Approval Process
Overview
The entire application process - barring delays on the applicant's part - will take approximately 120-160 days from receipt of the completed initial application to closing.
Initial Application
Applicants will fill out an electronic form and submit an Executive Summary. Within 10days we will inform applicants if we intend to proceed to the next review stage.
Second Application
If the initial application conforms to NMCC's Investment Criteria, Applicants will be asked to submit more detailed information about their company including:
- A business plan
- Historic financial and operating information
- Biographic information on key employees/owners.
Subsequent Process
If the second application suggests a viable investment candidate, the Managing Director will consult with the Investment Committee and issue an investment proposal if the application looks promising.
If the applicant accepts this preliminary proposal a disciplined negotiation will begin that will include:
- Additional meetings
- Site visits
- Review of all legal and contract documents related to the Applicant
- Further review and verification of financial information
- Background & reference checks on applicant’s principals
Once it is apparent that due diligence issues can be satisfied, transaction documents will be prepared.