The BorrowPQ Process™ consists of 4 Phases and 14 distinct steps within which we provide templates, user guides, and live professional support.
We also provide on-demand third-party, ancillary professional services should you decide you require them. See step 2 and feel free to contact us for more information.
The timing of some steps may overlap and the order in which they occur may change depending upon your circumstances. Generally, the process starts with submission of an “executive summary” description of your business, your borrowing objectives, and your assets to candidate lenders to determine their interest, followed by staged disclosure depending on the lender’s requirements. You will be seeking first a letter of interest (LOI) from lenders, which is a non-binding description of the financing the lender has available, followed by a term sheet, execution of which will bind both parties to certain obligations. Due diligence and closing follows, along with implementation of cash management and debt service commitments.
You may already have completed some steps. External developments may dictate elimination or alteration of other steps. For example, you may have already evaluated alternatives to asset-based financing; you may already have chosen your lender and may not want to shop around; you may already have recently prepared an ABL valuation; or you may already be working with a selected lender’s due diligence checklist. Regardless of where you are in the ABL borrowing process, BorrowPQ can help organize and streamline your approach and improve your financing outcome.
You’ll follow the BorrowPQ Process with easy-to-use online software that helps you arrange financing in a guided, step-by-step approach that you control. BorrowPQ brings together tools for preparation, valuing your assets, prospecting for lenders, negotiating terms, closing the loan, and administering debt service going forward.
At BorrowPQ’s core are ultra-secure communications and filing systems that you use to collect your asset and deal-related information, which you will selectively share as you move forward with conversations with prospective lenders. Each step in this guide further explains how the BorrowPQ Process is brought to life in the BorrowPQ software.
