-
A Basic Application is sent by the customers or their brokers via the Loan Application Form in our website for a review of their loan applications.
-
Once review is completed, an outline is issued with rates and terms as well an invoice for origination/legalization fees between (£1,100.00 to £5,500.00 and above). A meeting will be setup to review and discuss the customer’s project and aspects of our due diligence process and time line which can be found in our website. Please note that the origination/legalization fees will be paid after the loan approval and signing of the loan contract.
-
Upon receiving the required application fee, the Information Department will issue a Commitment to Fund with Conditions, Documentation Checklist, Source of Funds letter and or other Corporate documents to the customer.
-
A follow up review of the file will take place and if required, a call to further explain our Process and Guidelines. Offers are time sensitive due to the number of requests made during the month.
-
Once the customer has executed the Commitment. JVR will submit the appropriate forms for the client to start the process.
-
The Commitment will have appropriate rate and term as stated in the LOI.
-
During the “Commitment process” time frame a Third-Party Project Valuation and or inspection either online or in person will be issued for processing to the client.
-
Upon due diligence completion ("Commitment process") a final review and report of all documents and information is performed by the Executive Committee of JVR (partners, associates and other principles) usually 7 to 10 business days.
-
Funding of the file request is scheduled within 7 to 10 business days with the structuring of a Private Placement determined by the Executive Committee. All loans are made in the country of origin and servicing is provided by a local financial institution during the course of the loan or otherwise determined by JVR.