A Clear, Responsive Process
Broadmark is a balance sheet lender. This means we only invest our own capital and are accountable to our investment decisions. We always seek to be aligned with our clients and the success of each investment. We work earnestly to gear both our pre- and post-funding processes to help our clients translate and accelerate their opportunities into successes.
1 — Discovery
Discover how our investment options can accelerate your business plans by submitting a term sheet request to a Market Expert, where you can then discuss the opportunity in greater detail.
2— Letter of Intent
Upon completion of the Discovery phase, the opportunity will be reviewed in greater detail by the Broadmark team, usually with further Q&A. Broadmark will issue a non-binding Letter of Intent upon the successful conclusion of this phase, outlining the goals and expectations for the proposed investment. This phase can move quickly, sometimes within a week or so.
3 — Diligence
Upon mutual acceptance of a non-binding LOI, Broadmark will receive a deposit for due diligence and third-party costs, such as appraisals. Deposits are designed to cover costs, not generate profits. Nobody on either side wants to spend time or money on an investment opportunity that won't close. The time frames for this phase can vary materially depending upon appraiser requirements, borrower responsiveness, inspection requirements, and transaction complexity. Generally, Broadmark seeks to complete this phase in 20 to 45 days.
4 — Approval
Once the Diligence phase is completed, final investment recommendations will be sent to Broadmark's Investment Committee for review and approval. Broadmark's Investment Committee tries to review transactions in advance of final review, on a pre-screen basis, to help inform the parties around key factors that will be critical for approval. This Approval phase moves quickly, and usually within a week of completing the Diligence phase.
5 — Closing
Upon successful completion of the Approval phase, Broadmark will close and fund the investment pursuant to its document, title, escrow, insurance, and legal requirements. This Closing phase can occur very quickly following Approvals, and has been as fast as one day.
Smart. Reliable. Rapid.
Your trusted partner in real estate finance.