In order to start the process for a private placement program (PPP) through Commercial Lending Corporation, there is a fee. This fee is used to underwrite and prepare the SEC Private Placement Memorandum, get it approved, and then use it to present to their accredited lenders and investors. Using a PPP requires a little more time, before it can be closed, and ranges between 45 and 90 days. This is because multiple investors have to be contacted and presented with your Regulation D Offering. If they like the deal, they issue a check or provide funds for the amount they want to invest in your loan.
Further, you need to be aware that certain items are not included in the fee to start the process for obtaining a PPP from Commercial Lending Corporation. These items could include site inspections, appraisals, pre-payment penalties, environmental studies, insurance reviews, and other legal reviews. Putting together a PPP is a complex process which involves being able to be able to have money available to cover your expenses and fees. As a result, you seriously need to evaluate and determine whether this program is ideal for your financial needs.
In the event a PPP is not the type of loan program you want to pursue, that is not an issue, as CLC has access to a wide range of conventional and traditional commercial programs. It is always a good idea to discuss your project or lending needs directly with one of CLC’s experienced underwriters, and take advantage of their knowledge, to determine what programs are ideal.
Tagged: Commercial Lending Corporation