Hard money lender offer

[Alamen Ems]

Hi all. I been contacting some local hard money lenders and some online and the below is one of them offer. -We require a 10% down payment of the entire project (purchase price + repairs) -We can split the repairs up into four relatively equal draws -You need cash on hand for the first section of repairs before we inspect them and reimburse you -There is a 5% funding fee and around $1000 in closing costs that can both be rolled into the loan. What you guys think about it? I never deal with them before. Thanks in advance