The Loan Process
Regardless of the size loan you are requesting, our loan process is simple and straightforward, with no unnecessarily cumbersome or lengthy applications to complete. In fact, one of our loan applications can be completed in less than 30 minutes. Please review our 6-step process.
1. Submit A Loan Inquiry.
A loan inquiry takes only minutes to complete. Once submitted, our experts will review your property information and you will receive an email within three business days advising you of our decision. At that time you will either be invited to complete and submit a loan application or you will be advised that your property does not meet our underwriting guidelines and that you will need to submit a different piece of property for our loan review committee if you want to pursue a loan.
This pre-application phase of our loan process is designed to save time and to move the loan process ahead more rapidly.
2. Complete and Submit an Equity ArtLoanTM Application.
Once you have been invited to submit a loan application, you will receive a username and the appropriate log on information that will take you to our loan application portal. There you will complete your Equity ArtLoan application. You will also need to provide proof of property ownership. A list of required proof-of-ownership documents is included in the loan application. Simply fax us the documents. You will not need to provide all of the proof-of-ownership documents listed, but the more you are able to furnish the easier it will be to expedite your loan.
3. ArtLoan Will Review Your Application and Make a Conditional Loan Offer
Once we receive your application and review your property images and proof-of-ownership documents, we will email you a Conditional Loan Offer (if your property qualifies for a loan). This offer is subject to final approval pending a physical inspection of your property by an ArtLoan specialist. Your Approved Loan Offer may differ from our initial offer, depending on the outcome of our inspection. Typically, your loan amount will not change unless you failed to disclose some important aspect or detail about your property in your original application.
4. Send/Ship Your Property After Accepting Your Conditional Loan Offer
Property that qualifies for an Equity ArtLoan™ must be inspected at an ArtLoan facility or in situ by an ArtLoan specialist. We can recommend preferred shippers in your area to help ensure the safe handling of your property. For many items, FedEx, UPS and the US Mail are the best methods of shipment. Other items may require special packing and shipping. Applicants are responsible for all shipping, handling and insurance charges to and from ArtLoan, including pre-payment for return shipping, once your loan has been repaid.
5. ArtLoan Property Inspection and Approved Loan Offer
When your property arrives at ArtLoan’s facility, it will be inspected and evaluated by one of our in-house specialists and you will be notified about the outcome of our inspection. Your Approved Loan Offer, final interest rate, fees, if any, and repayment terms will be specified at this time; typically they will not vary from those provided on your Conditional Loan Offer.
Your loan may be declined upon physical inspection of your property.
TO AVOID ANY DISAPPOINMENTS OR MISUNDERSTANDINGS, PLEASE INCLUDE AS MANY PHOTOGRAPHS AND AS MUCH INFORMATION ABOUT YOUR PROPERTY AS POSSIBLE PRIOR TO SENDING IT FOR INSPECTION.
6. Accept Your Approved Loan, Sign Your Loan Contract, Receive Your Funds
After you accept your Approved Loan and sign your loan contract, ArtLoan will electronically transfer funds to your bank account. Funds will be transferred only to the account you provided when you signed your loan contract.
If you would like to apply for an Equity ArtLoan™, please click here.
