Protective Capital Structures Corp. (fka PCSO)

[DEMO P2]

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funding can come after closing

5. Closing

Your loan is now ready to close. Trinity Lending prepares the necessary closing documents and forwards them to the escrow officer. The escrow officer will then contact you and select a time for you to meet in order to sign the documents. After the closing documents have been executed and the closing and funding conditions are met, Trinity Lending releases the funds to escrow in order to record the transaction with the local Recorder's office.

so what we have is a case where HCPC has signed the closing docs and now we are in the "release funds" portion of the deal.

672 million is no joke. may 30th is just fine if not sooner for the funds to arrive

TAKEN FROM THIS

An Overview of the Loan Process
1. Prepare Your Request
A properly documented application makes your loan process go smoothly. The following is a complete list of documents we will require when considering a potential borrower. Should you have questions regarding any of these items, please contact Trinity Lending at [phone]:

1. Executive Summary Describing the project, the borrower and the guarantors (including financials for the borrower and guarantors);2. Property Profile with detailed information on the property location, size, access, access to utilities, etc.;3. Purchase Agreement (if applicable);4. Preliminary Title Report;5. Appraisal (MAI preferred);6. Breakdown of Use of Funds;7. Environmental Phase I and Phase II if required;8. Geotechnical Evaluation;9. Flood Control Plan if property is in a flood zone;10. Documentation of Exit Strategy (how you intend to pay-off this loan);11. Organizational Docs;12. Bank Reference;13. Borrower's Company Brochure and Website (if available);14. Rent Rolls (if applicable); and15. Any other Reports the Borrower is in Possession of Regarding the Property.
2. Meet with Trinity
After you have submitted the above information to Trinity Lending, LLC, you will be contacted in order to schedule a time to meet with an underwriter. The underwriter may ask for additional items that you should have available at that meeting. Often times these meetings will include a physical site inspection.
3. Trinity Approves your Loan
Once your loan application has been received and you have met with an underwriter, we will start the loan approval process immediately. This involves:

· Verifying your background including a criminal background check, Google search engine report and credit history; · Researching the feasibility of your proposed project; · Verifying the property value as compared to the appraisal; and· Based on your specific situation, additional documents or verifications may be required.
To improve your chances of getting a loan approval:

· Respond promptly to any requests for additional documents. This is especially critical if you plan to close by a certain date; · If Trinity's underwriter requests to talk to third parties regarding your project (i.e. the appraiser), notify those parties that we will be calling and inform them that their cooperation with us will help you; · Be understanding of the fact that due to the nature of Trinity's lending, it is difficult to foresee every document that is going to be required in the underwriting process; and· Be ready to close, have the funds that are required from you ready. After the above items are complete, Trinity Lending's Loan Committee will formally approve your loan.
4. Trinity Lending Receives Funds for Your Loan
After Trinity Lending has approved your loan, Trinity Lending will offer participation to individual investors from across the country. Trinity Lending has a database of over 1000 individual investors. Trinity Lending prepares a summary of the salient points of your loan and then sends that summary to its investors via email, fax, regular mail and by posting it on www.trinitylv.com. Trinity Lending's agents then contact these investors, prepare the necessary paperwork for them to sign and collect funds. This process takes from one day to three weeks, depending on the size of the loan, location and complexities involved.
5. Closing
Your loan is now ready to close. Trinity Lending prepares the necessary closing documents and forwards them to the escrow officer. The escrow officer will then contact you and select a time for you to meet in order to sign the documents. After the closing documents have been executed and the closing and funding conditions are met, Trinity Lending releases the funds to escrow in order to record the transaction with the local Recorder's office.