The following are the steps a potential borrower must take to submit a loan request to New Boston Capital.
- Potential borrower must read New Boston Capital's Legal Disclaimer. Click here to read the disclaimer.
- Potential borrower must submit a completed initial loan request. Incomplete information will delay or discontinue the review process. To submit an initial loan request click here.
- Once a cursory review has been completed, a principal will contact the potential borrower regarding the decision to further consider the request. Should we decide to proceed, potential borrower must complete a commercial loan application and New Boston Capital will call to schedule an appointment, view the collateral and commence with the due diligence process. To obtain a copy of the commercial loan application, click here.
- Once your request is approved, New Boston Capital will issue a term sheet outlining the terms of the transaction within 24 hours.
- Upon receiving the signed term sheet with deposit, New Boston Capital will then proceed to underwrite and close the loan. Please follow steps 6 and 7 to expedite the process to close the transaction.
- Potential borrower must submit a completed Personal Financial Statement. Incomplete information will delay or discontinue the process. To obtain a copy of the Personal Financial Statement, click here.
- Potential borrower must submit as many application items from the due diligence checklist as possible. To view the checklist, click here. (Please note, the due diligence checklist is a comprehensive list and certain line items may not apply to your specific request.)