AGREEMENT TO PAY SUCCESS FEES TO BUSINESS FINANCE SOLUTIONS LLC

Please download the Agreement document, fill it out with your information, and send it to this email: businessfinancesolutionsinfo@gmail.com

Purpose

This Agreement is prepared for the purpose of ensuring that a small business owner who engages Business Finance Solutions LLC to provide advisory, consulting and placing  the business owner with a lender that may provide business loan to the loan seeker, compensates Business Finance Solutions LLC, (if applicable), the professional fee (Success fee) due the service provider, after services have been performed and loan seeker’s  application has been approved and funded by lender.

 Exemption from Paying Success Fee to Business Finance Solutions LLC

Business Finance Solutions is not a lender and does not provide small business loans.

However, we pre-qualify applicants who have been previously denied business loan by a lender due to unsatisfactory or bad credit or because of insufficient length of  time in business or both, review and submit the pre-application accordingly to any lender within the network of lenders that we have established relationships with, that may likely provide “Loan seeker” with the best rates and terms.

While many of the lenders that we have relationship with pay us referral fees, some others are unable to pay referral fees, but will allow us to pass on the fees to the borrower, if the fee is reasonable.

“Loan seeker” will be informed prior to referring their pre-application to the lender, whether or not he/she will pay Business Finance Solutions LLC success fee, and if so, it will be after the loan has been approved and funded.

In general, a “Loan seeker” will pay Success fee to Business Finance Solutions LLC, only if the lender does not pay. However, a loan seeker is under no obligation to pay Success fee, if the lender agrees to pay Business Finance Solutions LLC.

This AGREEMENT (herein referred to as “the Agreement”) is made and entered into as of this     day of               20____ (“Effective date”), by and between Business Finance Solutions LLC, whose business address is located at 525 Route 73 North Suite  104, Marlton, N.J.08053, here in after referred to as the “Service provider” and represented by Olubunmi Thomas Quarcoo, whose title is, Founder and Managing

Director,

                                                                   AND

______________________________, whose business address is located at ________

________________, here in after, referred to as “Loan Seeker”, and represented by

 ____________________________, whose title is, _________________________

WHEREAS, Business Finance Solutions LLC, is an advisory, consulting, provider of loan sourcing and matching services to small businesses nationwide, that are  unable to secure business loans from banks, either because they are new in business  or have bad credit or a combination of both. 

WHEREAS, Business Finance Solutions LLC is not a direct lender, but facilitates the  loan process through other financial providers and their network of lenders.

WHEREAS, Business Finance Solutions LLC, provides services to small businesses in all industries in the United States, except the industries prohibited by a lender.

Now, in consideration of all the terms and conditions set out hereunder, both parties agree as follows:

Article 1 – Engagement

Upon the effective date of this Agreement, “Loan seeker” is seeking the services of Business Finance Solutions LLC, to assist in finding a lender will the best rate and terms,  That can most likely approve a business loan request and make funds available at the shortest possible time.

Article 2 – Pre-Application

To initiate this process, Business Finance Solutions LLC, will direct “Loan seeker” to  complete the pre-application form on our website and submit it to us for review. Business Finance Solutions will review the pre-application and will advise “Loan Seeker” to make any adjustments , if necessary, prior to its submission .

Article 3 – Subsequent Steps

If a “Loan seeker meets the initial requirements, he/she will be contacted by the lender electronically and will be directed to the lender’s website, to complete a full application  and submit any other documents and /or other information, if necessary.

Article 4 – Decision

“Loan seeker” understands that the decision to approve and lend is made by the lender and not by Business Finance Solutions LLC. Decision-making process takes  few minutes online. If approved, fund will be available in “Loan seeker’s” account within 2-3 days, in most cases. It should be noted that if the lender is SBA, the process takes much longer and requires more documentation and paperwork.

Article 5 – Success Fee

Payment of Success fee is applicable only in the situation described above in  “Exemption from Paying Success Fee to Business Finance Solutions LLC .

If payment of Success Fee is applicable, $399 is due and payable to Business Finance Solutions LLC. Payment will be made on our website through PayPal checkout.

Article 6 – Authorization

By signing this Agreement, “Loan Seeker” also gives Business Finance Solutions LLC, the right to contact the lender on his/her behalf, regarding the application’s approval, rejection, or for any other reason, as the need arises.

Article 7 – Failure to pay Success Fee When Due

Payment of Success Fee is due no later than  business days after borrower’s application has been approved. A grace period of additional 2 business days may be granted.

However, if payment is not received after the grace period has ended, Business Finance Solutions LLC, as service provider, will initiate collection proceedings through a collection

Agency. If this action is taken, the consequences will create a negative impact on borrower’s FICO Score, resulting in wider implications on your ability to obtain further loan in future.

Signed this day of           20____                       Signed this   day of                     20___       

Service Provider                                                            Loan Seeker

Olubunmi T Quarcoo

Founder and Managing Director

Business Finance Solutions LLC

525 Route 73 North, Suite 104

Marlton, N.J.08053

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