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Questions

What are some business requirements?

Minimum annual business revenue (cash, credit cards, checks, financing, etc.) 500K. Minimum consumer loan amount $1000.  No business ownership personal bankruptcies in the last two years.  Other restrictions may apply.  Contact us for more details.

Do I need to cancel my current lending program?

No. Many of our clients use the product as a back approval source to begin. The product will typically approve up to 30% more loans than the major lenders in the industry. Many times the product begins as a secondary finance source, and later becomes the primary lender.

My business has been declined by GE Capital Bank. Can you approve me for your program?

In most cases, yes. Larger lenders like GE Capital Bank often require cumbersome financial documentation and loan minimums. We simply require one banking statement, and if you are a home service provider, a copy of your liability insurance policy.

Does this system include unsecured installment loan financing options?

Yes, up to 60 months. Rates from 8.99% to 21.99%.

Does the program include 0% deferred interest plans?

Yes, three different interest-free plans from 6-24 months.

Does the Sub-prime Program require customer pay stubs or bank records?

No. Our Sub-prime program is available in 23 states and does not require paycheck stubs or bank statements. This program is on auto approval and charges the business. Owners pay a small 2.99% discount rate and can offer clients 90 days Same as Cash terms. If not paid off in 90 days, the loan may be paid in 12 or 24 months, depending on the credit quality of the customer.

Are there prepayment penalties or default interest rates that are imposed on my clients back to purchase date?

No.

Are there other lower interest rates from other loan programs to offer our clients as well?

Yes, rates are available as low as 6.95% on a project loan program.

What does 100% funding programs actually mean?

If you are enrolled in the Flat Rate Program, we do not retain discounts or percentages from the business owner when funding approvals. Pay-outs are 100%. Many consumer finance companies charge a percentage of the loan funding and/or require a hold back for bad debt. We do not.

And lines of credit up to $25,000?

Yes, three unsecured with no recourse.

When are loans funded?

Monies are funded in 72 hours of loan approval and acceptance. We can also request overnight funds on credit approvals and we can pay before job completion.

How long does it take to get a loan approved?

Approvals are usually issued within 30 seconds. Sometime vendors may need to verify information so it could take as long as 24 hours, depending on the loan amount, client credit score, and debt to income.

Is there recourse to the business owner on defaulted loan payments?

There is no recourse to the business owner.

Are there relaxed credit scores from some providers?

Yes, 40 to 65 FICO points less than our competitors for the interest free programs, and even more lenient for our other installment loan programs. That’s why our loan approval rates are higher.

No down payments are required for customers?

On credit approvals, no down payment is needed. We suggest you secure a down payment, but that is up to the business owner.

What is the approximate loan approval rate?

On average, we typically approve 38% more than our competitors with our collection of national credit lender options on amounts up to $25,000.

Is each applicant presented to several lenders but with only one credit report pulled?

Yes, that is correct.

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