OUR FUNDING SOLUTIONS
PROJECT FUNDING PROCEDURE
Millennium Consultants can provide funding for viable projects. We have developed a lending process that is applicable to all the Borrowers, irrespective of their project location. This system requires all borrowers to have a Collateral support for their loan, in the form of a Bank Guarantee or Standby letter of Credit (depending upon location), that conforms with the Funders’ requirement. This process is expeditious and productive. The BG / SBLC will act as the primary and the only collateral support for the project until the funding is completed. The minimum value of funding sought under this procedure is United States Dollars TWENTY Million. These Instruments MUST be issued by Top 25 Banks of the world.
In this process it is necessary for the Borrower to sign their acceptance to our "Letter of Offer" in writing and indicate their intent and ability to procure the Collateral Instruments like BG / SBLC. Next we send a Funding Agreement to the borrower, which should be signed and returned. This must be accompanied by a Bank Comfort Letter stating (RWA) Ready, Willing and Able, to produce the required collateral instrument which must be sent to our investor or his representative via Swift Wire Transfer within 3 Banking days of receipt of the Funding Agreement. Funding of the project is done in instalments as per the Use Of Funds Statement that the borrower provides when requested. Funding begins within 30-40 banking days after the receipt of the BG / SBLC.
The process outlined above depicts the procedure to provide long term funding for viable projects. There is no risk to the Borrower, as the borrower's bank holds the funds backing the collateral instrument. The Financial instrument will be released back to the seller's issuing bank, unencumbered, prior to the scheduled maturity date. This Process Provides a 100% LTV Loan.
Borrowers are encouraged to contact us as we are accepting application on viable projects. This is the ONLY process that will be entertained on any Funding application.
All borrowers must submit a fully developed Business Plan. However if you are an established business and need funds for progression, we will accept an Executive Summary along with a Detailed Use of Funds Statement and all the other supporting documents.
Millennium Consultants has developed relationships with some of the Top trading platforms in the world to Monetize Bank Instruments for clients worldwide by arranging the monetization against owned bank instruments such as BG's (Bank Guarantees), SBLC's (Standby Letter of Credit) and other banking and financial instruments. Details of our MONETIZATION PROCEDURE can be seen here.
We are available to advise the potential borrowers on how to procure acceptable financial instruments which can be used as collateral for your loan.