MCB Capital has worked hard to try and streamline the our Loan Process and make obtaining a Commercial Real Estate or Business Loan a fast and easy process.
Our Loan Process
The Commercial Loan Application is the first step in the Loan Process. It is important to complete the Loan Application in detail as it tells the story of how much money you’re applying for and what the loan proceeds are being use for.
A Proper Loan Package can make the difference in your Loan Request getting Approved or Denied. MCB Capital understands how to Properly Package your Loan Request which is just one of the reasons having MCB Capital on your side is important. MCB Capital will not submit a Loan Request to a Lending Partner until the Package is complete.
Once we have reviewed a Complete Package and we feel we can be of assistance to you we will issue a Commercial Loan Fee and Engagement Letter.
MCB Capital does not charge any application fees or fees to review a Loan Package. We do have a Processing Fee which is only payable if you accept a Lending Partner Loan Offer. All MCB Capital Fees will be included in our Commercial Fee & Engagement Letter.
Once we have gathered a Full Package we will initially underwrite the file in house to determine which of our Lending Partners is more likely to Approve your Loan Request. Once we make that determination we will Submit our Loan Package.
In most cases MCB Capital will receive a Letter of Interest, Letter of Intent or Term Sheet from our Lending Partner within 24 – 48 hours.
The LOI will spell out the Proposed Loan Terms and estimated costs associated with the Proposed Loan.
Upon your acceptance of the Proposed Loan Terms a deposit for third party reports will be required to the Lender and the Processing Fee to MCB Capital will become due.
Upon your acceptance of the LOI and payments of the Deposit for 3rd Party Reports and MCB Capital’s Processing Fee the Third Party Reports will be ordered. Third Party Reports will include an Appraisal of the Subject Property, Environmental Survey and any other Reports the Lender feels is necessary.
It will normally take 2 – 3 weeks from the date the Reports are ordered for them to be completed and sent back to the Lender for review. While the Reports are outstanding the Lender will be working on the rest of the file making sure we have all documents needed in order to submit to an Underwriter.
When the Third Party Reports are received the whole file is then sent to an Underwriter for review.
Once the Underwriter has reviewed the file and found everything in order the Loan Request will then go to the Loan Committee for voting. Upon obtaining an Approval from the Loan Committee a Loan Commitment will be issued to you.
Once you have accepted the Loan Commitment your file will be sent out for Closing. This will involve ordering a Title search and preparing loan documents. In most cases this is a 7 – 10 day process.
Close your Loan and refer a Customer to MCB Capital.