Explore the Opportunities
Although OSP offers a multitude of transaction options, a series of specific steps is utilized in order to provide agencies with a clear and logical decision-making process.
- OSP provides a non-binding indicative portfolio bid in order to provide a framework for internal discussion. To prepare the indicative bid, OSP performs desktop underwriting and reviews sample copies of loan documentation.
- If settlement zones overlap and the agency’s board is supportive of recapitalization, then OSP works with the economic development agency to identify special requirements (such as the timing and use of proceeds, servicing, job-creation compliance) and to discuss and document any other unique issues. Due diligence is intensified in the context of these special requirements. This intensified due diligence may involve file review at the agency’s offices, credit review, title searches, property or business inspections, and loan officer discussions.
- OSP’s detailed asset-level analysis does not feed a formula but rather an opinion. OSP determines the appropriate discount rate or reserve (asset by asset) to derive aggregate cash flow models.
- OSP can complete the above steps and be prepared to fund within 30 days. However, experience shows that three months is closer to the norm. OSP will customize this time line to meet specific needs.
- OSP is pleased to participate in formal RFQ and RFP processes when requested.