While most of our loan programs will produce up to 100% of a project’s financing needs, some cash is always required to process the loan until funding, such costs to include Sandberg’s Processing Fee and Lender’s underwriting and due-diligence costs, commitment fee, and legal and closing costs, most of which will be recovered and returned along with the loan proceeds at funding, hence 100% ++ Financing.

Most Lenders require Borrower to furnish a POF (Proof of Funds) of at least 5% of the loan amount in cash to cover those needs which can be a copy of Borrower’s bank statement or simply a letter from Borrower’s CPA or attorney stating that the funds are available from other sources but will be made available as required for processing needs.

Note – if the project property is already owned and other equity investments have already been made in the project, it is possible that less than 5% may be required.