Accolend 3 Steps Process to Get a
ACCOLEND LOAN FLOW PROCESS
Step 1:- Approval
• When a potential borrower applies for funding approval at Accolend, they go through a series of steps to ensure they receive the desired financing for their investment needs.
• After evaluating whether the project fits our lending criteria, we assess their previous experience, creditworthiness, and financial background.
• All prospective borrowers should be prepared with documentation on the project itself, including scope, location, acquisition price, exit strategy and proof of funds.
• Our application and approval process can be easily defined after a quick conversation with an Accolend salesperson.
ACCOLEND LOAN FLOW PROCESS
Step 2 :- Loan Application Process
Client / Broker Application
Received online
Deal parameters are confirmed, and any additional information is collected.
Upfront reports and fees are collected, and personal due diligence reports are run.
Underwriting works with customer to obtain necessary documents and orders the appraisal & Inspections
Appraisal/inspections are completed, and deal is resized, if necessary, based on valuations.
Pricing is sent to client Client accepts terms
Signed Term Sheet is received by Accolend. Loan moves into Underwriting.
Underwriting collects remaining documents and verifies that all is satisfactory for closing.
Term Sheet is sent to client for signature.
Clear title and insurance coverages are collected and filed, allowing the closing to be scheduled.
ACCOLEND LOAN FLOW PROCESS
Step 3 :- Funding
After all the prospective borrower’s applications and documents have been approved, we move on to the closing and funding process.
Borrowers complete and sign the following documents:-
• Mortgage agreement
• Security agreement
• Personal guarantee
• Investment affidavit
• Assignment of rents & leases.
Once everything is completed to the satisfaction of the underwriter and closing agent
The allocation of funds will be disbursed to the seller of the property or directly to the borrower.
