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STEPS TO PROJECT FUNDING
STEP 1
A. Project Principal(s) completes the Project Summary sheet (form provided).
B. Project Principal(s) prepares an Executive Summary (Please keep to four pages)
C. Project Principal(s) completes and signs NCND (form provided)
D. Project Principal(s) complete and sign Client Information Summary (form provided)
E. Submit the required documents by one of the following ways:
E-mail attachments to: elias@privatemoneysearch.com
Attention: Elias B. Klaich, Managing Member
Mailing Address: Private Money Search, LLC
Attention: Elias B. Klaich
195 Highway 50, Suite 104, P.O. Box 7172-175
Stateline, Nevada 89449.7172
STEP 2
A. Project is reviewed by the Private Money Search, LLC (PMS) and Funding Administrator. You will be notified of one of the following:
1. Project accepted for further review. In depth review process begins.
2. No Decision– additional information is needed from the Project.
3. Project Declined – Review process stops. Decision is final.
STEP 3
A. If the Funding Administrator issues a Project Acceptance for in depth Project review, the Project Principal(s) will complete and submit a Funding Request and Review Package:
1. Write a Request for Project Funding on Principal’s letterhead.
2. Complete the Project Information Form provided and submits the necessary attachments.
3. Sign a Memorandum of Understanding regarding Funding with the Funding Administrator.
4. Project Principals and key project participants sign authorizations for background security checks.
5. The Project is assigned to a PMS Project Review contact person.
6. Allow two to four weeks for review of your Project information (more time may be necessary depending upon the complexity of the Project).
STEP 4
A. After receiving the in depth Project Review information, the Project’s contact Person(s)/Principal(s) will have an in-person Meeting or Conference Call with the Funding Administrator regarding the Project:
1. Additional information may be required in order to proceed.
STEP 5
A. The Funding Administrator, or its representatives, may visit the Project site with Project Principal(s) and or contact person(s).
STEP 6
A. A final meeting may be held with PMS-Funding Administrator and all principals and/or principal representatives.
STEP 7
A. Final review of the Project by The Funding Administrator Project Review Committee, the Funding Administrator Project Review contact person will notify the Project Contact Person of one of the following results:
1. Project approved for funding (see Step 8).
2. Project declined – due diligence process stops here. Declines are final.
STEP 8
A. Project Company notifies PMS in writing that it is ready to proceed with funding
STEP 9
A. The Funding Administrator provides a draft contract to Project Principal(s).
B. New Project entity(s) is formed
STEP 10
A. Equity Investment Agreement is signed between The Funding Administrator and New Project Company.
B. New Project Company signs Equity Share Declaration with Funding Source Representative.
C. New Project Company signs Fee Disclosure Document
D. New Project Company signs Letter of Indemnification
STEP 11
A. The Funding Administrator Establishes Escrow Account.
STEP 12
A. Project Company Deposits Instrument Fee to Escrow Account.
STEP 13
A. The Funding Administrator signs Proof of Funds Allocation agreement with Instrument Provider and gives Notice to Escrow
STEP 14
A. Instrument Provider Establishes Qualified Instrument on behalf of the Project and notifies
The Funding Administrator in writing that Instrument has been posted and accepted by the Funding Source.
B. Funding Source Representative notifies The Funding Administrator in writing that Instrument has been posted and accepted on behalf of the Project.
STEP 15
A. The Funding Administrator releases Escrow Funds to Instrument Provider.
STEP 16
A. Accumulation and Operating Bank accounts are established to accept Project funding. The Funding Administrator is dual signatory on Accumulation Account.
STEP 17
A. First Funding Installment begins within thirty (30) days of Instrument Acceptance by Funding Source and Funds are deposited to Dual Signature Accumulation Account. Project Funding continues monthly for twelve (12) months or until project is funded whichever is less.
STEP 18
A. Funds are released from Accumulation Account to Operations Account per approved funding schedule and dual signatures of The Funding Administrator and Project Company
STEP 19
A. Project Company pays six and a half percent (6.5%) Administration Fee on the monthly amounts received into the Accumulation account within five (5) days of receipt.
STEP 20
A. Funding Administrator pays Consultant’s fees based on approved commissions per the Fee Disclosure document.
STEP 21
A. Project Company builds and operates project per as the funding plan described in the Executive Summary and Agreements with The Funding Administrator.
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Steps To Project Funding
