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Yes. Every single one of the quotes you receive is for a real product from a real and vetted financing entity.
Participating funders provide us their products’ complete profiles and underwriting guidelines (rate, term, conditions, size of project, asset class, improvement, type of business, etc), so we can then build that exact product in our database and create an instantaneous proposal when you post a project that matches those guidelines. The application itself is customized for that specific product from that specific funder.
CleanFi plays a critical role in pre-underwriting applications on behalf of all the funders on our platform. Our job is to avoid rejection of the file by the funder, and insure the maximum possibility of success for your application. Upon receipt of the application, we check that:
>The application you provide is properly filled out with all of the right documents uploaded. Fifty percent of CleanFi applications include incomplete/wrong information or an error in document upload.
>The file has the applicant profile that matches the underwriting guidelines of the corresponding underwriter. If not, the CleanFi team intercepts the application, contacts the borrower and works to find a better matching solution for their financing objectives and credit profile.
>The borrower is discouraged from applying to multiple financing companies simultaneously.
NOTE that the application fee, as stated in the application itself, delivers no guarantees whatsoever about the success of the application with the associated funder. However, the CleanFi team makes a best effort to pursue secondary options (a “re-route”) should the first preferred underwriter turn down the file. This service is at no additional fee for any re-route in a category of financing for which the application fee is the same or less.