Loan process
- Have a discussion with a Kingslin representative to discuss viability of the loan.
- Provide us with an executive summary – including budget, pro forma & exit plan.
- If you would like consulting services to help with putting together a full loan packet, we also provide those services for all loan types or structures.
- Meet or schedule a call with a Kingslin representative to discuss viability of the loan.
- If we believe we can help fund your project we take the next steps:
- Potential Borrower to sign a non-circumvent/fee agreement. This authorizes Kingslin to work with you to fund your project with either internal or external funding sources.
- Kingslin to gather information from you, the potential Borrower. The information needed will depend on type of loan. We will provide a list of information required once loan type is determined.
- Once information is collected from you, your Kingslin representative will issue an initial Term Sheet that will outline our purposed terms.
- It is important to understand that as we get further in to the loan process, different information may be needed and terms may be altered to better fit your end goal for funding.
- Once we receive your signed Term Sheet and application fee, we start gathering additional information/documents to assist us in our due diligence process. We will conduct an on-site valuation and complete the due diligence phase.
- After the final evaluation if approved we will issue an Commitment Letter outlining the final terms for the deal.
- This is where all final terms are determined, if satisfied with all terms you will sign the Commitment Letter and return it to your Kingslin representative.
- All loan documents will be drawn and sent to the closing agent or escrow office.
- Finally, a signing appointment will be set by your closing agent or escrow officer.
- All legal and closing costs are paid by the borrower. Closing costs can, in most cases, be rolled into the loan.
- Final Step: Congratulations! Your loan will then record and fund, typically within 24-48 hours after signing.
In most cases this process can be completed in 2-4 weeks, from the time we receive all required documentation. In urgent cases we have funded loans as quickly as 7 days once we have all the documentation.
In most cases this process can be completed in 2-4 weeks, from the time we receive all required documentation. In urgent cases we have funded loans as quickly as 7 days once we have all the documentation.
