Loan Process Time Frame Private lending Process

  • A Basic Application is sent by the customer or their broker to the Intake Department at VII for a review of information.

  • Once review is complete, an outline and invoice is issued with rates and terms as well an invoice for application processing ($525.00 to $1,500.00 plus). A conference call can be set to review and discuss the customers project and aspects of our due diligence process and time line which can be found throughout this website.

  • Upon receiving the required application fee, the Information Department will issue a Commitment to Fund with Conditions, Documentation Checklist, Source of Funds letter and or other Corporate documents to the customer.

  • A follow up review of the file will take place and if required, a call to further explain our Process and Guidelines. Offers are time sensitive due to the number of requests made during the month. 

  • Once the customer has executed the Commitment. VII will submit the appropriate forms for the client to start the process.

  • The Commitment will have appropriate rate and term as stated in the LOI.

  • During the “Commitment process” time frame a Third-Party Project Valuation and or inspection either online or in person will be issued for processing to the client. 

  • Upon due diligence completion ("Commitment process") a final review and report of all documents and information is performed by the Executive Committee of VII (partners, associates and other principles) usually 7 to 10 business days.

  • Funding of the file request is scheduled within 7 to 10 business days with the structuring of a Private Placement determined by the Executive Committee. All loans are made in the country of origin and servicing is provided by a local financial institution during the course of the loan or otherwise determined by VII.