Brightstar Financial has partnered with Allicia Bank to launch a “DIP in a day” event on November 29th.
The event involves an on-site Allica Bank underwriter who will assess the business and semi-business cases submitted that day.
Allica Bank is committed to rendering a decision in principle the same day for any qualification request submitted before noon.
Allica Bank specializes in commercial real estate loans for investment and trade purposes. It accepts most types of goods including warehouses, industrial units, factories and offices, retail units, garages and food stores.
It lends to a range of commercial businesses, including convenience stores, nurseries, hotels and recreation. Maximum LTVs are available up to 70 percent and rates are available from 3.50 percent above the bank base rate.
In order to obtain a PID, brokers will need to provide a range of information, including the name, date of birth and address of applicants; property address, estimated value and type; details of the names of the tenants and the terms of the lease; product details, including the reimbursement profile and how the arrangement fee is to be paid; affordability information such as turnover or rent; and details on other sources of income.