The steps to Loan Process
Many business owners and individuals have been issued this kind of loans with a success rate. The steps to the successful achievement of this loan are below:
Gather the stock documents you want to use as collateral, then contact Equities First Holdings to initiate the contract and let them know how many loans you need.
The company then initiate your application for the loan and collects your collateral documentation, this is when your loan-to-value ratio and your fixed interest rate is being calculated.
You will be given the terms and conditions to judiciously read through, after which you will be required to sign the stock you’re using as collateral over to Equities First Holdings if you agree with the contract’s terms and conditions therein. The collateral is then transferred into a custodian account after which you can receive your loan.
Both parties are required to concur on the terms of the agreement, the failure of one party to agree may result in termination of the contract. Funds are transferred to the borrower simultaneously with the transfer of stock to be used as collateral by the borrower.
Equities First Holdings will be paid interest as at when due as soon the loan becomes active to the borrower and when the loan and interest have been completely paid, the stock used as collateral is then returned to the borrower.