The progression from loan request to loan approval is a simple process with four basic steps:
- Project Eligibility
A PCI staff member will discuss the loan request with the prospective borrower or referral source to determine if it is eligible for a PCI loan based upon PCI's target markets and the merits of the request.
- Financial Underwriting
The completed loan application will be analyzed to evaluate whether the requested loan will benefit the project and be a sound investment for PCI.
- Investment Committee Approval
PCI staff will present the loan proposal for approval at PCI's monthly Investment Committee meeting.
- Loan Commitment & Closing
Loans approved by the Investment Committee receive a commitment letter that outlines the steps necessary to proceed to a loan closing.