Loan Size:

USA & International $10,000,000 no maximum.

Project Types:

Acquisition, Development, Construction, Oil & Gas, Mining, Infrastructure, Films

Requirements:

Client deposits (or has his bridge lender deposit) 10% of the loan amount into an escrow account at Bank of America.  Funds will be held for the term of the loan or 12 months, whichever is the sooner.  Loan proceeds will be paid out to client through construction draws (for construction / development projects), Max 70% of Final Loan to Value.  
 

Construction/ Developments:

Up to 100% loan to cost.

Loan Rates:

90 Day LIBOR + 1% to 2.5%  

Bridge Lender Rates:

12% if you need to finance your 10% project reserve deposit

Term:

1 to 5 years with no prepayment penalties  
Lender discretion to convert to 20 year term loan on completion of development/construction period at similar loan rates.

Step 1

Borrower provides complete loan package for underwriting ( see checklist on next page)

Step 2

Documents are inspected and evaluated to ensure the project is acceptable.

Step 3

Once all required due diligence documents are received underwriting will commence.

Step 4

.If underwriting approves the project a Conditional Letter Of Commitment (CLOC) is issued to the client.

Step 5

Borrower accepts the CLOC and (If needed, the bridge lender issues an approval for loan and) transfers the 10% deposit to the BOA Escrow Account.  

Step 6

Final commitment with AIA approved constructions draw down schedule (Construction & development applications) is issued to the client within 24 to 48 hours.

Step 7

Loan Closing is scheduled, and total loan amount scheduled to be ready for draw down within 30 to 45 days.

On Application

USD $600 per Borrower to cover cost of various FBI and Interpol background checks.

On acceptance of CLOC

Up to USD15,000 Earnest deposit required (Refundable on closing)

On Closing

OLC Success Fee of 3% which includes a 1% payable to the Hedge Fund Broker