The Funding Doctor

Our Process

Enquire

STEP 1

Give us the basic information on what you’re looking for (this takes less than 60 seconds).

Select

STEP 2

Click the “call me” button and we’ll give you a call to discuss the loans that are available to you;

OR

Use the tool to investigate options and pricing on your own.

Decide on one or more loans

Apply

STEP 3

Help us gather the information needed to apply for the loans you’ve selected;

OR

Fill in the required information using the online tool and we’ll cut our fees in half.

Submit

STEP 4

We will submit a credit paper to the selected lenders and obtain indicative offers, which we will communicate to you.  This usually happens within 24 hours.

Sign

STEP 5

Once you’ve agreed to an indicative offer, you sign and email it back to the lender.

The Funding Doctor will stay involved and assist you at every step of the way, but from this point forward you will communicate directly with the lender.

Value

STEP 6

The lender will usually require you to get a new valuation on the collateral.

The lender will contact you to obtain payment for the valuation fee.  A useful rule of thumb for the cost of a valuation is $1,000 per $1M in property value.  Thus, valuation of a $3M property would probably cost around $3,000.

The lender will instruct the valuer, who will contact you to arrange access to the property or other collateral.

From the time the valuation fee is paid, it usually takes about 2 weeks to obtain a valuation report.

Due diligence

STEP 7

The lender will usually start asking more detailed questions about the project, the borrowers, and the collateral securing the deal.

STEP 8

The lender will usually require you to pay legal fees for drafting the loan documents.  Generally, these fees are a few thousand dollars, depending on the size and complexity of the deal.

Once the fees have been paid, the lender will instruct the solicitors to draft the loan documents.

Legals

STEP 9

Once all legal documents have been completed and signed, your loan will be settled and the funds disbursed, in accordance with the loan documents.

Settlement