DUBAI Portfolio Funding  Program

International and Domestic Projects to 100%: This Dubai leverage fund is from $2-5M minimum to no practical upper limit, prefer RE but will consider any project that provides them with viable collateral. Must have about 10% cash to put into this fund as a security deposit. This deposit is guaranteed and returned upon conclusion.  Associates underwrite and are the exclusive agents for this fund. No other lender points or fees. LOAN DISBURSEMENTS ARE ON A 3 YEAR SCHEDULE, GREAT FOR DEVELOPMENTS. Single Lump sum disbursement is available for purchases.

 Interest Rate LIBOR + 2%

DUBAI

PORTFOLIO FUNDING PROGRAM

A 32 year old Dubai company with roots in Greece and extensive holdings throughout the region and Africa is using its assets to provide funding for international projects. The total funding amounts in all phases are $2 million minimum to no practical limit.

 THE PROCESS:

  1. GTS receives the initial relevant documentation from the project owner for the said project and issues a conditional approval.  
  1. The applicant signs the conditional approval as acceptance of the loan terms. The project owner(s) transfers the processing fee to the fund to pay for account and legal fees and they appoint a legal signatory for the loan.  
  1. The applicant is sent a request for a complete document package. The project manager and signatory are to provide color copies of their passports along with the documents requested.  
  1. The project owner must have available a minimum of 10% of the total project funding amount including all fees and interest reserve amounts. This amount will be used as a cash security deposit and initial funding catalyst to be leveraged using the portfolio assets in a single or series of funding lengths to provide for the disbursements which will be guaranteed at close. Proof of these security deposit funds must be submitted to the fund along with the document package.  
  1. Site visit necessity is determined and completed.
  1. The security deposit is deposited with GTS. It is 100% guaranteed to the applicant and pays off the final 10% of the loan repayment.
  1. Funds become available within 30 business days for a purchase or refinance and within 45 business days for a development project. Project collateral is encumbered. Draws will be made according to the schedule provided. Scheduled disbursements are further released in traunches according to project progress and requirements if construction in nature.

 PROGRAM DETAILS:

The Fund will initiate the financing from its own portfolio and own collateral in addition to the security deposit for the benefit of the applicant. This overcomes the problem of finding additional collateral or equity for higher LTV projects.

LTV’s up to 100% plus payment reserves and all costs will be considered.  

The deposit is to be considered a security deposit in the event of default of the loan repayment and must be placed into the portfolio account. The presence of these funds and the staggered disbursements serve to keep the LTV’s and risk low, allowing great flexibility in providing funding and great terms to the applicant. This principal sum will be released back to the borrower at the end of the finance plan in 10 years or sooner when the loan is paid in full.

The interest rate is based upon LIBOR plus 2% for the strongest loans, rounded up. The current loan rate is 5% for standard loans, higher for above average risk. Typical payments are fully amortized over 10 years, due bi-monthly on the amount disbursed to date, which starts out slow in most construction loans that will have a disbursement schedule. The loan payments can be withheld from disbursements upon request and the overall funding amount increased to include funds for the first few years of payments.

  There are no lender points and no fees other than those shown. There will be moderate ongoing release inspection expenses for the loan traunches when funding developments.

Proof of funds will not be provided since it is not relevant to this program as the actual funds being disbursed comes from highly qualified and verifiable banks who loan money to the Funder against their portfolio in the traunches specified in the documentation. As a private company with many projects in negotiation at all times they elect not to disclose information that is not directly relevant to the funding process, which has all of the proper guarantees in place.

Property second lien positions will be considered as long as the completed LTV is no higher than 75%. Projects other than real estate will be considered.

TO GET STARTED:

To begin this process please send your executive summary and financing request to the direct fund underwriters VIA:

 

Offshore Loan Centre

office@olcfinance.com


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