1 866-956-5554 Email : email@example.com Address : 6905 S. 1300 East, Suite 175, Cottonwood Heights, UT 84047
Step 1 – Contact ICON (phone, email or internet) Start by introducing yourself and your project to us. You’ll be assigned a personal Loan Coordinator who will assist you in getting your project on board with ICON. Your Loan Coordinator (LC) will provide you with ICON’s Non-Compete Non-Disclosure (NCND), Project Submission Worksheet (PSW), and Broker Agreement and Application (if applicable) to complete and return.
Your LC is available to assist you in understanding how to complete these documents and will make time to work with you to gather the info needed for ICON’s Loan Committee to accurately analyze your project and consider issuing a Letter of Interest. Since “you only get one opportunity to make a good first impression”, it’s really important to follow your LCs coaching and instructions in preparing your project’s PSW. ICON has a time-tested, straight forward process –
Step 2 – Discuss Your Project with ICON’s Loan Committee If ICON likes the project you’ll be issued a written LOI – Fee Agreement. ICON’s LOI – Fee Agreement is intended primarily to outline ICON’s and Client’s working relationship via a JV partnership and how ICON intends to structure your project’s financing and the compensation ICON will receive for its services.
A time will be scheduled for you to speak directly with ICON’s Loan Committee to fully present your project and have all your questions answered. From this conference call, you will better understand the meaning of ICON’s LOI – Fee Agreement, as well as ICON’s underwriting standards, closing & funding processes, timeline for project funding, ICON’s JV Equity Partnership, Escrow Account, and other pertinent matters.
Step 3 –Move Forward to Complete Project Financing Following this review, if CLIENT is satisfied with ICON’s proposed financing solution and wants to move forward with ICON as outlined within your LOI, then you’ll sign and return ICON’s LOI – Fee Agreement and begin gathering and submitting ICON’s requested underwriting documents for ICON’s initial due diligence, complete project underwriting and final loan approval.
From there, upon CLIENT’s execution and return of the LOI – Fee Agreement and ICON’s requested underwriting documentation, ICON will immediately provide CLIENT with ICON’s proposed JV Agreement, Escrow Agreement & Instructions, etc. for CLIENT’s execution. Once the JV Partnership is formed and escrow is fully established by JV partners, project funding will occur within 45 to 90 days; according to a predetermined budget / disbursement schedule.