This letter represents an interest to lend. This Letter does not constitute a binding commitment on the part of the ]lender, its investors and/or its assigns to make a loan. Final approval subject to investor(s)terms&conditions.
Borrower(s): Collateral Address(es):
Loan Amount $ 360,000
Loan Program 30yr/24mo I/O
Interest Rate 13.250%
Lender Origination Points 5.50%
Underwriting $ 995.00
Doc Fee $ 500.00
Flood Cert $ 12.50
Funding Fee $ 250.00
Appraisal Review $ 175.00
Broker Points: 2
CONDITIONS:
Acceptance By Borrower:
_______________________________________
Signature
Acceptance By Broker:
_______________________________________
Signature
Articles of Incorporation for manufacturing Corporation
LOE detailing loan purpose, exit strategy and use of funds signed by borrower
Payoff demand and 24 month VOM from current lender (max 3x30)
PFS and credit report for owner/partner of corporation
Copy of Buy-out agreement
*Environmental report may be required
Acceptable preliminary title report ordered by BCG
Acceptable appraisal ordered from BCG approved appraiser (MAI designation)
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