Proof of Funds

To generate an offer, we need to know all of the following:

  1. Which Option listed below is preferred?
  2. Account in name of Client, Investor, or both?
  3. What amount are you requesting?
  4. For what period of time?
  5. Where will the POF reside?
  6. How long does the POF need to be verifiable?
  7. How many verifications are needed?
  8. Do you have a sample POF preferred? (not required)
  9. Do you have a draft letter to go along with the POF? (not required)
  10. When does this need to close? (We routinely take 5-10 business days)

Option #1 : Investor’s Account with no SWIFT

Funds to remain in the bank of this investor, in the investors name only, and can be verified. Funds will not move and there will be no liens allowed with this Option.A one-time $5,000 deposit is due upon acceptance of our Term Sheet (see “Deposit” below).

  1. $2 million to $1 billion for 90 days with unlimited verifications – 6% gross paid into escrow (not including intermediaries) and 2% every month thereafter. Funds will be available for verification 2 days after accepting the Term Sheet.
  2. $2 million to $1 billion for 90 days with one (1) verification – 4% gross paid into escrow (not including intermediaries) and 2% every month thereafter.  Funds will be available for verification 2 days after accepting the Term Sheet.
  3. $2 million to $1 billion for one (1) year with one (1) verification per month – 11% gross paid into escrow (not including any intermediaries)

To add Client’s name to this account costs an additional $10,000 one-time fee.

Option #2 : Client’s Account with No SWIFT

We place the funds in an account with a major bank under the Client’s name in a CD or money market account. The cost will be (for $1 million to $50 million) 10% for the first 60 days and 3% every month after (not including intermediaries). Anything above $50 million, the cost is 7% for the first 60 days and 2% every month thereafter. The maximum POF with this quote is $500 million. Client will also need to deposit the fee and costs upon accepting the Term Sheet. Only after the funds are delivered into the Client’s account are the fee/costs for the “POF” paid out of escrow. A one-time $5,000 deposit is due upon acceptance of our Term Sheet (see “Deposit” below).

Option #3 : Investor or Client’s Account Using SWIFT Confirmation

We offer a bank POF up to $200 million from HSBC (or other major US bank of our choice) in Investor’s name along with the bank to bank SWIFT confirmation for a 5% fee, plus another 2% per month that the account stays open.. Client’s name can be added to the account for a $10,000 one-time fee. This 5% fee is escrowed. There will be a first draw of 1% to set it up, which can take up to one week, and then the 4% balance is paid from escrow upon the completion. If the Client prefers to open this account for one (1) year, the cost will be 12% gross. A one-time $5,000 deposit is due upon acceptance of our Term Sheet (see “Deposit” below)

Option #4 Client’s Hedge Fund Money Market Account

We can also offer this same up to $200 million POF request with a very large easily verifiable U.S. Hedge Fund in a money market account for just a 2.5% fee. The first draw will be 0.5% to set it up, which can take up to one week to complete, and then the 2% balance is paid upon the completion. A one-time $5,000 deposit is due upon acceptance of our Term Sheet (see “Deposit” below)

All accounts with all listed Options are cash backed accounts, which are also verifiable, bank to bank, via SWIFT MT 799 for extra fees listed. Accounts are established within a week and may be extended for consecutive terms. We also have “Blocked & Reserved” SWIFT MT 760 cash accounts. Inquire to use this Option.

 

Deposit

A $5,000 one-time deposit is required for the legal fees to prepare the transaction documents/closing documents, as well as to pay for any transaction costs and filing fees that might be incurred. Wire instructions are to be provided.

 

We prefer NOT to use SWIFTS and other traditional banking transaction procedures which are unnecessarily costly. However, we can use these procedure for additional fees.