SBA Borrower Engagement Agreement
This is to confirm that you have engaged SBA Lending Depot, LLC (SFD) to find an appropriate bank lender to finance your current financial needs.
This involves a substantial amount of time on our part as well as yours. We have contacts and arrangements with numerous banks. We maintain their lending criteria in our data base and update the banks criteria on a regular basis. We do not lend money, but provide information to help streamline your financing process. After obtaining a loan, all future contact must be with the lender.
We do not charge any upfront fees. We are paid by the lender at a negotiated rate which does not impact a borrowers cost. Therefore we require an exclusive listing for three (3) months from the time you sign this letter. During this time you agree that you will not contact any banks direct or work with any other consultant to get you connected to a bank lender. If you get a loan during this exclusive period from a lender other than one SFD finds for you, for Ten Dollars ($10) and good and valuable consideration, you will pay SFD one (1) % of the loan amount.
You further agree to provide in a timely manner, documentation SFD and the designated lending bank requests.
Your signature on this letter authorizes SFD to send the data and completed forms provided by you direct to the lender SFD designates.