My client is seeking $700k to bridge their $60M application to fund their prefab residential & solar development project in Lagos Nigeria.

We have preliminary interest from a primary lender for the $60M requirement, what the lender requires along with the application is 1% of the loan amount ($600k) - as Proof of Funds (POF) - which will be used for loan set up, due diligence, engineering, legal, bond fees, etc. Client requires $600k to cover these fees PLUS $100k (to hold back) to cover any unforeseen miscellaneous fees assessed by the lender. These fees will be paid directly to the lender, not to the client

The bridge lender will receive these funds back, in full at closing - this will be stated in the lender's contract - PLUS the bridge lender will enjoy a return of $7M over 7 years or less. The $7M ROI will be collateralized with a 10% equity share in the entire project. Once the $7M ROI is paid to the bridge loan investor, the 10% equity will be returned back to the client.