As part of our consulting services, our team helps selected businesses facilitate loans when required. Our team selects projects based on the quality of the concept proposed in the business plan and the people behind it.
If your project is selected by The Coterie Group, the initial process is as follows:
- Conference call with both parties.
- Letter of Understanding and NDA duly completed.
- High level due diligence and analysis of present and future requirements.
- Determine the funding requirements if needed.
- Connecting your project with the right finance source.
Once the lender has been selected, The Coterie Group will work with you to formulate the required lender documentation. Our experience will assist you in getting the right plan in place. A typical process is as follows:
- You will receive a term sheet from the lender. A term sheet is also known as a discussion paper, or offer to lend. The term sheet is designed as a guide and conditions upon which the lender will fund should all of the conditions be satisfied. Within the term sheet a fee structure shall be established as well as a potential interest rate, and payment plan.
- Upon your acceptance of the term sheet, the due diligence process shall start. If a due diligence fee was established and paid, it will cover items such as; preparation of documents, title searches, requests and so on. Appraisal and legal costs will not typically form part of the due diligence fee.
- Once the due diligence process is completed and satisfactory to the lender, a commitment letter will be drafted and presented to you. The commitment letter will state the terms, rates, fees and other requirements established based on the findings of the due diligence, and, it will have a completion and closing date for funding to occur.
- Once the commitment letter has been issued and approved, your lawyer will most likely take over and close the funding process with the lenders lawyer.
The Coterie Group of consultants may charge an administrative fee, due diligence fee and completion fee. Any costs will be established on a case by case review and acceptance. The Coterie Group has business consultants in both Canada and the United States, as well as parts of Europe.
If your project is in need of assistance, please contact us at: email@example.com