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FREQUENT QUESTIONS
NOTE: "Financing entity" should be understood as "investor" or "financing entity" depending on the different cases.
- What is a "Financing entity" ?
- And a financer?
- What kind of information does a financing entity require to elaborate an offer including preliminary terms and conditions?
- How long does it take to the financing entity to elaborate its offer, once all preliminary terms and conditions are fulfilled and all the information is received?
- How does it communicate its offer?
- How long does it take to the financing entity to process the application
- How much time does the applicant have to accept or to reject the financing offer?
- How can an offer be accepted?
- Does a warranty have to be evaluated?
- Can a financing entity grant a loan on rented properties?
- Which are the minimum and maximum amount than a financing entity may grant?
- Which is the maximum financing percentage of a project?
- Which kind of projects does the financing entity consider favourable?
- Which currency ddoes the financing entity grant the loan in?
- The interests are fixed or variables ?
- Which is the mean of payment?
- Which is the maximum term for a loan to be paid?
- Does the financing entity grant any right of prepayments?
- Which commissions are requested by the financing entity?
- Once the letter with the offer is sent, how long does the process take up to its conclusion?
- May the financing entity ask for a personal meeting?
- What is a "Financing entity" ?
A financing entity is a prestigious institution, with a relative flexibility in its way of thinking and a wide scope of performance, which considers financing international scale projects.
- And a financer?
A private person using his own capital to finance commercial transactions, businesses and entrepreneurial operations with a risk, or intermediate for those operations that require to be financed by a business bank or other financial entity.
- What kind of information does a financing entity require to elaborate an offer including preliminary terms and conditions?
This point is mentioned at the Funding. Request application form.
- How long does it take to the financing entity to elaborate its offer, once all preliminary terms and conditions are fulfilled and all the information is received?
It usually takes 3 or 4 days after the reception of complete information.
- How does it communicate its offer?
The financing entity sends a letter with the detailed offer with the amount available to finance, the interest rate, terms and conditions associated with the transaction. This offer will depend on the fulfillment of all the diligences required to any applicant to get the funding.
- How long does it take to the financing entity to process the application?
Ussually a financing entity needs about 12 to 21 days to fulfill all steps in this process to provide an effective financing. Nevertheless, this period may vary depending on the complexity of agreements, of the transaction itself or the project location.
- How much time does the applicant have to accept or to reject the financing offer?
From the moment the applicant receives the offer, he has approximately 14 days to accept it or not. As sooner he will confirm his interest, sooner all procedures for his funding will take place.
- How can an offer be accepted?
The original letter with the offer should be signed and sent with the rest of the requested information.
- Does a warranty have to be evaluated?
The financing entity may accept an updated appraisal made by a first class institution or company, with acknowledged prestigious at the country where the project is located. If valuator has to update or increase the appraisal, this will involve an additional cost for the applicant. In the case there is no updated valuation, he should ask for one to a first class national company. The costs of getting an updated valuation will be direct responsibility of the applicant.
- Can a financing entity grant a loan on rented properties?
Yes, but considering that the type of property and the term of the loan have to be no longer than 30 years.
- Which are the minimum and maximum amount than a financing entity may grant?
Minimum amount of funding is 600.000,00 US Dollars. There is no maximum amount to grant.
- Which is the maximum financing percentage of a project?
Once the client ensures the necessary security and warranty of the project, up to the 100% of the requested amount may be granted.
- Which kind of projects does the financing entity consider favourable?
The financing entity will consider the legal status as well as the viability of the presented project, either for sale and purchase of commercial activities or for financing, refinancing or expansion plans of companies.
- Which currency ddoes the financing entity grant the loan in?
In most of the cases, loans are in US Dollars, Euros or other currencies.
- The interests are fixed or variables ?
It depends on the project and on the conditions of the signed agreement.
- Which is the mean of payment?
The mean of payment may be principal capital and interests, or capital and interests in separated periods.
- Which is the maximum term for a loan to be paid?
Terms vary from 5 to 30 years. However, the financing entity ussually grants loans for 10 to 20 years.
- Does the financing entity grant any right of prepayments?
Ussually, the financing entity does not establish any sanction for prepayments or amortizations alter, the first 5 years.
- Which commissions are requested by the financing entity?
After the completion of all stages, and in case of positive conclusion, the client will receive a letter with a formal agreement, where all costs related to the financing entity and to Yorklyn Finance ltd. will be detailed. These costs are just symbolic. The final commission will be paid to Yorklyn Finance ltd. totally or partially, when the funds are deposited in the client account. This commission will be from 5% to 9%.
- Once the letter with the offer is sent, how long does the process take up to its conclusion?
Once the letter with the final agreement is sent, and all the documentation is complete in the financial entity language, the entity asks to be ready to conclude the process in 30 to 45 days. If client would need more time, the financing entity may require a retaining fee for that delay.
- May the financing entity ask for a personal meeting?
Usually it is not necessary. However, the entity reserves the right to ask for a personal visit to the project location if it considers necessary. This cost is the client responsibility.