Overview

EnviroCap is the nationwide leader in UST trust fund financing. EnviroCap's management team has processed over $500 million of UST trust fund reimbursement claims ("Claims").

Our UST financing program is a smart option for site owners, environmental consultants and remediation contractors whose capital resources are better devoted to core business activities (i.e. profit-generating activities), instead of environmental cleanup expenditures.

EnviroCap funds your Claims, delivering the following benefits:

Immediate Cash
High Advance Rates
No Restricitve Covenants
No Credit Limits
No Trust Fund Default Risk

To find out why so many companies are taking advantage of EnviroCap's UST Claims Funding Program, please call Barbara Dunn for more information at 813.341.3650 x102 or barbara.dunn@envirocap.com

EnviroCap's UST Claim Funding Program is simple and straightforward. Upon satisfactory review of your claim package, EnviroCap advances a significant percentage of the Claim amount. Upon EnviroCap's collection of the Claim from the state trust fund,EnviroCap pays the seller a residual payment based on the amount reimbursed.

Assumptions:

Total Claim amount is $15,000.
EnviroCap advances 85% of the total Claim amount.
State trust fund pays entire Claim amount in 6 months.
EnviroCap charges transaction fee of 2% of Claim amount.
EnviroCap charges 1% per month servicing fee on advance amount.

Time of Purchase
EnviroCap purchases the Claim when it is complete and ready for submittal to UST trust fund. EnviroCap advances $12,750 for the Claim (85% x $15,000). EnviroCap establishes a reserve of $2,250 ($15,000 - $12,750) to cover its servicing fees and potential reimbursement shortfalls.

Time of Collection
EnviroCap collects $15,000 from the state trust fund. EnviroCap then pays the seller a remaining payment of $1,462. The payment is determined by subtracting the service fees of $788 ($12,750 @ 1.0% per month x 6 months) from the original reserve amount of $2,250.


SAMPLE TRANSACTION SCHEDULE
GROSS CLAIM AMOUNT = 15,000
SERVICE FEE = 1% PER MONTH


Expected
Payment	Initial	Initial	Trans.	Net Cash	Remaining	Estimated	Cash Paid	Total
Cycle	Advance	Advance	Fee	at	Purchase	Service	at	Net
(Months)	Percentage	Amount	(2% of GCA)	Purchase	Amount	Fee	Settlemen	Cash
_______	_______	_______	_______	_______	_______	_______	_______	_______
2	90%	13,500	(300)	13,200	1,500	(273)	1,227	14,427
3	89%	13,350	(300)	13,050	1,650	(406)	1,244	14,294
4	87%	13,050	(300)	12,750	1,950	(532)	1,418	14,168
5	86%	12,900	(300)	12,600	2,100	(661)	1,439	14,039
6	85%	12,750	(300)	12,450	2,250	(788)	1,462	13,912
7	84%	12,600	(300)	12,300	2,400	(913)	1,487	13,787
8	83%	12,450	(300)	12,150	2,550	(1,037)	1,513	13,663
9	81%	12,150	(300)	11,850	2,850	(1,144)	1,706	13,556
10	80%	12,000	(300)	11,700	3,000	(1,262)	1,738	13,438
11	79%	11,850	(300)	11,550	3,150	(1,378)	1,772	13,322
12	78%	11,700	(300)	11,400	3,300	(1,491)	1,809	13,209
13	77%	11,550	(300)	11,250	3,450	(1,603)	1,847	13,097
14	76%	11,400	(300)	11,100	3,600	(1,713)	1,887	12,987
15	75%	11,250	(300)	10,950	3,750	(1,820)	1,930	12,880
16	74%	11,100	(300)	10,800	3,900	(1,926)	1,974	12,774
17	73%	10,950	(300)	10,650	4,050	(2,029)	2,021	12,671
18	72%	10,800	(300)	10,500	4,200	(2,130)	2,070	12,570
19	71%	10,650	(300)	10,350	4,350	(2,228)	2,122	12,472
20	70%	10,500	(300)	10,200	4,500	(2,324)	2,176	12,376
21	69%	10,350	(300)	10,050	4,650	(2,418)	2,232	12,282
22	68%	10,200	(300)	9,900	4,800	(2,510)	2,290	12,190
23	67%	10,050	(300)	9,750	4,950	(2,598)	2,352	12,102
24	66%	9,900	(300)	9,600	5,100	(2,685)	2,415	12,015
25	65%	9,750	(300)	9,450	5,250	(2,769)	2,481	11,931
26	64%	9,600	(300)	9,300	5,400	(2,850)	2,550	11,850
27	63%	9,450	(300)	9,150	5,550	(2,929)	2,621	11,771
28	62%	9,300	(300)	9,000	5,700	(3,005)	2,695	11,695
29	61%	9,150	(300)	8,850	5,850	(3,078)	2,772	11,622
30	60%	9,000	(300)	8,700	6,000	(3,148)	2,852	11,552
31	59%	8,850	(300)	8,550	6,150	(3,216)	2,934	11,484
32	58%	8,700	(300)	8,400	6,300	(3,280)	3,020	11,420
33	57%	8,550	(300)	8,250	6,450	(3,342)	3,108	11,358
34	56%	8,400	(300)	8,100	6,600	(3,401)	3,199	11,299
35	55%	8,250	(300)	7,950	6,750	(3,457)	3,293	11,243
36	54%	8,100	(300)	7,800	6,900	(3,509)	3,391	11,191

Notes:

1.Initial Advance Amount is based on the expected state payment cycle.

2.Cash paid at settlement assumes 100% collection of the face value of the Claim.

Pre-Closing

Credit Application: A detailed spreadsheet of your historical claim collection experience listing the site name, facility #, date claim submitted, claim amount, date collected from state, state deductions (separate site owner deductibles from other deductions), and net amount paid by state trust fund.
Financial Statements: Last two calendar years and most recent YTD interim financial statements (both balance sheet and income statement).
Statement of Qualifications (Consultants Only): Brief description of your company and key personnel. This is generally the same SOQ provided to your prospective customers.
Articles of Incorporation: EnviroCap uses the Articles to verify correct corporate name and related information for use in the Agreement.

Upon Closing
Signed Agreement: Initial all pages and exhibits.
Board of Directors Resolution: Resolution authorizing agreement with EnviroCap.
Inter-Creditor Agreement: If you have an existing credit relationship which is collateralized by a perfected security interest (UCC-1), EnviroCap requires a letter from the creditor acknowledging that EnviroCap is purchasing your claims and that EnviroCap's security interest in the claims is superior to the existing creditor. EnviroCap will provide a sample agreement, or your existing creditor may have their own standardized form.
UCC-1 Financing Statement: EnviroCap completes the UCC-1 for your signature. This form is filed in your home state and the state of the claims (if different). The UCC-1 perfects EnviroCap's position as a secured party with respect to purchases and certain other assets of your company.

Overview

Pre-Closing

Upon Closing