BORROWER ENGAGEMENT AGREEMENT(“AGREEMENT”)

SBA FUNDING DEPOT, LLC (“SFD”)

SFD is a financial consulting company (SFD IS NOT A DIRECT LENDER). Our seasoned team of industry professionals will work with you, the Borrower identified below, to obtain lender financing for your purchase, refinance, or new construction.

SFD works with over one hundred financial institutions and direct lenders across the United States to present financial lender proposals for your consideration. SFD maintains and updates lender’s loan criteria to expedite the process of finding appropriate lender(s) for your project.

SFD does not charge any upfront fees and is paid by the lender at a negotiated rate which does not impact a borrower’s cost. A portion of this fee may be shared with an SFD associate or a SFD independent contractor. SFD’s process involves a substantial amount of time to assemble your documentation, engage in conferences with borrowers, and confer with various lenders.

SFD’S OBLIGATIONS:

  • Confer with you on a regular basis prior to your loan being funded;

  • Receive and organize your financial documentation as requested by SFD and/or Lender(s);

  • Search SFD’s database to find in SFD’s sole opinion the appropriate lender(s) for your loan;

  • Provide you one or more loan term sheets for your consideration, SFD’s sole discretion.

  • Disclose to a lender any information provided which SFD believes to be misleading but only after Borrower is given an opportunity to explain or correct the information.

BORROWER’S OBLIGATIONS AND ACKNOWLEDGEMENTS:

  • Timely respond to SFD or Lender’s inquiries and documentation requests;

  • Provide truthful and accurate requested financial documentation;

  • Acknowledgement by signing this document that SFD is not a direct lender and is a financial consulting organization;

  • Acknowledgement that SFD is not a part of the Lender organization and has no legal     relationship to Lender;

  • Acknowledgement by signing this document that there is no fiduciary relationship established between SFD and Borrower;

  • Acknowledgement that after Borrower’s loan is funded (assuming financing is successful) Borrower will communicate regarding its loan only with Lender and not SFD ;

  • Acknowledgement that if Borrower is selling an existing property and planning to implement a 1031 tax-free exchange, is not relying on SFD to advise or implement technicalities required for a successful 1031 transaction;

  • Acknowledgement that SFD cannot and is not guaranteeing that Borrower will be successful in getting an SBA loan or obtain it in time to comply with a 1031 exchange timetable;


INDEMNIFICATION:

SFD desires protection against any personal liability, claim, suit, action, loss, or damage that may result from inaccurate information provided by Borrower from a claim made by a lender or the Small Business Administration or the USDA (if applicable) arising as a result of false or inaccurate information relied on by the Lender provided by Borrower and Borrower agrees to defend and/or pay any damages for or to SDF that may result from such action.

Your signature below is confirmation that you have engaged SFD and agree to the terms stated above and that SFD makes no representation it will be successful in assisting you in getting a timely loan or any loan on terms that are agreeable to you but will utilize its resources to attempt to achieve your financial goals.