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Money Process
The Borrower, usually working through a Broker, must provide a Project
Profile or Executive Summary of the Project for initial review. The
profile may be 1 or 2 pages, and consist of details of the Borrower,
the property or project, the funding requirements, and the exit
strategy. When a prospective Lender is located and interested, the
Borrower must provide in detail, the following:
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Complete
Executive Summary outlining the project and the funding
requirements.
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A "Source and
Use" of funds statement, including cash equity involvement from the
Borrower.
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A detailed
Financial Projection of the Project.
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A detailed
discussion of the Exit Strategy.
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A detailed
discussion of the background and experience of the Borrower.
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Borrower and
Project current Financial Statements and references.
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Area maps and
market information studies.
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Site and
building, plans and costs, including color pictures of project if
available.
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Excerpts from
Appraisals, Environmental studies, Engineering reports, Market or
Feasibility studies where available.
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