By submitting a loan application, our team will have all the background information necessary to proceed and begin working on a solution for your current situation
After getting in touch with the borrower we can walk them through our processes and provide them information regarding funding, timing, and terms
If our group determines that this loan fits our criteria following the initial inquiry, then we will move forward with our loan process
We will order a property appraisal and gather all additional information needed regarding the property in order to complete our underwriting process
Our team will then notify the borrower of our proposed terms
Lastly, the borrower will need to provide Amida with the borrowing company’s documents
Once we have received a signed Letter of Intent from all members of the borrowing company and receipt of a clean title from the title company we will be able to fund the loan
Post underwriting and funding, Amida manages the risks associated with the investment including site visits, conference calls with borrowers to update Amida on project status, tracking the insurance policy on the premise to ensure it does not lapse, checking municipal sites to verify property tax status, and foreclosure proceedings when needed
Amida Lending is not a chartered bank or trust company, or depository institution. Amida Lending is not authorized to accept deposits or trust accounts, nor licensed or regulated by any state or federal banking authority. Amida Lending makes commercial, business purpose loans. Loans are for investment purposes only and not for personal, family, or household use. Loan product availability may be limited in certain states. Nothing contained in this site can be construed to be a commitment to lend. All loans are subject to borrower underwriting, asset underwriting and credit approval, in Amida Lending's sole and absolute discretion. Other restrictions apply. Specific facts and circumstances of each proposed loan affect whether Amida Lending may be authorized to make loan in a particular state.