(See ‘Benefits and Fees’ for a detailed definition of the fees’ calculations)
Application Fee– the applicant must pay a non-refundable filing fee of $5000 with the submission of the application.
Independent Financial Advisor (IFA) Fee – depending on the type of project, an outside firm may be hired to do a separate analysis in conjunction with the analysis being done by MARAD to ensure the economic soundness of the project. The cost of the IFA review varies based on the size and complexity of the proposed project. The fee is non-refundable and must be paid by the applicant prior to the IFA undertaking any work.
Investigation Fee – Prior to the issuance of a Letter Commitment to guarantee obligations, an investigation fee must be paid. The fee is based on the amount of guaranteed debt issued. Both the ‘Application Fee’ and the ‘IFA Fee’ are deducted from this fee.
Guarantee Fee – This one-time fee is paid at the time of the closing to issue the guaranteed debt. As noted, please see the ‘Benefits and Fees’ section for a detailed explanation of how this fee is calculated. This fee may be financed if certain conditions are met.