existing reports may help speed the closing of your transaction. *If an appraisal needs to be done, expect 4-5 weeks for appraisal completion. If an appraisal has been done already but not by a major appraisal company a new one may be needed.
Property Information: Outline of present status of the project regarding the necessary approvals from the governmental authorities, permits, zoning, etc. i. Last two years (plus year to date) property financial/operating statements and tax returns. ii. Detailed Rent Roll iii. Copy of most recent Property Tax Assessment Notice and Property Tax bill iv. Copies of all leases v. Copy of Existing Mortgage documents (Note, Deed of Trust, UCC Filing, etc) vi. Copy of Existing Property Insurance certificate or binder. Current rent rolls / income and expense YTD and last year Inc/exp statement.
Payoff Letters: Include all payoff letters stating mortgage balances owed and/or real estate tax bills substantiating back taxes owed.
Credit / Background authorization: for all Borrowers and Key Principals. Once your application and supporting material is submitted to our underwriting staff, you will be contacted directly by an underwriter for any clarifications or questions that will assist us in providing you with the best financing the market has to offer.
Please email completed forms to Admin@GreenFundingPartners.com If you would like, download the free version of PDF995 to create your own pdf forms - see the following link: http://www.pdf995.com/download.html
As required, Green Funding Partners, LLC will be the only broker of record & pay others through Referral Agreement.
