How Proplend Borrowing Works
Proplend commercial mortgages and bridging loans. Terms offered in days, funding in weeks not months.
Fast, Flexible Funding – Call us on 0203 637 8418
New for 2019 – Proplend is now facilitating loans to personal owners of commercial property, as well as SPVs.
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Borrow Money in 5 Simple Steps
1
Contact us
Email borrower@proplend.com or call us on 0203 637 8418
to speak directly with our Borrower Team. Mon-Fri, 8.30am to 5.30pm
Alternatively, submit an online loan enquiry and we’ll get back to you
2
Indicative offer within days
If you have provided sufficient information, we look to provide an indicative offer the same day.
We now offer funding to personal owners of commercial property as well as corporate vehicles.
3
The due diligence process.
Once we have your commitment to proceed, we will commence the full due diligence, valuation and legal process.
4
Formal offer and ‘In Funding’
When the due diligence and the legals are satisfactorily completed, we will issue our formal offer and on acceptance your loan request will be listed live on the platform.
5
Loan drawdown until repayment
When the security documents are completed the loan will be ready to be drawn down on the agreed date to the Borrower’s solicitors. Monthly interest will then be due on that date going forward until full repayment at the end of term.
1. Contact us
- Email borrower@proplend.com or call us on 0203 637 8418to speak directly with our Borrower Team. Mon-Fri, 8.30am to 5.30pm Alternatively, submit an online loan enquiry and we’ll get back to you
- Tell us about your borrowing requirement: We make decisions based on information and data. The more accurate information you provide, the quicker we can get back to you with a response.
- What information do we require?: Tell us about the loan requirement, the borrower, the property, the tenants, the borrowers business/exit plan and the repayment method.
2. Indicative offer within days
- If you have provided sufficient information, we look to provide an indicative offer the same day. We now offer funding to personal owners of commercial property as well as corporate vehicles.
- Indicative offer: The offer will be made based on the information provided, if anything changes during the due diligence process, we may need to revise that offer.
- Accept the offer: Once you have accepted the offer, then we can move into the full due diligence process which will include full credit searches.
3. The due diligence process.
- Once we have your commitment to proceed, we will commence the full due diligence, valuation and legal process.
- Proplend due diligence: Proplend complete our own internal due diligence process on the transaction. This includes meeting the borrower and visiting the property. We aim to work to meet your timescales.
- Third party professional due diligence: Third party professionals will be instructed to provide a valuation and a legal report. Other reports may be required depending on the nature of the transaction.
4. Formal offer and ‘In Funding’
- When the due diligence and the legals are satisfactorily completed, we will issue our formal offer and on acceptance your loan request will be listed live on the platform.
- ‘In Funding’ on our platform: Once the final offer has been agreed, the loan will be listed live on the platform for funding.
- Fully funded: When the loan has been fully funded, you will be automatically notified. The borrower is required to log in and agree and sign the loan contracts.
5. Loan drawdown until repayment
- When the security documents are completed the loan will be ready to be drawn down on the agreed date to the Borrower’s solicitors. Monthly interest will then be due on that date going forward until full repayment at the end of term.
- Security Documents completed: The loan can be drawn down when the security documentation has been signed and legal sign off provided.
- Service, monitor and repayment: The borrower will make monthly interest payments, Proplend will monitor any loan covenants, carry out annual reviews and manage the repayment process at the end of the loan term.