| QUESTION: |
| Please describe the
loan application process? |
 |
| ANSWER: |
| After your initial
contact with one of our loan officers, you will be asked to
submit certain materials for our review. These typically include
basic information about your golf facility, along with supporting
financial statements and a brief loan application form. Within
5-10 days after our receipt of those materials, we will either
(a) issue a formal loan proposal or conditional commitment (depending
upon the type of loan you are seeking); (b) send you a detailed
summary describing whatever additional information we require
to make a determination, or (c) reject the loan. We are committed
to giving you a timely, informed response. |
|
| QUESTION: |
| How long does it take
to obtain a loan commitment? |
|
| ANSWER: |
|
If you are seeking
a bridge or mezzanine loan, we can usually issue a formal
loan commitment within 7-10 days. If you are seeking permanent
financing to fund your purchase of a golf facility or to refinance
existing debt, we can usually secure a formal loan commitment
within 20-30 days after your submission of all requested application
materials. |
|
| QUESTION: |
| How long does it take
to close a loan? |
|
| ANSWER: |
|
Bridge loans can generally
close within 30-45 days. Conventional mortgage generally loans
take between 60 and 75 days to close, as long as you and your
professionals (generally your attorney and accountant) deliver
all of the requested materials in a timely manner. Construction
and equity financing are more complicated and can take 90+
days to close. |
|
| QUESTION: |
| Do your loan programs
offer fixed or floating interest rates? |
|
| ANSWER: |
|
Both. Although we
strongly prefer fixed-rate loans, borrowers usually have the
option of proceeding with a floating rate. |
|
| QUESTION: |
| Does Clubhouse Capital
require that its loans be personally guaranteed? |
|
| ANSWER: |
|
Not always. If your
golf course has enjoyed a stable history of generating sufficient
cash flow, your personal guaranty maynot be required (as long
as the loan exceeds $2.0 million). If your guaranty is required,
we can often arrange to release it after 12-24 months, provided
that your golf course has met its financial projections.
|
|
| QUESTION: |
| Does Clubhouse Capital
ever take any equity in the golf courses it finances? |
|
| ANSWER: |
|
No. We are a fee-based
company that, first and foremost, works on behalf of the owner
or borrower. Our goals and philosophies are aimed at helping
golf course owners to increase their equity, not to give it
away. |
|
| QUESTION: |
| If we are seeking
financing from Clubhouse Capital, must we also hire the company
to provide advisory services? |
|
| ANSWER: |
|
No. In fact,
the majority of our business involves providing financing
to golf course owners who do not need or utilize our advisory
services. |
|
| QUESTION: |
| Can we hire Clubhouse
Capital to perform advisory services even if we do not need
any financing? |
|
| ANSWER: |
|
Of
course. Although we often combine advisory services with new
financing, it is not necessary to do so, If you do not need
any new financing, we’ll be the first to tell you so.
|
|
| QUESTION: |
| Does Clubhouse Capital
own, manage or develop golf courses? |
|
| ANSWER: |
|
No.
Although we often provide advice on certain aspects of golf
course management and development, we work in concert with the
golf course owner. We do not own or manage any facilities of
our own, and do not want to own or manage yours. |
|
|
Although we have accounted for many of the
questions frequently asked, this by no means is a complete
list. If you would like us to address a particular question,
please feel free to use our contact
form. |
