FUNDING ESTIMATE AGREEMENT
324 Datura Street Ste 210 West Palm Beach, FL 33401
Funding Estimate AgreementEstimate Funding Amount: $10,000-$500,000Issue Date:
Approved by: Yves Corioland
SBL-AGC-RP on October 23, 2020
Client Information:Full Name: Address: Phone Number:
ESTIMATED BUSINESS FUNDING AMOUNT: CONDITIONS/NOTES _____________________________________________________________________________________
Based on your analysis of the credit information provided to us, you qualify for the following funding program:
Unsecured Business Loan with Line of Credit Capability = $10,000 – $500,000_____________________________________________________________________________________
1. Unsecured or Secured Business Loan with line of Credit Capability• Number of Lines Institutional: 4 to 6 separate unsecured lines equating to $10,000 -$500,000• After introductory period, rates will revert to standard bank rates*Based on Credit Worthiness, Debt Ratios and Utilization of current Revolving Lines.
2. Conditions• Removal of Late Payments with Business Services• Keep your remaining business line of credit balances as is or lower and keep credit monitoringsite open for review after conditions have been met.• If unable to meet conditions, please contact your Senior Funding Advisor to discuss thepossibility of a Cash Advance with other Merchant Services Company.
3. Advanced Global Fees• Application and Underwriting Fee: $250.00• If successful approval is above $10,001, Consulting Fee = 5.00% Total Funding Approved.• If successful approval is below $500,000, Consulting Fee = 5.00% Total Funding Approved.• Application UPFRONT FEES.• Funding Approval is defined as any & all amounts approved by any banks, credit unions, otherlending institutions that were initiated, submitted by, referred by, &/or recommended by MelyFunding.• All fees are due upon successful approval of each individual funding approval. LEY Capital,LLC reserves the right to issue invoice to customer at the end of funding process or anything afterindividual approval has been received from bank, credit union or other lending institution.
LEY CAPITAL, LLC, LLC BUSINESS LOAN AGREEMENT
1. FUNDING SERVICE TO BE PROVIDED: Client agrees to provide LEY Capital, LLC“Consultant” the right to place funding applications on their behalf with lending institutionsselected by Consultant. Client authorizes each lending institution (Banks, Lending, CreditUnions etc.) to independently verify provided information including accessing credit reports andscores. Client agrees to provide accurate information in Appendix A bellow for the purpose ofsubmitting applications with lending institutions.
2. CONSIDERATION AND FUNDING CONSULTING FEES: If Successful approval is above$10,001, client agrees to pay Consultant a 5.00% Consulting Fee of Total Funding Approved.Additional Conditions Management Services Fee of $350 shall be due after funding approval ifclient has conditions detailed on page 1 of this agreement. LEY Capital will work with Client tofacilitate a smooth process of meeting the requirements of these conditions.
3. MULTIPLE LENDERS: Client understands that for Consultant to achieve the Funding Estimateon Page 1 of this agreement, applications will be made with multiple lending institutions.
4. PAYMENT TERMS: Consultant shall issue an invoice to Client upon receiving FundingApprovals by lending institutions. Client agrees to pay Consultant upon receipt of invoice.Consultant shall use best efforts to include all funding approvals on one (1) invoice date,however, Consultant reserves the right to issue additional invoices for funding approvals that aredelayed in their approval from lending institution comparative to the majority of the otherFunding Approvals. Funding Approvals may be received via online portal, telephoneconfirmation, email or US Post from financial institutions. A late fee of $350 will be assessed tothe Client for payments not received within a 3-day grace period from issuance of invoice.Additionally, interest will accrue on any past due amounts at the rate equal to the greater of oneand one- and one-half percent (1.5%) per month or the maximum amount permitted by law. Inthe event of default by the Client to pay Consultant’s fee, all reasonable legal fees, collection andenforcement charges to the extent permissible by law, in addition to other amounts due, shall bepayable by Client to Consultant. If payment is not made within 21 days of receipt of invoice duedate, LEY Capital reserves the right to enlist the services of a 3rd party debt collection firm.
To protect our fees and costs until they are paid, you acknowledge that (in addition to and not inplace of any other remedies created by this agreement or by law) our company is entitled to allgeneral, possessory and retaining liens and all equitable and special charging liens on all realproperty and personal property of yours, whether or not the property is secured through the loanwe obtain for you. In the event we are discharged as your account executive before completion ofyour business loan processing, we shall be entitled to obtain an order protecting our right to acharging lien and have the amount of said lien for fees and/or costs. Any mortgage or securityagreement encumbering any property of yours in order to satisfy the payment of our fees and/orcosts shall be additional security to any charging lien that may be asserted by our company anddoes not constitute a waiver of our right to a charging lien. In connection herewith andimmediately upon said non-payment of the aforesaid fees and/or costs, you agree that we may,without liability, file and record a lis pendens against any and all real property solely owned byyou or against your interest in any real property jointly owned by you and others now orhereafter. Said lis pendens shall not be dischargeable until all sums due and owing to ourcompany have been paid in full. All liens shall relate back to the date of this Agreement and shallbe superior in dignity to any other lien subsequent to the date hereof.
