AIG Ltd. Privacy Policy & Frequently asked questions
__________________________________________________________________________________________________________________________________________________________________
Privacy Policy (Disclosures)
Uniform Commercial Code (UCC) information memo regarding data protection:
Entering into any relationship whatsoever with the AIG - whether in
the pre-contract stage, on an underwriting contractual basis for financing
or for a consultancy service in any capacity whatsoever entails your
agreement to the processing of your Business and/or Personal Data.
This is done in accordance with the terms stipulated in the clause
below entitled "Data protection" pursuant to UCC guidelines
and to AIG Commercial Bancorp conditions regarding same.
Data Protection:
In its capacity, AIG Ltd. Commercial Bancorp, hereinafter referred to as AIG, processes your data for the following purposes: managing contractual relationships, preventing misuse and fraud, drawing up statistics and tests, direct underwriting of proposed debt instruments and/or equity partnerships, on a consultant basis when contracted to in prospecting debt or equity products or of other products underwritten by the Bancorp or by companies
corresponding with the Bancorp.
The Data may be obtained from you or from authorized third parties by any means whatsoever, manual or automated. Data may be obtained in writing, by phone, by television, by Internet, electronically or use of any other technology. If AIG is not provided with the required data, this may result in AIG being unable, or refusing, to enter into a commercial relationship, continue such relationship or undertake any action requested by you, as the case may be. AIG does not divulge Data to third parties other than in the following cases:
1: the Data shall - at your request, on your order or subject to your prior agreement, as the case may be - be transmitted to the recipients specified by you;
2: your Data may be transmitted to authorized third parties with a view to compliance with a statutory or regulatory obligation or by virtue of a legitimate interest;
3: the recipients shall be operators acting on behalf of AIG in a capacity as agent, authorized proxy, sub-contractor, service provider or in any other capacity;
4: the recipients shall be companies, associations or other organizations belonging to the same group as AIG. Provided that it ensures adequate safeguards, AIG may send your Data to recipients outside the United States and or the European Union, regardless as to whether or not the countries concerned have adequate security measures. You are entitled to object to the processing of your Data for the purposes of direct marketing; you are hereby asked whether you wish to take up your right to object to the processing of your Data for such purposes. If so, please specify this directly to AIG in writing. You are entitled to access your Data and have it rectified if necessary.
For further information please forward your inquires to:
AIG Ltd. Commercial Bancorp at: information@aliantltd.com
__________________________________________________________________________________________________________________________________________________________________
Frequently asked Questions:
1. What are the minimum & maximum loan amounts available?
AIG underwrites commercial finance requests, conventional and debenture debt capitalization, ranging from $3,000,000.00 and up for conventional asset based loans and $5,000,000.00 and up for Debenture debt Capital Finance. However, on a case basis, qualified, we may consider commercial loan clients whose financing needs fall below these margins.
2. How do I become a client of AIG?
To become a qualified client of AIG, simply contact us by submitting your proposed finance opportunity through our web portal at information@aliantltd.com and request a no-obligation pre-qualification consultation. We will assess your financing needs by conducting a preliminary review and analysis of your financing request, usually within one to three business days. Once we are satisfied that we can underwrite your loan (and you are comfortable in your decision to work with AIG), we will issue a formal pre-qualification transmittal for your approval. Once executed, we will then begin the necessary steps in order to issue you a formal commitment to underwrite your loan or a corresponding agreement to underwrite your proposed Debenture capital finance request. When we receive the executed agreements from you, we begin underwriting your loan promptly. In most cases the time from pre-qualification to issuance of a formal loan commitment can be as little a 1 week. This is only an estimate. Each case will vary depending on the borrower’s individual needs, qualifications and document requirements for same. NOTE: (Commitment and/or Service fees are due at the time of agreement execution)
3. How does AIG secure its underwriting capital?
a. Conventional Finance: Not unlike the manner in which residential mortgage banking companies purchase their funds from the FED on a wholesale correspondent basis, AIG secures its conventional funds in the same manner from Insurance companies, Pension Funds, and Credit Unions on wholesale floor plans.
b. Debenture Capital Debt Finance: Debenture Debt Capitalization funds originate from qualified private capital markets that makes up a Correspondent Portfolio of funds that AIG underwrites exclusively for under the Debenture Debt Program guidelines. Once underwriting for a proposed loan is completed AIG closes to its Correspondent Portfolios for servicing.
