BUSINESS LOAN TRANSACTION PROCEDURE:
Loan Application, Verification and Investigation (KYC)
If you wish to proceed It is required under Hong Kong KYC Laws for the Legal Department for INVESTMENT PLACE LIMITED., Hong Kong to verify your identity, carry out some investigations and confirm your home or office address.
Issuance of LOI & DOA
After the lawyers fully verified and approved the applicant loan documents to eligible and authentic, depending on the nature of business/project and the value of loan required the Lender will issue a signed Deed of Agreement (DOA) to the Borrower. The Borrower must complete, stamp, and return the countersigned DOA.
Payment Invoice and Guarantee
Within one (1) banking day after receiving the countersigned DOA, the Lender will send a Payment Invoice. Additionally, a Payment Refund Guarantee (PRG) which ensures that any delay or default by the Lender or Lessor will result in a refund of any advance payment made by the Borrower, along with a 10% penalty fee, Payment of 40% Bank Transmission Charges the Borrower will make an initial payment of 40% of the Bank Transmission Administrative & Handling charges to lease the BG/SBLC, which will serve as collateral for securing the cash loan via Swift MT103. This payment will be made by direct wire transfer into the Provider’s bank account.
Credit & Disbursement
5.Within Five (5) banking days after confirmation of receipt of payment for 40% of the Bank Transmission, Administrative & Handling charges for the Cash Loan via Swift MT103 in Provider’s nominated bank account.
Final Payment
The Borrower must pay the remaining 60% of the Bank Transmission, Administrative & Handling charges by wire transfer within five (5) banking days upon delivery and confirmation of the cash loan in the Borrower’s nominated bank account.
Loan Terms
Loan Tenure: 2- 5years
Interest Rate: 2% per annum
Repayment: Principal repaid in full at the end of the term