1. Limited Agency Engagement: The Borrowers have engaged the Broker as their exclusive loan
broker agent to obtain financing for their business from a legitimate lender. The Broker is
authorized and instructed to prepare and present the Borrower's loan package, which includes
confidential financial information, to prospective commercial loan lenders in order to secure loan
approval and successfully fund the business.
2. Borrowers Covenants: The Borrowers agree to promptly provide any requested information, tax
returns, contracts, or documentation to the Broker or prospective lender within 3-5 banking days of each request.
3. Broker Promises Due Diligence & Confidentiality: The Broker will work diligently to secure a loan
and/or equity approval within 90 days after the Borrower provides all required information and
documents. It typically takes an Investor and banks 30 to 60 days to process an equity and/or loan application. The interest rate for loans will be determined by factors like cash flow, business
condition, appraisal value, and the Borrower's financial strength. A common interest rate is
Prime+2.75%, which is subject to change. The Broker is committed to maintaining the
confidentiality of personal and financial information and will only share it with potential lenders.
4. Best Efforts Basis: The Broker is representing the Borrowers on a best-efforts basis, meaning they cannot guarantee the successful placement of any loan. The Borrowers agree to pay a success fee to the Broker based on the loan amount: 2% for loans up to $1,000,000, and 1% for loans over $1,000,001. The success fee is due and payable on the next day of closing, after the loan is funded, and must be paid by cashier check or wire transfer to the Broker's bank account. Bank: TRUIST. Beneficiary: The Greatness Within, Inc. DBA Suosven. Account # 0000246716900 Routing #: 263191387
5. Non-Circumvention: The Borrowers agree not to seek a loan directly or indirectly from the lenders to whom the Broker has submitted the loan application, unless it is done exclusively through the Broker as their agent. This agreement is in effect for a period of 24 months. If the Borrowers violate this agreement, they will be responsible for paying the Broker a loan brokerage fee of 1% on anyfunded loan amount.
6. Disputes: Any suit between the Client and the Broker must be brought in the County of Collier and State of Florida, and both parties hereby consent to the personal jurisdiction in the State of Florida. In the event that the Broker needs to enforce this Agreement, they shall be entitled to recover their costs of collection, including court costs, witness fees, and reasonable attorney's fees.
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