4. What are some of the typical qualifications for a commercial loan?
Typically the evaluation process for pre-qualifying a proposed loan includes (but is not limited to) such things as:
> The loan to value (LTV) ratio on a property or asset. This is determined as a percentage of the appraised value of the property or asset. LTV’s range from 50% to 80% in most cases, but may be adjusted dependent on the experience and financial strength of the borrower.
> The loan to cost ratio (LTC). This will determine the loan cost ceiling and is typically a percentage in the range of 50% to 75%. On a purchase money mortgage the difference between the loan ceiling and the total project cost represents the borrowers ‘equity’ in the project; and this difference is funded by the Borrower or their equity partners.
> For income-producing projects there is also the Income to debt (ITD) ratio requirement. This typically is 1.3% of the total debt service available, post operating expense and before taxes. This amount may be adjusted up or down dependent on the applied risk for a given project.
5. How long does the loan process take from prequalification to closing?
Each proposed loan and each borrower present their own individual circumstances in the underwriting process, but typically commercial loans take anywhere from 30 to 90 days to close (and sometimes longer). AIG targets a 45 to 60 day period from receipt and qualification of all required documentation necessary to complete underwriting. Actual timelines may vary based on documentation origination sources / 3rd party documentation acquisition / receipt for underwriting.
6. What is the Borrowers role in the underwriting process?
As a borrower, your job is to provide the necessary information in a timely manner, so as to maintain an even work flow in the underwriting process. Documentation requirements on your part may include but are not limited to: financial information about the borrower and the guarantors (if applicable), a real estate / project summary, market & feasibility analysis of your project, a project business plan, experience and qualifications of the operating / management team, and other related information as it applies to your particular loan request and business operation / project venue. AIG will assist you in completing the documentation and in some cases supply you with working document templates to assist you in the preparation and completion of your documentation.
7. What are some of the advantages of Using AIG vs. a conventional Lender?
When you use AIG as your commercial Banker, you receive several benefits, including:
> Expert review and analysis of your proposed loan that helps you to properly assess your project and your project financing
> A complete loan pre-qualification Access to document templates to assist you in the underwriting process
> Step-by-step guidance and assistance through all phases of the loan process
> AIG interface with Appraisers, Accountants, and all 3rd party borrower representatives in assistance of accurate and timely completion of respective underwriting documentation
> Quality customer service from start to finish
8. What out of pocket expenses am I responsible for during the loan process?
The Borrower is responsible for all costs during the loan process as they relate to appraisal(s), survey, inspection, accounting, market & feasibility reports, loan points, and all other 3rd party costs as they apply to the loan closing, including lender legal fees.
On refinances the above costs may be included in the loan amount provided they do not over burden the debt amount. These costs are still paid by the borrower during the course of the underwriting process, but are then reimbursed to the borrower as ‘cash out’ at the loan closing.
Additionally, on all loans the borrower is required to pay a standard commitment fee, due at the time of execution of the loan underwriting commitment agreement. This fee is pro-rated as a percentage to the total loan amount (qualified) and credited to the total loan points (conventional debt only), with any balance due at loan close. Once again on refinance loans, this cost may be added to the proposed loan under the applicable burden guidelines and is paid by the borrower at the time he executes the loan commitment; then refunded to him at loan close as 'cash out.'
Disclaimer: All information published on this website subject to change without notice and/or market variations. Please check regularly for the most up-to-date information.
