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Company InformationProject Funding - 100%
WIZARD INVESTMENT GROUP, LP
100% PROJECT FUNDING PROCEDURES & TERMS:
You are requested to submit your project, (Project Participants) into a 100% project funding program under the following terms and conditions:
1. Use the Broker Submission Form (attached) when submitting projects.
2. Inform the Project Participants that they are â€œinvitedâ€ and can be â€œuninvitedâ€ to participate as this process takes more time than some may like.
3. This is not a loan and no repayment is expected. The Funder/Investor and/or the Funder/Investorâ€™s review/oversight group combined will receive up to 45% equity in the Project Participantâ€™s project.
4. There are never, under any circumstances, any upfront fees charged to the Project Participants by the brokers or funders.
5. The approval is a two-step approval process. The Funder/Investor must approve the project and the Project Manager must approve the project in order to be funded.
6. Projects can be combined as long as it makes sense.
7. The actual funding runs in a 5-year, month-by-month cycle, but a project can be submitted for a longer build-out timeframe. Again, it must make sense. Do not force or restrain a project into five years when it is obvious that it takes longer. The Funder/Investor will continue for the additional time needed to complete the project if submitted correctly upfront.
8. Funders realize that most Use of Funds numbers are close estimates and that they may vary once a project begins. The first 6 to 8 months of any project gives the Project Participant the time to pull their team together, lock down all costs and at that point, if additional money is required, they may submit a request in writing to their Funder or the Funder/Investorâ€™s team for additional funds as long as it makes sense. The last thing a Funder/Investor wants is for a project to fail. We always add a 10% contingency calculated on hard costs to give the project latitude for success.
9. The Funder/Investor has established teams of oversight to oversee their projects upon funding.
10. The agreement between the Funder/Investor will stipulate the percentage of equity and penalties that could occur if the project is mismanaged or if gross negligence is a factor. Reasonable causes for delays or overruns is acceptable, incompetence is not. Accountability is everything for a smooth running project and the partners to the agreement.
11. The terms of the Limited Partnership Agreement will remain in effect permanently unless the Funder/Investor and Project Participant arrange for buyout.
Broker or Intermediary Fees:
1. The maximum allowable fee is 2% based on the request funding (total for the combined brokers in any transaction). Now, does that mean you will get 2%? No it does not. Broker fees, like the project, must make sense. The last thing anyone wants is to jeopardize a project over greed and fees. The larger the project, the less the fee so that it conforms to the overall request.