Alliance appreciates the opportunity to assist you with your Gas Station / Convenience Store Financing Request.
In most cases you can expect the entire the Loan Process to take 45 – 60 days with much of that depending on you. You can reduce the time frame by providing all requested documents to Alliance in a timely manner and completing the Application Package in detail.
If you need a quicker closing please tell us that upfront and we will make every effort to accommodate your request.
Our Normal Loan Process is as follows:
The Loan Application is the first step in the Loan Process. It is important to complete the Loan Application in detail.
Alliance requires use of Alliance Loan Forms.
If you need assistance in completing any of our Loan Forms please contact an Alliance Representative at 866.712.4175 we will be more than happy to assist you.
A Proper Loan Package can make the difference in your Loan Request getting Approved or Denied. Alliance understands how to Properly Package your Loan Request which is just one of the reasons having Alliance on your side is important. Alliance will not submit a Loan Request to a Lending Partner until the Package is complete.
Once we have reviewed a Complete Package and we feel we can be of assistance to you we will issue a Commercial Loan Fee and Engagement Letter.
Alliance does not charge any application fees or fees to review a Loan Package. We do have a Processing Fee which is only payable if you accept a Lending Partner Loan Offer. All Alliance Fees will be included in our Commercial Fee & Engagement Letter.
Once we have gathered a Full Package we will initially underwrite the file in house to determine which of our Lending Partners is more likely to Approve your Loan Request. Once we make that determination we will Submit our Loan Package.
In most cases Alliance will receive a Letter of Interest, Letter of Intent or Term Sheet from our Lending Partner within 24 – 48 hours.
The LOI will spell out the Proposed Loan Terms and estimated costs associated with the Proposed Loan.
Upon your acceptance of the Proposed Loan Terms a deposit for third party reports will be required to the Lender and the Processing Fee to Alliance will become due.
Upon your acceptance of the LOI and payments of the Deposit for 3rd Party Reports and Alliance’s Processing Fee the Third Party Reports will be ordered. Third Party Reports will include an Appraisal of the Subject Property, Environmental Survey and any other Reports the Lender feels is necessary.
It will normally take 2 – 3 weeks from the date the Reports are ordered for them to be completed and sent back to the Lender for review. While the Reports are outstanding the Lender will be working on the rest of the file making sure we have all documents needed in order to submit to an Underwriter.
When the Third Party Reports are received the whole file is then sent to an Underwriter for review.
Once the Underwriter has reviewed the file and found everything in order the Loan Request will then go to the Loan Committee for voting. Upon obtaining an Approval from the Loan Committee a Loan Commitment will be issued to you.
Once you have accepted the Loan Commitment your file will be sent out for Closing. This will involve ordering a Title search and preparing loan documents. In most cases this is a 7 – 10 day process.
Close your Loan and refer a Customer to Alliance.
We have worked very hard to try and streamline the Loan Process as much as possible. In order for a smooth transaction we will need your full cooperation as well as access to you when needed.
If you have any additional questions about our Loan Process please Contact Us.