APPLY HEREBusiness Loan Program Details
Underwriting Guidelines • Minimum Qualifications • Approved Industries
Underwriting Guidelines & Minimum Qualifications
- Minimum Equifax credit score of 551
- Minimum 1 month time in business (same ownership)
- Minimum monthly sale of $17,000
- Loan amounts up to $500,000 for single entities
- Loan amounts up to $750,000 for multiple entities
- Fixed terms from 12 to 36 months
- We can pay off up to 2 competitors
- Minimum Equifax credit score of 601
- 2 years in business (same ownership)
- Minimum monthly sale of $17,000
- Loan amounts up to $500,000 for single entities
- Loan amounts up to $750,000 for multiple entities
- Fixed repayment terms from 12 to 36 months
- We can pay off up to 2 competitors
Loan Program Advantages
Higher Loan Amounts • Longer Terms • Lower Payments
- Loan amounts from $5,000 to $1,000,000
- No collateral required on amounts up to $750,000
- Repayment terms from 12 to 36 months
- Same-day approvals and fundings in under a week
- Minimal documentation is required
- Interest-only options are available
- Up to 50% principal deferment for lower payment
- All loans come with an optional line of credit
- Fast access to 5 loan drafts over a 6-month period
- Repayment is not tied to credit transactions
- Early pay-off options are available
- The interest paid is tax deductible
Loan Options
- Loan amounts from $50,000 to $750,000 with no collateral required
- Pay only the interest for up to 1 year with asafety net rollover term of up to 2 years
- A Line of Credit will now be provided for up to 1 year (52 weeks)
- Unlimited draws of $25,000 or more during the Line of Credit period
- No tax returns or financials required on amounts up to $750,000
- After the interest-only period, you have options: You can pay off the principal, allow it to rollover, or simply refinance it.
- Max approval amounts up to $1,000,000 with minimum initial loan of only $5,000
- Max amortizing term up to 36 months with low, fixed weekly payments
- A revolving period up to 1 year (52 weeks)
- Unlimited draws of $5,000 or more during the revolving period
- Unlimited partial principal paydowns of $5,000 or more during revolving period
- Every payment made and partial principal paydown frees up line availability
- Finance charges accrue and are collected weekly
- Closing points only charged on cash out
- Pay off or pay down with no penalties, maintenance fees or prepayment fees