Thank you.
v.1-2024
__________________________________________________________________________________________________________________________________________________________________
Privacy Policy (Disclosures)
Uniform Commercial Code (UCC) information memo regarding data protection:
Entering into any relationship whatsoever with the AIG - whether in
the pre-contract stage, on an underwriting contractual basis for financing
or for a consultancy service in any capacity whatsoever entails your
agreement to the processing of your Business and/or Personal Data.
This is done in accordance with the terms stipulated in the clause
below entitled "Data protection" pursuant to UCC guidelines
and to AIG Commercial Bancorp conditions regarding same.
Data Protection:
In its capacity, AIG Ltd. Commercial Bancorp, hereinafter referred to as AIG, processes your data for the following purposes: managing contractual relationships, preventing misuse and fraud, drawing up statistics and tests, direct underwriting of proposed debt instruments and/or equity partnerships, on a consultant basis when contracted to in prospecting debt or equity products or of other products underwritten by the Bancorp or by companies
corresponding with the Bancorp.
The Data may be obtained from you or from authorized third parties by any means whatsoever, manual or automated. Data may be obtained in writing, by phone, by television, by Internet, electronically or use of any other technology. If AIG is not provided with the required data, this may result in AIG being unable, or refusing, to enter into a commercial relationship, continue such relationship or undertake any action requested by you, as the case may be. AIG does not divulge Data to third parties other than in the following cases:
1: the Data shall - at your request, on your order or subject to your prior agreement, as the case may be - be transmitted to the recipients specified by you;
2: your Data may be transmitted to authorized third parties with a view to compliance with a statutory or regulatory obligation or by virtue of a legitimate interest;
3: the recipients shall be operators acting on behalf of AIG in a capacity as agent, authorized proxy, sub-contractor, service provider or in any other capacity;
4: the recipients shall be companies, associations or other organizations belonging to the same group as AIG. Provided that it ensures adequate safeguards, AIG may send your Data to recipients outside the United States and or the European Union, regardless as to whether or not the countries concerned have adequate security measures. You are entitled to object to the processing of your Data for the purposes of direct marketing; you are hereby asked whether you wish to take up your right to object to the processing of your Data for such purposes. If so, please specify this directly to AIG in writing. You are entitled to access your Data and have it rectified if necessary.
For further information please forward your inquires to:
AIG Ltd. Commercial Bancorp at: information@aliantltd.com
__________________________________________________________________________________________________________________________________________________________________
Frequently asked Questions:
1. What are the minimum & maximum loan amounts available?
AIG underwrites commercial finance requests, conventional and debenture debt capitalization, ranging from $3,000,000.00 and up for conventional asset based loans and $5,000,000.00 and up for Debenture debt Capital Finance. However, on a case basis, qualified, we may consider commercial loan clients whose financing needs fall below these margins.
2. How do I become a client of AIG?
To become a qualified client of AIG, simply contact us by submitting your proposed finance opportunity through our web portal at information@aliantltd.com and request a no-obligation pre-qualification consultation. We will assess your financing needs by conducting a preliminary review and analysis of your financing request, usually within one to three business days. Once we are satisfied that we can underwrite your loan (and you are comfortable in your decision to work with AIG), we will issue a formal pre-qualification transmittal for your approval. Once executed, we will then begin the necessary steps in order to issue you a formal commitment to underwrite your loan or a corresponding agreement to underwrite your proposed Debenture capital finance request. When we receive the executed agreements from you, we begin underwriting your loan promptly. In most cases the time from pre-qualification to issuance of a formal loan commitment can be as little a 1 week. This is only an estimate. Each case will vary depending on the borrower’s individual needs, qualifications and document requirements for same. NOTE: (Commitment and/or Service fees are due at the time of agreement execution)
3. How does AIG secure its underwriting capital?
a. Conventional Finance: Not unlike the manner in which residential mortgage banking companies purchase their funds from the FED on a wholesale correspondent basis, AIG secures its conventional funds in the same manner from Insurance companies, Pension Funds, and Credit Unions on wholesale floor plans.
b. Debenture Capital Debt Finance: Debenture Debt Capitalization funds originate from qualified private capital markets that makes up a Correspondent Portfolio of funds that AIG underwrites exclusively for under the Debenture Debt Program guidelines. Once underwriting for a proposed loan is completed AIG closes to its Correspondent Portfolios for servicing.
