Permanent Take Out

finance_keyPermanent take out Commitments are offered to add financial security to a lender, which may have concerns regarding the exit strategy of a potential borrower. By providing a lender with a firm commitment to pay off that initial lender at a specific future date, the lending institution will be more inclined to provide the loan requested by the client. These ‘commitments’ generally provide for a pay off of the clients initial loan within 18 months to three years, and can be issued for nearly any sort of project. These commitments are in many instances stronger than a an SBLC or BG in that they are not restricted to activation only in instances of a borrower default.

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