- What are your underwriting requirements?
Term loan: 700+ personal credit scores across all three bureaus with $50,000+ in gross income. Below 40% of their debt-to-income ratio.
Business credit cards: 700+ credit scores across all three bureaus and under 30% utilization on current revolving credit cards.
- Which documents are required from the client?
3 bureau credit reports (from Myfico, Experian, or IdenityIQ)
The past two years of their personal tax returns
past two years of business tax returns if available.
3) What alternatives are there for clients who do not meet the requirement?
A cosigner
8) What are the interest rates for the term loan program?
The client can get qualified for anywhere between 5-7 years. The interest rates vary anywhere between 6.9% – 16.9% based on the strength and weakness’ of the clients personal credit.
9) What are the interest rates for the lines of credit program?
The client can get qualified for 0% interest anywhere between 6-18 months, depending on the strength of their credit report. The interest rates vary anywhere between 6.9% – 16.9% based on the strength and weakness’ of the clients personal credit.
4) Are there any fees?
Yes, there is a funding consultation fee for the one year of service which is $10,000. The beauty behind this is that not only does the client get funded within a 72 hour time span but also, the affiliate, would be compensated within a 72 hour time span.
5) How long does the process take to close?
It would take 72 hours.
6) Are there industries that we do not work with?
We work with all industries, as long as they meet the requirements.
7) Is this collateral?
Everything we do is unsecured.
Respectfully,
Miguelangel Caraballo
Direct line: 832-438-7254