Our procedure is usually dependent upon the nature of the funding application required. We will follow the procedure below to facilitate our appraisal and uderwriting process:
1. In the first instance we require an Executive Summary.
2. After preliminary assessment, if we feel the proposal has merit, we will appeal for more detailed information. This may take either the form of a Business Plan prepared by the client, or the form of a personal interview of the executive managers of the project/the client, though usually the both of them is preferrable. In absence of ready Business Plan the personal meeting is the requirement. Meeting takes place in the VK GROUP office in Stockholm, Sweden.
3. At this stage we will carry out a Business Plan/received information appraisal. If we believe it is a project that fits the lending criteria we will request supporting documentation and a table meeting with the client, should it not happened already. We would also issue our terms of business for completion by the client.
4. We will then require an extensive Business Plan to be prepared to our requirements. The necessary details will be advised at this stage. Should the client experience difficulties with Business Plan’s compilation, an assisstance could be provided. For more information regarding this issue please see Business Projects Funding.
5. At this time the project then proceeds to offer stage upon satisfactory implementation and compliance of the conditions precedent loan documents, security documents and other documents.
6. Once the documents has been accepted and the conditions adhered to, we will commence preparation of a formal package of documents for Credit Committee along with our separate expert summary of the project with recommendations for funding. You are advised to pay attention to two points: A) should a client already has the Business Plan along with all supporting loan documents completely prepared according to all present criteria on the moment of his application for funding then most of the above steps will be omitted and the whole package of the documents will be sent directly to Credit Committe(s); B) a client always has the right to choose from the offered list of available investors/lenders.
7. Upon satisfactory implementation of and confirmation with all conditions conatined in all the related documentation and the positive decision of Credit Committee, the facility will be made available.
To enable us to consider your funding application send your business’s Executive Summary to us via e-mail or contact us directly. |
