Project Funding Procedures

The following Project Funding Procedures are offered as a guide to how The Finance Source work with our clients to arrange the project funding required.. Each procedure must be completed before moving to the next step:

PROCEDURES FOR FUNDING

1. Applicant submits a formal application to The Finance Source in the form of a Project Submission Form (download here) & full documentation as per the Documents Required list.
2. The Finance Source reviews the application.
3. Upon approval, The Finance Source will discuss with the applicant, the options available to fund their specific project.
4. Collateral options are explained to the applicant.
5. Applicant must show evidence of their collateral position in the form of a Bank Statement or a Letter from the applicants Bank, offering assurance of the collateral availability.
6. All Documentation is validated for authenticity.
7. The Finance Source makes a formal application for funding to the relevant funding source.
8. Upon approval of this application, The Finance Source will receive a Term Sheet or Memorandum of Understanding from the funding source.
9. The applicant will be issued with a Letter of Interest from The Finance Source indicating our commitment to proceed with the application and providing the specific 'Terms' of the funding program being offered to the applicant.
10. The Finance Source will issue the applicant our Facilitation Contract for acceptance. Often, the applicant would be asked to visit us here in London to sign Contracts.
11. Payment of Facilitation Fees would now be due.
12. The Finance Source would issue the applicant with the Term Sheet or Memorandum of Understanding from the funding source. The applicant normally has 5 business days to accept the funders initial offer to fund the project.
13. Upon acceptance of the funders offer, the applicant will be asked to place on deposit, the collateral being offered to secure the funding. This will be in whichever form has been previously discussed and agreed.
14. A full Due Diligence is conducted upon the project and the applicant.
15. Further to the Due Diligence, the funder will make their Final Funding Offer to the applicant.
16. Funding begins in accordance to the agreed funding schedule.

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