It’s critical when requesting capital to clearly outline your purpose and related documents to explain your situation. As this helps us and lenders best suit your needs.
The most important documents typically include a Pendrith application form specific to your request. Alongside any balance sheets, profit & loss statement of your company or real estate. Two years of financials really helps us get terms you are looking for .This helps us underwrite and price terms accordingly. The more we know the more likely we are to help you out with several creative set ups. This helps boost your chances of getting funding for your request.
Depending on the documents you have at hand, a wide array of documents may help to boost your chances of securing financing to lease or purchase equipment. As a standard, we require the profit0 and loss statements of the two preceding financial years, and balance sheets showing the true financial position of your company. To further increase your chances of securing financing; however, it is recommended that you also include a list of equipment you want to purchase, or an appraisal and a force liquidated value list. Presenting a copy of the purchase order or the invoice would also help to improve your chances of securing purchase order or invoice financing.
It’s best to assess the financial performance of the property you are looking to refinance or purchase. Statements of profit or loss for the three financial years preceding the date of requesting for the loan would be needed. Your current rent roll and a 12-month trailer are also going to help. Its best to send us back our Pendrith Commercial real estate application filled out as that would help us assess the situation properly.
In order to secure preferred equity or construction debt. We would need a costed-out document that illustrates to use the following. An Internal rate of rate, the multiple on equity, and sales projections. A deck or business plan including drafts, management and company snapshot would help us assess the viability of your project. The more we know about your project and companies’ financial health the better.
This is to help to show us how you plan to minimize risk while implementing your capital requests. The lender or equity partner needs to see exactly how you plan to use the funds and how the lender can benefit from the deal before providing the financing requested.
For equipment financing deals in Canada & United States a processing fee will be required to ensure we do not have clients that are shopping their deal around. Once soft terms are agreed and signed by a client. The fees are based on size and complexity of the transaction.
It is important to note that processing fees charged on equipment financing deals are often not refundable . If nothing can be done for the client, the fee is refunded. Should the client go elsewhere the client forfeits the processing fee. Should the client misrepresent or provide false documents the client will forfeit the processing fee. The processing fee is deducted from the success fee , when the success fee is earned by Pendrith Capital. We expect full transparency from our clients.
If it is found out that the client falsified information in the documents submitted while seeking financing, or if the client decides to take up another offer presented by another introducing firm, then the processing fee becomes non-refundable.
It is important to note that equipment financing fees are not refundable for transactions below $ 2 million. As transactions under $2 million are the most shopped around in the equipment finance industry.
The borrower pays a success fee to the tune of up to 1 to 3% of the total amount loaned to the client, to Pendrith Capital. The client is mandated to sign a legal authorization document making it obligatory for the lender to pay the pre-agreed success fee to Pendrith Capital. It is based on the financing amount finalized. We strongly prefer clients to have the lender pay out success fees to Pendrith.
Pendrith has direct relationships with correspondent and institutional lenders. We do not charge broker fees in several refinance situations for multifamily, office, industrial and mobile home community refinances. It all depends on the terms the clients accept. As some situations we do not charge origination fees. Clients will be informed of that prior to a soft offer provided. Success fees are waived on a case by case basis when we offer CMBS loans.