The Clybourn Process:
Inquiry: All potential transactions are initially sent through the Credit Box Chicago submission page. Once we have seen the preliminary description of the proposed transaction we get to work.
Lender Review/Rate Quote: Our staff will review the various lending options available to fulfill the desired transaction. Within 24 hours we will provide a preliminary rate quote based upon the lender that is most likely to deliver the best outcome for your transaction.
Application: Once the rate quote has been reviewed and the borrower has indicated an interest to proceed, a commercial application along with the checklist of remaining items will be sent via email to the borrower. Upon receipt of the entire file, a pre-submission review will occur to ensure that the transaction now in application is materially the same as the original submission.
Submisson to Approval: The file will be submitted awaiting either a Letter of Intent or formal commitment letter. At this point, all third party reports such as an appraisal or environmental report (if required) will be commissioned. Once all of the reports are submitted, the lender will finalize underwriting to make a final determination.
Approval and Closing: Each transaction and lender is unique when it comes to handling the actual closing. Clybourn will work hand-in-hand with the lender or attorney to facilitate the completion of all documents needed to close.