3 Simple Steps
Step 1 – Contact ICON by phone, email or this website's contact page.
Start by introducing yourself and your project to us.
You’ll be assigned a Project Acquisition Specialist who will assist you in getting your project on board with ICON.
Your Project Acquisition Specialist (PAS) will provide you with ICON’s Non-Disclosure Non-Circumvent (NDNC) and Project Submission Worksheet (PSW) for you to complete and return.
Your PAS is available to assist you in understanding how to properly complete these documents and will assist you in gathering the info needed for ICON’s Project Review Committee (PRC) to accurately analyze your project and consider issuing a Letter of Interest. In addition to submitting the PSW, it is recommended that you also provide a copy of the project's Executive Summary and Feasibility Study.
Since “you only get one opportunity to make a good first impression”, it’s really important to follow your PAS's coaching and instructions in preparing your project’s PSW. ICON has a time-tested, straight forward process –
Every borrower must work through an assigned ICON Project Acquisition Specialist
Every borrower must sign ICON’s Non-Disclosure, Non-Circumvention (NDNC)
All Projects must be entered into ICON’s Project Submission Worksheet (PSW). This Worksheet is a valuable pre-underwriting tool ICON’s Project Review Committee (PRC) uses to view all prospective projects in a format that best organizes project’s information; allowing for a quick assessment and decision.
If you have a fantastic project, and want to work w/ ICON to have it financed, in order to give it the best chance of being approved by our capital partners is by giving ICON's PRC ALL the right documentation, which includes:
1. Project Submission Worksheet (PSW)
2. Detailed Executive Summary, with Marketing Plan and Exit Strategies
w/ Feasibility Studies / Appraisals / Rental Market Studies
3. Supporting Spreadsheets – Use of Funds Schedule; Revenue and Expenses
4. Monthly Operating Construction Budget w/ Construction Draw Schedule
Step 2 – Discuss Your Project with ICON’s (PRC) Project Review Committee.
If ICON likes the project you will be issued a written LOI, and then upon your request, receive a Fee Agreement.
ICON’s LOI – Fee Agreement are intended to outline ICON’s and Client’s working relationship via a JV partnership and how ICON intends to structure your project’s financing, as well as ICON's compensation for its services.
A conference call will be scheduled for you to speak directly with ICON’s President and Manager for you
to fully present your project to ICON's (PRC) Project Review Committee and have all your questions answered.
From this conference call, you will gain a better understanding of the meaning of ICON’s LOI and Fee Agreement, as well as ICON’s delegated pre-underwriting standards, closing & funding processes, timeline for project funding, ICON’s JV Equity Partnership, Insured Escrow Account, and other pertinent matters.
Step 3 – Move Forward to Complete Project Financing.
Following this review, if Client is satisfied with ICON’s proposed financing solution and wants to move forward with ICON as outlined within the LOI and Fee Agreement, client will provide funds into escrow, submit all of ICON’s requested underwriting documents for ICON’s initial due diligence and for its complete project underwriting and final loan approval.
Upon Client’s execution and return of the LOI and Fee Agreement, Client's acceptance of ICON's future due diligence fee, and ICON’s receipt of its requested underwriting documentation, ICON will provide Client with ICON’s proposed JV Agreement, and Escrow Agreement & Instructions, etc. for Client’s execution.
Once the JV Partnership is formed and escrow is fully established by JV partners, project funding will occur within 90 to 120 days; according to a predetermined construction disbursement schedule.