4. What are some of the typical qualifications for a commercial loan?
Typically the evaluation process for pre-qualifying a proposed loan includes (but is not limited to) such things as:
> The loan to value (LTV) ratio on a property or asset. This is determined as a percentage of the appraised value of the property or asset. LTV’s range from 50% to 80% in most cases, but may be adjusted dependent on the experience and financial strength of the borrower.
> The loan to cost ratio (LTC). This will determine the loan cost ceiling and is typically a percentage in the range of 50% to 75%. On a purchase money mortgage the difference between the loan ceiling and the total project cost represents the borrowers ‘equity’ in the project; and this difference is funded by the Borrower or their equity partners.
> For income-producing projects there is also the Income to debt (ITD) ratio requirement. This typically is 1.3% of the total debt service available, post operating expense and before taxes. This amount may be adjusted up or down dependent on the applied risk for a given project.
5. How long does the loan process take from prequalification to closing?
Each proposed loan and each borrower present their own individual circumstances in the underwriting process, but typically commercial loans take anywhere from 30 to 90 days to close (and sometimes longer). AIG targets a 45 to 60 day period from receipt and qualification of all required documentation necessary to complete underwriting. Actual timelines may vary based on documentation origination sources / 3rd party documentation acquisition / receipt for underwriting.
6. What is the Borrowers role in the underwriting process?
As a borrower, your job is to provide the necessary information in a timely manner, so as to maintain an even work flow in the underwriting process. Documentation requirements on your part may include but are not limited to: financial information about the borrower and the guarantors (if applicable), a real estate / project summary, market & feasibility analysis of your project, a project business plan, experience and qualifications of the operating / management team, and other related information as it applies to your particular loan request and business operation / project venue. AIG will assist you in completing the documentation and in some cases supply you with working document templates to assist you in the preparation and completion of your documentation.
7. What are some of the advantages of Using AIG vs. a conventional Lender?
When you use AIG as your commercial Banker, you receive several benefits, including:
> Expert review and analysis of your proposed loan that helps you to properly assess your project and your project financing
> A complete loan pre-qualification Access to document templates to assist you in the underwriting process
> Step-by-step guidance and assistance through all phases of the loan process
> AIG interface with Appraisers, Accountants, and all 3rd party borrower representatives in assistance of accurate and timely completion of respective underwriting documentation
> Quality customer service from start to finish
8. What out of pocket expenses am I responsible for during the loan process?
The Borrower is responsible for all costs during the loan process as they relate to appraisal(s), survey, inspection, accounting, market & feasibility reports, loan points, and all other 3rd party costs as they apply to the loan closing, including lender legal fees.
On refinances the above costs may be included in the loan amount provided they do not over burden the debt amount. These costs are still paid by the borrower during the course of the underwriting process, but are then reimbursed to the borrower as ‘cash out’ at the loan closing.
Additionally, on all loans the borrower is required to pay a standard commitment fee, due at the time of execution of the loan underwriting commitment agreement. This fee is pro-rated as a percentage to the total loan amount (qualified) and credited to the total loan points (conventional debt only), with any balance due at loan close. Once again on refinance loans, this cost may be added to the proposed loan under the applicable burden guidelines and is paid by the borrower at the time he executes the loan commitment; then refunded to him at loan close as 'cash out.'
Disclaimer: All information published on this website subject to change without notice and/or market variations. Please check regularly for the most up-to-date information.
Thank you.
v.1-2024