On-Time Closing Guarantee

On-Time Closing Guarantee

Last Updated: January 2025

LoiNow (“LoiNow,” “we,” “our,” “Company”) may offer an On-Time Closing Guarantee (“Guarantee”) for eligible business-purpose loan scenarios. These Terms & Conditions explain how the Guarantee works, what is required from the borrower, and situations where the Guarantee may not apply.

This Guarantee is designed to support transparency, speed, and reliability in the private lending process.
It is not a commitment to lend, nor does it override underwriting requirements.

1. Overview of the Guarantee

If LoiNow provides a written closing timeline for an eligible loan scenario, we will make commercially reasonable efforts to meet the specified closing date—subject to borrower cooperation and third-party performance.

This Guarantee applies only to:

• Business-purpose loans
• Eligible property types
• Loan scenarios where LoiNow explicitly offers the Guarantee in writing

This Guarantee does not apply automatically to all loan inquiries.

2. Borrower Responsibilities (Required for Eligibility)

The Guarantee depends on the borrower fulfilling all required conditions.
The borrower must:

Provide complete and accurate information

Including:

• Entity documents
• Property details
• Renovation or construction budgets
• Purchase contracts (if applicable)
• Insurance evidence
• Required disclosures

Submit all documentation on time

Borrower must respond to all underwriting and document requests within deadlines provided by LoiNow.

Ensure third-party fees are paid promptly

Including:

• Appraisals
• Inspections
• Title fees
• Insurance premiums

Maintain consistent financial condition

Borrower must not experience material adverse changes before closing.

Provide open and timely communication

Borrower must remain reachable by phone and email.

Failure to meet the requirements may void the Guarantee.

3. LoiNow Responsibilities

When the Guarantee is offered, LoiNow will:

• Assign an underwriting team
• Order required reports promptly
• Work with title and escrow providers
• Clear conditions as quickly as possible
• Communicate clearly and frequently
• Make reasonable efforts to meet the quoted closing date

4. Exclusions — When the Guarantee Does Not Apply

The Guarantee does not apply if delays are caused by:

A. Third Parties

• Title companies
• Appraisers
• Insurance carriers
• Borrower’s contractors
• Sellers or buyer-side delays
• County/government offices

B. Borrower-Related Delays

• Missing documentation
• Late responses
• Inaccurate or incomplete information
• Undisclosed debts, liens, or title issues
• Changes in loan structure requested by borrower

C. Property Issues

• Environmental concerns
• Permit-related delays
• Unresolved violations
• Boundary, survey, or easement issues

D. Market or External Events

• Natural disasters
• Power outages
• Cybersecurity incidents
• Market closures
• Government shutdowns

E. Legal or Compliance Issues

• Anti-fraud review delays
• Suspicious activity requiring investigation
• Failure to meet lending eligibility standards

5. Guarantee Limitations

This Guarantee:

• Is not a rate lock
• Does not constitute a commitment to lend
• Does not override underwriting requirements
• Does not guarantee funding approval
• Does not ensure that third parties meet deadlines

LoiNow is not liable for indirect, consequential, or punitive damages arising from delays.

6. How “On-Time Closing” Is Defined

A loan is considered closed “on time” if:

• Final loan documents are ready for signing
• Wired funds are scheduled or released
• Title/escrow acknowledges clear-to-close
• Conditions are satisfied by the date provided

Certain closings may occur 1–2 days after document execution due to escrow processes, and this still qualifies as “on time.”

7. Remedies if LoiNow Fails to Close On Time

If LoiNow fails to meet the guaranteed date and none of the exclusions apply, LoiNow may provide one of the following remedies, at its discretion:

• Administrative fee credit
• Partial credit toward loan costs
• Discounted underwriting fee
• Priority processing for next loan

The remedy is limited solely to the options above.
Borrowers are not entitled to financial damages, lost profits, or compensation beyond these remedies.

8. How to Request a Review

Borrowers may submit a request if they believe the Guarantee was not honored.

To request review:

📧 Loi@LoiNow.com
Subject Line: On-Time Closing Guarantee Review

Requests must be submitted within 7 business days of the missed closing date.

9. Modifications to the Guarantee

LoiNow reserves the right to:

• Modify
• Suspend
• Discontinue

the Guarantee at any time for future transactions and marketing campaigns.

Any modification will not affect scenarios already under review.

10. Contact Information

For questions about the Guarantee or eligibility:

📧 Loi@LoiNow.com
🌐 https://LoiNow.com

Legal Disclaimer

This Guarantee is a courtesy performance program and does not constitute legal, financial, or tax advice. It is not an obligation to lend. All lending remains subject to full underwriting and regulatory compliance.