Pre-Application Procedures

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1. Overview of Project Finance

Review and generally familiarize yourself with the Project Finance section of our website to get an overview of how project finance works and what you can expect moving forward with financing your project.

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2. Project Documentation

Review the Project Finance Documents section of our website to become familiar with project documentation, the core required documents and what each one accomplishes as it fits into the overall document structure.

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3. Project Finance Procedures

Read and become familiar with these Project Finance Procedures, especially focus on Pre-Application Project Finance Procedures and the Preliminary Assessment Project Finance Procedures. Note any questions you still have.

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4. Project Finance FAQ

Read our Project Finance FAQ, focusing on your outstanding questions you have along with any questions you observe reviewing the FAQ, paying particular attention to the Pre-Application questions.

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5. Project Location

Read our Project Finance Preferred Countries list and make sure your project is on the list of preferred countries.

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6. Project Finance Request Form

Prior to completing and submitting our Project Finance Request Form, read and become familiar with the entire form, paying special attention to the required documents you will attach when submitting your request. Become familiar with the required information and gather the required documents and set them aside so they are ready for you to submit your Request for Project Financing.

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7. Complete Project Finance Request Form

Fill out and submit the Project Finance Request Form, completing the form in its entirety, including all of the documents that must be uploaded with the request. The form includes a brief set of instructions for completing the request.

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8. Project Finance Request Processing

The Project Finance Request Form and the required document attachments will provide us with enough information to expedite the processing of your Project Finance Request and provide you with a preliminary assessment of the viability of your project. However, the information you will have submitted to this point is not sufficient to give final loan approval or issue a commitment for project financing. It will still be necessary for you to complete and submit a full Project Finance Application at a later date after our pre-underwriting is complete. It is not required until you have received a favourable preliminary assessment of the project, the financing. Although this is an extra step in the process, decades of experience have taught us that including the extra pre-underwriting step in these project finance procedures significantly increases the approval rate and in a much shorter time frame.

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Initial Assessment Procedures

1. Confirmation of Submission

After you submit the Project Finance Request you will receive a confirmatory email from Virtual Financial LLC within one hour. The email will provide additional guidance and a timeline for moving forward.

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2. Preliminary Assessment

After you have submitted the Project Finance Request and the required support documents, we will analyse your request and perform a preliminary assessment of the project to determine the eligibility of the project for the requested financing. We will also identify any issues that we believe are obstacles to getting financing approved for the project and will notify you of the findings of our review via email.

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3. Initial Eligibility

With our assessment as the framework for discussion, we will schedule a telephone or in-person conference with the project sponsors to discuss the proposed loan along with issues we identified as potential obstacles to successful financing. We will also provide any recommendations we have to correct any issues that can be corrected and discuss with the sponsors proposed changes that we believe improves the loan package presentation to lenders.

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4. Technical Assistance

We provide technical assistance to help sponsors prepare their projects for financing and implementation, and will help you to properly develop the project documents and to procure any support materials needed to complete a comprehensive analysis and loan package for the project. Furthermore, we will also provide resources that will support the long-term sustainability and profitability of the project.

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5. Project Finance Engagement

At this point, we both decide whether or not to formalize our engagement to arrange the project financing. If we believe the project is eligible for project financing and the requested financing is achievable, we will prepare and deliver an engagement letter which outlines the services we will provide and the fees we will charge to arrange the financing. If you approve of the terms of the engagement letter, are comfortable with our work and confident that we will serve your interests in our efforts to secure the project financing, we will both execute the engagement letter and move forward to secure the financing.

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6. Formal Financing Application

Upon approval and execution of the engagement letter, you will then proceed with completing and submitting the formal project financing application.

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