Before submitting your project, you must understand that it must be “Shovel Ready”. That means you must own or have options on the land for your project. Licensing and or building permits must be in place. Contractors should be experienced, ready to start and have agreements in place. All time and cost projections should be available. You may have already invested money in your project, with some in reserve, and all that remains is the major funding you need to bring your project to completion.
WHEN YOUR PROJECT IS “SHOVEL READY”
- Client submits the loan application using our online application, must attach the Executive Summary.
- We will ask for specific information if we decide to present it to our Investors.
- Include 5% Completion Fees in the ‘Professional Services’ line on your project.xls.
- Timelines to funding completion can differ depending on your funding process. Allow anywhere between 45 and 120+ days dependent entirely on funding structure, local compliance requirements, size and nature of your project.
Always follow the funder’s processes and protocols. The quickest way to have your file closed is to demand that things are done your way.
Respond promptly to requests for information from the funder. Delay and prevarication will push your deal to the bottom of the processing pipeline.
Gatekeeper vs. Brokers. A sure sign that you’re dealing with a ‘joker broker’ is being asked to agree to pay them 2%, 5% or even more before you even know who the funder is going to be. Funders do not want their money disappearing into broker chains. You need to deal with a genuine gatekeeper, like Alternative Private Capital.
Give files proper titles. Many people send us files with only the title assigned to it by a scanner or some other device, or file names that are only recognizable to those within the client organization. We need to know what each file contains, clearly presented.
You’re not our only customer. No matter how big or special your project, you’re one of hundreds that come to market every week. 95% of them fail for many different reasons. The best guarantee of success is to be fully prepared, leaving nothing to chance and to work within the funders’ processes.
Don’t expect to find your funder on Google or any other search engine. Most serious funders in the alternative capital market represent private money, want their transactions to remain private and prefer to maintain their own privacy. They prefer to intake their deals through their gatekeepers, like Alternative Private Capital for serious transactions, we will eliminate the time-wasting proposals and get the real projects successfully funded.