Who borrows
- Property owners who need capital quickly and for a short period
- Borrowers with real equity in the property
- [TBD: borrower types and property types in scope, for example residential, commercial, land]
Becoming a borrower
1
Contact Shores
Reach out directly or through your broker. See Get in touch.
2
Identity and documents
Complete identity checks (KYC, or KYB for companies) and provide ownership records and details of the property and your exit plan. [TBD: document checklist]
3
Underwriting
Shores reviews the borrower, the title, the property’s value and the exit plan, and sizes the loan conservatively. [TBD: valuation and title process]
4
Sign and register
Sign the loan documents. The first lien is registered against the property. See Borrower loan agreement.
5
Funding
The loan is funded offchain. [TBD: typical time to fund]