Loan Associated
Costs
.png)
What does It cost to Apply for a loan?
Before talking about the cost to apply, the first step is to purchase the application documentation. Fill it out, and apply for the loan. The cost is $500.00 (USD) for the Small Loan Application, and $900.00 (USD) for all other Private or Government Applications.
This is not an upfront fee; it is the cost of the application format that we require to evaluate your application approval.
How long does it take to process a loan application after sending it?
The loan approval takes up to two weeks. Firstly, we carry out basic due diligence on the applicant(s). Then, we may contact the applicant for more details and information required before final approval.
What happens once the application approval is given?
The signatory providing the application will be contacted to review any questions that may have come forward. After this, the applicant will receive a ‘Term Sheet’, outlining and describing the terms and conditions under which we would approve the loan. The term sheet acts as a guideline to bring the loan to reality.
Welcome to Loan Associated Costs
Why should you go for Trust Management Services Inc, a Private Lender?
We do not expose our client list as references to other potential clients because of private lending. We keep our client's business totally confidential and cannot use it as a form of solicitation. Your loan also remains totally confidential unless you reveal your loan details, that's your responsibility. Furthermore, our bank communicates with your collateral issuing bank, via a S.W.I.F.T. We must have the relationship, otherwise the bank could not accept any instruments or deposits on our behalf. This should provide the assurance that the loan structure will be funded under the specified terms and conditions outlined in the Term Sheet provided.
We work through the bank as their clients are just the same as you, as a Client, works with your bank. Do you really think that if we have the ability to receive the collateral contracted to our bank they would just cooperate unknowingly with who we are and what we do? Once we explain everything, this application can forward with success under the procedures and Terms and Conditions outlined in the Term Sheet that we issue once the application is approved. It costs very little to determine that this is legitimate, our bank-to-bank communication tells you that it is reliable, and you will be satisfied that your loan is approved and begins to deliver funds to the project within 45 banking days!
Are there advance fees and costs to initiate the loan?
Yes, there are mentioned fees and costs associated with the loan initiation. These costs to the client are as follows:
1) The cost includes the application documents themselves, the cost for us to provide you a draft format required, accept your application as presented, discuss with you our Client any items requiring clarity on the application forms, review the project presentation provided, carryout initial first stage due diligence and then write back a Term Sheet outlining the funding proposal. The cost is $900.00 (USD), which is payable before we can start any negotiation of a potential transaction.
2) Once the provided TERM SHEET presented to the Client is negotiated and ACCEPTED, then a Commitment Cost will be due and necessary for payment. This cost varies as to the amount of loan requested and the structure of the loan applied for; it serves as your commitment to accept the procedure outlined for a successful close.
NOTE: It must be understood that we involve lawyers, accountants, and our bank relationships to provide a successful transaction between us and the Client. These other parties involved also require a Commitment cost from us to carry their responsibility involvement within the transaction. The Commitment Cost is our assurance that we are working in unison and that both the Client and ourselves are committed to finalizing what the Term Sheet states.
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 a cost for the review to determine the possibility of loan approval. If the institutional Lender would tentatively approves your project for funding, they may impose an additional cost for the issuance of a written Term Sheet to provide a platform for loan negotiations. The institutional Lender would then also reflect a commitment cost 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 charged by the Bank, with whom the applicant may choose to work through. These costs could involve the bank issuing an introductory letter (Ready, Willing, and Able (RWA)) to the Client, usually at a minimum cost, if any cost at all. This letter would usually be part of an overall process for the bank to confirm collateral issuance. If the bank is to forward a S.W.I.F.T., via MT799 format (or equivalent) as a pre-advice message in a bank-to-bank communication, then these S.W.I.F.T. procedures to confirm the RWA letter to our bank would usually be at a cost. The bank cost for sending the confirmation of the collateral, for example, MT760 Standby Letter of Credit (SBLC)), MT760 BLOCKED FUNDS instrument, or equivalent financial instrument, or a bank responsibility on specific collateral, sent via S.W.I.F.T. banking procedures.
The bank will charge an issuance and transmission cost and that is for the Client to negotiate all the referenced bank fees on their own - this is NOT a part in which we are involved. The Client banking arrangement is the sender of the collateral, our Bank is the Receiver, and we are responsible for our costs with our bank and the Client with their bank. Remember that this expense is ONLY applicable when all is finalized between ourselves as a Private Lender and you the Client. Minimal fees are received by Trust Management Services Inc. to reach the approval stage for the Client. All costs applicable are justified as to charges made.
Important Notice
If you require collateral to support your project, we can make arrangements to have supplemental collateral issued for your project. This comes at a cost of a minimum of our equity position in your approved project from ourselves from 30% of the overall project value. Plus, you pay for the issuance and delivery cost to our monetizer for the SBLC supplemental collateral. This is a specially designed structure for acceptable projects. You still have the loan to make repayment to and our equity position negotiated remains even if the loan is repaid. As lenders, we always hold the entire project as the loan collateral; until the loan is repaid.
What is acceptable collateral for a loan?
We accept Cash, Solid Financial Instruments (Standby Letters of Credit, MT760 BLOCKED FUNDS held in your bank account), Government Guarantees, and even some African and other third-world nations are acceptable if the country's 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 the sale of the gold and diamonds if necessary). In-ground assets are also taken as collateral but are more difficult to have accepted when the commodity climate in the markets is too volatile - we then recommend the supplemental collateral approach (read Important Notice Above).