Proof of Funds

by a searcher from Baruch College-The City University of New York - The Zicklin School of Business

2 months ago

Hi All, 

Beginner searcher here. I'm trying to obtain a CIM from a broker to get more details on a listing but he is gatekeeping until I provide proof of funds. A few investors I've spoken too would be interested once I go under LOI but I can't get there without further analyzing the CIM and speaking with the seller. Any recommendations on how to proceed here ? Or should I obtain committed capital before trying to get more information from brokers?

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searcher from University of Illinois at Urbana-Champaign

SBA lenders will provide a pre-qual letter if you don't have investor proof of funds.

2 weeks ago | like reply | 0 likes

searcher

Depending on the Broker. Actually, from an operative POV, you don't need the funds before asking form CIMs. In Europe you can actually ask for IMs wo proving funds. Sometimes the funds can be asked after finding a target. However, as Ray said, a letter from potential funders should be enough,

1 month ago | like reply | 0 likes

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