IF YOU DEFAULT ON PAYMENT OF BALANCE DUE, YOU SHALL BE RESPONSIBLE FOR ATTORNEY’S FEES, AND COSTS OF PURSUING OR DEFENDING THE LEGAL ACTION WITH THE RATE OF INTEREST AT 1.5% PREJUDGMENT AND POST JUDGMENT INTEREST AT THE LEGAL RATE. YOU AGREE THAT ANY BALANCE DUE IS NOT DISCHARGEABLE IN BANKRUPTCY.
5. PAYMENT LIMITATIONS: Consultant will use best efforts to obtain the funding amountsestimated on Page 1 of this agreement. Client understands that consultant has no control as to theapproval amounts of funding partners. Client agrees that if funding falls below the range of theEstimated Funding Amount, Client shall still be liable for all fees due for actual fundingapprovals. Consultant agrees that if funding approvals are greater than the Consultant providedEstimated Funding Amount, it shall not invoice Client beyond any funding approvals that areabove 20% of the Estimated Funding Amount or the maximum amount requested by client inAppendix A, whichever is greater.
6. ADDITIONAL SERVICES: Consultant agrees to provide Client with its most up to dateinstructions of how to access liquid cash “liquidation instructions” from each line of unsecuredcredit card obtained upon Client’s request. Consultant shall provide best efforts to assist Clientwith any liquidation process. Client agrees LEY Capital has no additional fees for liquidationinstructions, however, individual banks, credit unions and other lending institutions may havetheir own fees for such services. Typical banks fees range from 0-4% one-time fee.
7. ADDITIONAL APPLICATIONS: Client agrees that he/ she shall not place any other applicationsfor any funding that may cause an additional inquiry on Client’s credit report whilst working withConsultant. Client understands that additional inquiries on his/ her credit report decreasesConsultant’s ability to obtain the funding amount specified in this Funding Estimated Agreement.Such applications include, but are not limited to; business loans, car leases, mortgages,refinancing current debt, credit cards. ect.
8. NO RELAXATION, INDULGENCE, WAIVER OR RELEASE: No relaxation, indulgence,waiver, release or concession extended to the Client by the Consultant and no delay or omissionin the enforcement of payment or exercising of any of the Consultant’s rights shall affect theliability of the Client under this agreement.
9. CANCELLATION: If Client wishes to cancel this agreement, Consultant agrees to cease any &all future applications. Client acknowledges that one applications have been submitted. Clientshall be responsible for any ‘Consulting Fees’ due to Consultant for any approved applicationssubmitted prior to Client cancelling this agreement.
10. BINDING AGREEMENT: This agreement shall be binding upon and accrue to the benefit of theparties, their successors and legal representatives. This agreement supersedes any prior written ororal statements by and among the parties hereto pertaining to such subject matter.
11. GOVERNING LAW: This agreement shall be construed, interpreted and governed in accordancewith the laws of the State of Florida and shall any provision of this agreement be judged by anappropriate court of law as invalid, it shall not affect any of the remaining provisions whatsoever.
12. INFORMATION ACCURACY: Client warrants that all information provided in this document iscorrect & accurate to the best knowledge of the Client & ensures that no fraud, deceit or identitytheft was perpetrated within this agreement.
13. INDEMNIFICATION: Client specifically acknowledges that Client is solely responsible forpayment of any debts incurred through the funding obtained by Consultant for Client and waivesany claims against LEY Capital, LLC. Further, Client hereby agree to indemnify, defend andhold LEY Capital, LLC its subsidiaries, and affiliates, directors and each of their successors,licensees, distributors, and assigns and their respective officers, owners, executives, employees,attorneys, and other agents, harmless from and against any and all claims, actions, judgments,damages, losses, penalties, liabilities, costs and expenses of whatever kind and nature imposedon, incurred by, or asserted against us or the foregoing parties arising out of or in connection withthe services provided by Consultant or any breach by Client of any agreement between Client andConsultant.
14. RELEASE OF LIABILITY: LEY Capital, LLC shall not be held liable to the Client or to thirdpersons for any loss or damage occasioned by the use of credit, funds, and/or other financing willnot be used for an improper or illegal purpose and that you enter into this agreement without theintent to utilize LEY Capital, LLC services for an improper or illegal purpose.
15. SUCCESS STORIES: Client agrees that Consultant may from time to time publish Client successstories highlighting funding accomplishments achieved for Clients. Client provides full consentfor Consultant to publish Client funding success story or any testimonials, reviews, quotes etc.
16. CREDIT MONITORING: Client agrees that he/she will provide Consultant with their most up todate copy of their credit monitoring to ensure Consultant has the most up-to-date reports.
17. COMMUNICATION: Client agrees that Consultant may share its data with its affiliates and LEYCapital, LLC and its affiliates and / or partners will communicate with Client via multiplemethods including, but not limited to automatic dialing telephone, text message and email.
18. PURPOSE OF FUNDS: Client confirms that funds applied for by Consultant on behalf of Clientare exclusively for business purposes.
19. APPROVAL AMOUNTS: Client agrees to provide Consultant with any and all approval amounts(from Consultant referred funding lines) that Consultant does not have online or telephonic accessto.
Name of Applicant:
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Signed by Rick Charles
Signed On: May 11, 2020
If you have questions about the contents of this document, you can email the document owner.
Document Name: FUNDING ESTIMATE AGREEMENT
Agree & Sign