Anatomy of a Business Loan
from the Borrower's Perspective

What You the Borrower Should Expect

1. Expect a high standard of integrity and confidentiality. CII makes the process as painless as possible by proactively working for you. All we ask is your cooperation. Our reputation precedes us. CII recommends you review our complete Internet site. CII is fully licensed by the Florida Division of Banking as a Mortgage Brokerage Business.
2. Included with the Initial Call is a free fact-finding analysis which immediately allows a CII staff loan originator or broker to determine the loan types best suited to your needs.
3. Borrower supplies the CII Staff Member with the following tools:
A. Three to five (or more) of Business financial data and federal tax returns.
B. Current year to date financial statements.
C. List of furniture, fixtures and capital equipment used in the Business with a "value in place" market value approximation for each item. (See Broker for help)
D. List of vehicles and their fair market value.
E. List of any leasehold improvements.
F. List of any leased equipment with transferable value. (See Broker for help)
G. The value of leasehold improvements if any.
H. List of employees, their titles and compensation.
I. List of family members or silent partners.
J. Copy of Business real property lease, or
K. Copy of most recent MAI appraisal of the Business real estate to be acquired or refinanced.
L. Copy of any other documents associated with real property, surveys, plot plans, deeds, tax bills, etc.
M. Copy of any major contracts (customer or supplier) that affect the Business.
N. Copy of any special license or franchise agreements affecting the Business.
O. Relative values of inventory of raw materials and work in progress.
P. Any information that will contribute to the value of your Business or make your Business have a particular advantage over the competition.
4. Borrower completes a one-on-one interview questionnaire, confidentiality agreement, and fee agreement with representatives of CII.
5. Borrower pays to CII 50% of CII’s up-front packaging fee for services. This fee is refundable to Borrower if CII fails to obtain from Lenders a minimum of two prequalification letters or Lender’s bids.
6. The customary minimum packaging fee for CII’s services is $1000.00. The 50% or $500.00 deposit will not be accepted by CII if an initial investigation by CII’s staff indicates that the loan is not feasible or too small in dollar volume to be accepted by most Lenders.
7. CII uses expert packaging and analysis of your business loan request to receive the maximum number of loan quotes from the field of Lenders who will entertain your loan request. Loan quotes include maximum loan amount, fees and charges, rate and terms, and, sometimes, a list of requirements typically found in the Lender’s commitment to loan letter.
8. CII shops the Lenders for the Borrower’s benefit. Licensed mortgage brokerage businesses in the state of Florida maintain a fiduciary relationship with the Borrower, not the Lender. This benefits YOU!
9. Borrower chooses the Lender from among prequalification letters or financing quotes provided by CII.
10. Borrower complies with initial requirements of Lender’s prequalification letter or financing quote. Borrower will make additional payment as requested directly to the Lender of Lender’s out-of-pocket fees. These fees are generally used by the Lender to bind the Lender’s Commitment to Lend Contract with the Borrower.
11. When Borrower accepts Lender’s commitment to lend, CII has earned its full packaging service fee and will be paid in full.
12. Borrower can expect, from the time Borrower signs the Lender’s commitment letter, on average sixty days to close.
13. Borrower and Lender close the loan and Borrower receives the loan proceeds.
14. Borrower chooses to build new building, buy existing building, or expand business and make more money!