Non Recourse Loan

Recourse and non-recourse loans allow lenders to lay claim to assets if borrowers default on their obligations and fail to repay their debts. Lenders are allowed to take possession of any assets used as collateral to secure these loans. Many loans are taken out with one or more assets of a certain value that the lender can take if the borrower does not fulfill their obligation as outlined in the loan agreement.

The primary difference between the two is that a recourse loan favors the lender, while a non-recourse loan benefits the borrower. So the distinction between recourse loans and non-recourse loans comes into play if money is still owed on the debt after the collateral is sold. Recourse loans allow lenders to go after other assets owned by the borrower if there’s still a balance remaining after the collateral is collected. Lenders of non-recourse loans, on the other hand, are prohibited from going after a borrower’s other assets even if there’s an outstanding balance after the collateral is sold.

OUR PROCEDURE:

The Lender shall carry our Financial, Corporate and Due diligence investigations on the Borrower’s company after the successful investigation and confirmation of the authenticity Borrower’s company/ identification by our legal department, the Lender and Borrower execute, sign and initiate this Deed of Agreement, which thereby automatically becomes a full commercial recourse contract to be lodge by both parties initiation of Swift Transmission.
Within Three (3) Banking Days after the Legal department has successful verified the authenticity of the Borrower’s document, Our financial department shall send a copy of Letter Of Intent to Complete, Sign and Stamp.
Within Two (2) Banking Days after the financial department has received and Confirm the Borrower’s sign and stamp Letter of Intent, Lender will issue a copy of Signed Contract to the Borrower to Complete and stamp then send back Countersigned to the Borrower to complete contract.
Within One (1) Banking day after the Lender receives from the Borrower, the Countersigned Contract, The Lender will send a copy of Advance payment guarantee APG or payment refund guarantee PRG that will be duly be signed and stamped by the lender’s bank which guarantees that any delay or default from the Lender side, on Borrower’s first request to our bank any payment made in advance will be refunded along with 1% penalty fees and the signed and seal Payment Invoice. The Borrower will make only 50% payment of the Bank Transmission, Administrative & Handling charges for the Non-Recourse Loan via Swift MT103 by direct wire transfer into the Lender’s provided Banking .

Within Three (3) banking days after confirmation of receipt of payment for 50% of the Bank Transmission, Administrative & Handling charges for the Non-Recourse Loan via Swift MT103 in Lender’s nominated bank account, the Lender will deliver Non-Recourse Loan (Cash Loan) via Swift MT103 to the Borrower’s Provided Bank Account.

Borrower sends out leasing fees 5% LTV per annul by Swift MT103 to the Lender’s nominated Bank account with the initially 50% balance of Bank Transmission, Administrative & Handling charges by wire transfer within Five (5) Banking days upon delivery and confirmation of the Non-Recourse Loan via Swift MT103 in the Borrower’s nominated Bank account
Any unauthorized calls by any party or its representative lawyers to probes or communication in an improper way to bank(s) in this transaction shall be prohibited and contract terminated.

The 5% LTV will only be paid for 10 years and after which the Loan becomes Non-Recourse. NOTE: You are only to pay in advance 50% of the required processing fees in order to complete and successfully acquire the loan from our financial institution.

1). Guarantee: We guarantee the ultimate successful Funding of your Projects. In the case of fail, we return 100% of the swift Fee Paid with 1% penalty fee.

2). Speed: It takes up to 5-10 business days to fund your Project.

3). Reliability: Trust is important for us. We fund entrepreneurs to run their businesses successfully already since 2012.

4). Experience: Our experienced professionals will consult you about all the steps that should be done after contacting our Legal Department. We have developed and time-tested approaches for all the operations.

5). No risk: The Advance payment guarantee APG or payment refund guarantee PRG will be duly signed and stamped by the Lender’s bank which means the Fee is 100% secured, we are helping our clients get funded with minimum cost.

6). Insurance: Set up insurance right for you and your business and We help client insure their projects, even if their projects fails they have no worries as the insurance company covers the Loss.