BCLOC

Independent Capital Credit Corp.

The BCLOC is a credit facility for newly created corporations for the purpose of acquiring revenue generating real property assets. Once the assets have been identified, each project is initially underwritten by Access Channel © software, which uses the projected cash flow to determine the project's ability to support the debt service. Once the assets are qualified, the facility begins with the creation of a new Special Limited Purpose Corporation ("SLPC" or "Corporation") which is placed in a trust and under the control of a trustee for the specific purpose of acquiring and owning the revenue generating real property assets.

The Corporation then issues corporate debt for sale. The corporate debt is used as collateral for bonds that are sold in the capital markets. The proceeds from the sale of the bonds fund the corporation for the specific purpose of acquiring and operating the revenue generating real property assets. A portion of the proceeds from the sale of the bonds is used to fund a Credit Enhancement Account ("CEA"). The CEA serves as a reserve account that pays principal and interest on the corporate debt if and when the corporation cannot.

The bonds are insured and protected from default by a financial guaranty rated "AAA" that guarantees both the Corporation's payment of principal and interest on its corporate debt and the investor's repayment of principal and interest from his/her/its investment in the bonds.

The minimum loan request amount is $10 million.

Application Instructions

To submit a project, please download the "Commercial Property Borrower Application" complete, sign and return the file via fax.

Please complete all fields to ensure a timely and accurate quotation. DO NOT WRITE "See Attached". DO NOT MODIFY OR AMEND THIS APPLICATION. This application should not be considered a commitment to fund a loan.

Each project submitted must have a Business Plan. You may use the template below as a guideline for what is expected in your Business Plan.

The 5 Project Types the Company currently focuses on are as follows:

Our Typical Borrower is:

Willing to Submit:

A COMPLETE BCLOC APPLICATION

A BUSINESS PLAN REGARDING PROJECT

CURRENT AND COMPREHENSIVE APPRAISAL

CURRENT ENVIRONMENTAL ASSESSMENT REPORT

CURRENT PROFIT AND LOSS STATEMENT

PURCHASE AGREEMENT OR LETTER OF INTENT

CURRENT RENT ROLL

COMPLETE INCOME/EXPENSE STATEMENT ON THE PROPERTY

COMPLETE, DETAILED PHYSICAL DESCRIPTION ALONG WITH SITE PLAN OR PROPERTY SURVEY, PHOTOS, IF AVAILABLE

IF ACQUISITION, PROVIDE COPY OF FULLY EXECUTED CONTRACT OF SALE.

IF REFINANCE, PRICE ORIGINALLY PAID FOR PROPERTY, DATE OF PURCHASE AND SUMMARY OF CURRENT FINANCING

CURRENT BUSINESS FINANCIAL STATEMENT (WHERE APPLICABLE)

PROFESSIONAL PROPERTY MANAGER’S RESUME AND FINANCIAL STATEMENT

LAST TWO (2) YEARS’ PERSONAL TAX RETURNS

LAST TWO (2) YEARS’ BUSINESS TAX RETURNS

NAME OF TRANSACTIONAL ATTORNEY (who is familiar with Secured Finance Instruments such as Bonds, Asset Backed Securities, etc).

    2.   Willing to seek an experienced Property Manager to manage the property and submit the Property Manager's Resume and Current Business Financial Statement.

   3. Willing to post 12-months operating reserve.

Independent Capital Credit Corporation
200 West 9th Street, Suite 302
Wilmington, DE 19801
Telephone 302-778-4222 Fax 302-778-1048
Copyright (c) 2003- 2006, Independent Capital Credit Corporation,