THE PROCESS TO GET THE LOAN
The Borrower needs to sign the NDA and Service agreement with GPF, Fill the Loan Application, provide all the revenant docs that we required.
GPF will apply the loan to The Lender for The Borrower. The Lender will do Due Diligence about project for about 1 week, if all good The Lender will send the 3 first documents:
- The calculation of repayment schedule,
- Customer declaration
- Mandate letter
The Borrower signs, stamp and sends back to GPF, GPF will send to The Lender
The Lender will continue the process in about 2 days and sends The Borrower 3 new documents
- True Copy Letter
- End-Use Letter
The Borrower signs and sends back to GPF, GPF will send to The Lender
The Lender will arrange a call with The Borrower to ask for some basic questions about the project.
After the call the Lender will send the Letter of Approval that will be stated the loan amount, loan term, payment schedule, grace period, interest rate, date to start the payment, date to end the payment.
The borrower signs the Letter of Approval
After The Borrower signs the Loan Agreement, the Escrow Agreement
The borrower makes the payment 1% Administer fee ( security fee).
The Lender will give the receipt of the payment 1% Administrative fee once the payment is done.
The Borrower will receiver the fund in about 5 days.
The success fee 3% or 4% will be deducted from the first disbursement.
The total amount of the loan will be released in about 1 or 2 or 3 transactions base on the need of the project.
The total process will take about 10 days depend on how fast The Borrower can send back the signed documents that The Lender required.
Global Project Finance Limited