The KGP Funding Process
The KGP Funding Process
- Complete Intake form.
- Sponsor/Principal Signs NDA (if it’s required)
- Sponsor/Principal Send Executive summary, Bio/resume of principal.
- Sponsor/Principal sends Financial Package
a.3–year tax returns
b.Year–to–date Profit/loss statements
c.Personal Financial Statements
d.Rehab Budget
e.Detail use of funds - Revision of executive summary and financial package maybe required before submission. (If good we skip to step 6.)
- We Submit to our lender network
- Interested lenders presents a LOI or MOU.
- Sponsor/Principal Signs off on LOI/MOU and pay any refundable deposits.
- Firm loan commitment is drafted and is agreed upon then signed by the sponsor. (commitment fee maybe required.)
- Underwriting and due diligence begins
- Underwriting and Due Diligence is bad
a. Loan commitment is not honored and any deposits and or commitment fees are refunded.
b.Denial letter/notice is sent.
c.Submit to another interested party. - Underwriting and Due Diligence is good a.Loan commitment is honored, and Funds are deposited!! Sponsor/Principal Invests their money wisely!