Access funding via Renting a Rich Uncle

Description

Rent a Rich Uncle is one of our signature programs that provides clients capital that traditional banks nor brokers can provide.

In this program, we purchase courtesy deposits (CDs) from a local bank in exchange for the bank to provide the capital our clients needs.

There are 3 unique selling propositions for this program.

  • We have the ability to fund projects globally by purchasing courtesy deposits from them.
  • Clients can access their funds within 72 hours of us depositing our capital in their bank account (conditions apply).
  • Clients can easily go up to two billion ($2 billion) in this program.

Conditions: 

  1. The bank can not hold our courtesy deposits (CDs) as collateral and client must get the amount of capital that they are looking for.
  2. If interntaionl bank, the international bank must have a corresponding bank in North America that is FDIC insured.
  3. Participating companies must be looking for access to capital between $1,000,000.00 – $2,000,000,000.00 USD.
  4. If the client can not identify a bank that is willig to take our funds to provide us with a courtesy deposit and then use our funds to finance the project, we maybe able to help the client find a bank that will. 

Qualifications

  1. Good credit history.
  2. Solid business plan.
  3. A Financial institution that is ready, willing, and able to complete the transaction on condition that AltfFunds Global purchases courtesy deposits from the institution. 
  4. A Financial institution that has agreed to fund the client the required amount of capital for their project and has agreed not to hold the courtesy deposits nor the cash that ALT Funds Global is putting up at the financial institution as collateral.

Benefits

When a “Rich Uncle” puts up its capital at a financial institution as a deposit (not collateral), the liquidity of the financial institution increases, and often the term sheet the client gets is significantly better compared to not having a rich uncle putting up their capital.

Process

  1. Participating customers must first schedule a consultation call.
  2. Upon confirmation of the call, the client will receive the initial paperwork.
    •  CIS / KYC (Customer information sheet / Know your client).
  3. Following the consultation call, AltFunds Global will offer the following:
    • A signed fee agreement for services rendered.
    • Mutual non-disclosure, non-circumvent agreement (NDA /NCA)
    • Business plan.
    • Lender locator contract.
  4. Our banker(s) will evaluate the business plan to ensure that it is viable.
  5. Upon obtaining a term sheet from a financial institution and having the client sign it, we will allocate the upfront fee for locating a lender to fund the project.

Paperwork

  • CIS / KYC (Customer information sheet / Know your client).
  • Mutual non-disclosure, non-circumvent agreement (NDA /NCA).
  • A signed fee agreement for services rendered.
  • Business plan.
  • Lender locator contract.

Fees

  • 7% on the amount of Courtesy Deposits (CDs) that we need to purchase.
  • $37,500 USD for lender locator services if the client requires us to find the bank.

Commission to brokers

1% of the amount of capital the client is receiving.

Timelines

From the time the client identifies a bank, and the required paperwork has been submitted, and we verify the agreement with the lender, our ability to close the transaction is 72 hours.

Disclaimer

  • All clients are welcome (and are encouraged to) bring any business consultant or legal counsel to any of their meetings with AltFunds Global.
  • The client is fully responsible to cover any bank fees, legal fees, and tax obligations associated with their transaction.
  • Banking days and timelines may fluctuate based on banking and lenders conditions.

Are you ready to take the next step towards achieving your financial requirements?

If so, get started by clicking the button below.