Category #1 - QUESTIONS
CONCERNING A LOAN APPLICATION
What does it cost to
apply for a loan?
The first step is to receive
the application documentation and apply for the loan. The cost associated with this is SEVEN HUNDRED FIFTY
UNITED STATES DOLLARS (US$750.00).
sending in the loan application, how long does it take to process?
loan approval takes up to two weeks. We first carry out basic due diligence on the applicant.
Then we may contact the applicant for more details and information required before final approval.
What happens once the approval of application is given?
The signatory providing the application will be contacted to review any questions that may have come
forward. After this contact you will receive a TERM SHEET describing under which terms and conditions we would approve
the loan. The TERM SHEET becomes the guideline to bring the loan to a reality.
How do I know that this is a real offer, after all Trust Management Services Inc. is a Private Lender?
We do not expose our client list as references to other potential clients because under private lending
we keep our client's business totally confidential, as we do yours too. However, our bank speaks for us
to your bank to assure you that the loan offered will be funded under our procedures. The way this comes
about is discussed under the terms and conditions of the TERM SHEET you would receive. This would be a private bank to bank
initiative that cannot be explained except when the TERM SHEET by the Lender is issued.
Are there advance fees and costs to initiate the loan?
costs to the client are as follows:
1.) The application document
costs for us to review US$750.00
2.) Acceptance of the TERM SHEET
that is presented to you will reflect a Commitment Fee necessary for payment. This fee varies as to amount to the loan
applied for and is your commitment to see the procedure to a successful loan come to a successful close.
Comments: If you would take your project forward to a conventional
institutional Lender they would immediately require you to make payment to review the project, this would not be for approval,
but just review to seek approval. We review and charge only an applicantion fee in the beginning much less than a review
cost you would receive from an institutional Lender. If the institutional Lender would tentatively approve your project
for funding, they would most probably additionally charge to issue a written Term Sheet to provide a platform for loan negotiations.
The institutional Lender would then seek cost through a commitment fee once the Term Sheet was accepted to take care of the
administration costs and make certain you were committed to the project funding offered.
3.) Additional costs would be related to the issuance of the collateral. These
costs would be Bank charges from the Bank with whom the applicant may choose to work through or the insurance company - either
may be applicable. These costs would generally be for the bank to issue an introductory letter (Ready, Willing and Able (RWA))
on your behalf, usually at a minimum cost, if any cost at all.
a SWIFT, via MT799 pre-advise message format or equivalent, bank to bank communication to confirm the RWA letter to our bank
would cost a minimal cost as well.
The bank cost confirming the collateral
guarantee sending via SWIFT banking procedures, such as the sending of a Stand by Letter of Credit (SBLC), but this is applicable
only once all is finalized, and approved as to the funding, then this cost would need to be negotiated with your confirming
bank. Remember that this expense is ONLY applicable when all is finalized between the Private Lender and the Client.
Minimal fees are received by Trust Management Services Inc. to reach the approval stage to
the Client. All costs applicable are justified as to charges made.
is acceptable collateral toward a loan?
We accept Cash, Solid
Financial Instruments (Bank Guarantees and Standby Letters of Credit), Government Guarantees (even from African and other
third world nations) if the country credit rating is reasonable, Gold (if Dore Gold we have to make sure it is registered
and refined), diamonds (rough or polished - we can arrange sale of these diamonds if necessary)
In ground assets are also taken as collateral but
more difficult to have accepted when the commodity climate in the markets is too volatile.
It costs very
little to seek out that this is a real deal, our bank to bank communication tells you that it is very real and you will be
satisfied that your loan is approved and begins to deliver funds to the project within 45 days!