Following the initial due diligence, we prepare a non-binding heads of terms. If accepted by the borrower, this is signed and returned with a commitment fee.
A more detailed review of the proposition is conducted to produce a comprehensive credit paper for Maslow’s credit committee’s consideration.
If approved by the Credit Committee, solicitors will then be instructed to prepare a facility letter, which will include a list of all the conditions that need to be satisfied prior to draw down.
Maslow will also commission third party reports from qualified professionals to verify key assumptions made in the initial credit assessment.
Drawdown will take place once all of the assumptions have been verified and all of the conditions of the loan have been satisfied.