- Purpose
Client engages Broker to assist in the pre-qualification, packaging, and referral of Client’s commercial financing request to appropriate lenders, with the goal of securing commercial funding.
- Broker’s Services
Broker agrees to collect and review Client’s pre-qualification application and supporting documents, evaluate financing needs, present Client’s file to appropriate lenders, and facilitate communication between Client and lenders. Broker is not a lender and does not guarantee loan approval.
- Client’s Responsibilities
Client agrees to provide accurate information, cooperate promptly, authorize Broker to share information with potential lenders, and communicate honestly regarding financial standing.
- Non-Exclusive Engagement
This Agreement is non-exclusive. However, if Client accepts a loan offer introduced through Broker, the compensation terms below apply.
- Document Preparation Fee
Client agrees to pay Broker a document preparation fee of $300, due upon execution of this Agreement. This fee covers the cost of preparing, reviewing, and packaging all required documents to present the loan to lenders. This fee is credited toward the broker fee at closing and is separate from any broker fee due at funding.
- Broker Compensation
If a financing transaction is successfully funded through a lender introduced by Broker, Client agrees to pay Broker a Broker Fee of 1 % of the total funded loan amount or $_________, payable at closing.
- Term and Termination
This Agreement shall commence on the date first written above and continue until financing is completed or either party terminates with 7 days’ notice. Broker is entitled to compensation for transactions initiated during the term.
- Confidentiality
Broker agrees to keep all Client information confidential and share it only with potential lenders for the purpose of financing.
- No Guarantee of Funding
Broker does not guarantee loan approval, specific loan terms, or timelines.
- Governing Law
This Agreement shall be governed by the laws of the State of Texas. Any disputes shall be resolved in the courts of Houston, Texas.
- Entire Agreement
This document contains the entire understanding between the Parties. Modifications must be in writing and signed by both Parties.
- Document Preparation Fee
Client agrees to pay Broker a $300 document preparation fee, due upon execution of this agreement. This fee covers the cost of preparing, reviewing, and packaging all required documents to present the loan to lenders. This fee is credited toward the broker fee at closing and is separate from any broker fee due at funding.
IN WITNESS WHEREOF the Parties have executed this Agreement as of the date written above.