Business Lines Of Credit – Minimum 640 Credit Score Required
Pay only on what you draw!
TERMS AND INTEREST RATE
- $2,500 TO $250,000
- 6 MONTH TERM STARTS AT 8.99%
- 12 MONTH TERM STARTS AT 17.99%
- NO PRE-PAYMENT PENALTIES, ONLY PAY INTEREST FOR THE
MONTHS THAT YOU USE
GUIDELINES
- Minimum time in business – 1 year
- Construction – 2 years
- Minimum annual sales – $360,000 or $30,000 per mo
- Minimum annual sales – $750,000 for construction
- Minimum FICO – 640
- Minimum ownership interest – 25% (anyone with a 25% ownership interest will be included)
- Must have no more than 5 OD’s and NSF’s combined in last 3 months
- Minimum average bank balance – $3,500
- Minium bank statement ending balance $2,500
- Cash advance requirements – 1 or 2 positions allowed
No missed payments, no renegotiated payments and no reverse consolidation; need a minimum of 8 weeks seasoning or track record for any recent cash advance funding
REQUIRED DOCUMENTS
- APPLICATION
- LAST 3 MONTHS OF BUSINESS BANK STATEMENTS ALL PAGES
- OWNER’S DRIVER LICENSE
FEATURES AND BENEFITS
- WE FUND MOST INDUSTRIES
- 24 TO 72 HOUR FUNDING
- FIRST, SECOND OR THIRD POSITION LINES OF CREDIT
- NO FEES TO KEEP LINE OPEN AND NO CLOSING COSTS
PAY ONLY ON WHAT YOU DRAW
RESTRICTED INDUSTRIES
Non-Profit Companies, New and Used Auto Dealerships, Real Estate Investors, Lenders and Financial Institutions, Transportation, Check Cashing, Adult Entertainment, Tobacco, Firearms, Gambling and Marijuana
