Business-Line-Of-Credit
NEW Program!
Interested in a Line of Credit?

Looking for a Cash lines-of credit with average rates of 7-10% Term 3, 5 or 7 years 675 fico or better approved!

Need a line of credit?

  1. Unsecured funds
  2. No upfront fee
  3. No assets
  4. No revenue
  5. Great for start up businesses
  6. Line of credit can be indefinite

Here are the major points:

Credit-based funding options, with no revenue or asset requirements:

Low-doc options (requiring income documentation):

·        Cash lines-of credit with average rates of 7-10%

·        Term loans of 3, 5 or 7 years, also with average rates of 7-10%

No-doc option: personal credit cards with 0% interest for the first 10-20 months

Income documentation requirement is often below $4000/month, and is satisfied in most cases.

Most applicants with FICO’s above 675 will qualify for funding.  Partners or family members may apply in place of original applicant or to increase funding.

Qualified applicants are funded $75,000 to $125,000 on average, but may receive as much a $200,000 in funding.

Funding is received in 3-4 weeks, but may be received in as little as a week when requested.

What is the line of credit based off? Credit Score..

Prefer 675 fico and up

Terms 3-5-7 years

Rate 8-12%

Interested please send me a credit report and I will call and provide a rate?

Please email me your scenario?
mark@commercialmortgageunlimited.com

unsecuredbusinessLOC

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small business loan

Loans based solely on monthly income.

Fico score does not matter for this lender!

Providing  small businesses with the working capital they need when they need it. As a private direct lender, we have our own underwriting guidelines by which we make funding decisions in a matter of days. Where a bank may deny a strong business based on the owner’s personal credit score,  looks at the overall health of the business to provide financing to business owners with less than perfect credit.

Loan Amounts

We make general purpose business loans in the range of $5,000 – $2,000,000.

Loan Terms

Providing  short-term business loans paid back over a period between 6 and 36 months.

Approvals

Because we won’t judge a book by its credit score, we approve businesses that might not otherwise qualify for financing from banks.

Payment Methods

Our loans are paid back through fixed and affordable payments linked to the business’ bank account.

·         $150,000 average loan size

·         6-month minimum term – 36-month maximum term

·         No minimum credit score

·         Daily or weekly even monthly payments

·         6-months minimum business history

 

Most banks may deny a strong business based on the owners personal credit. This lender looks at the overall health of the business to provide financing to business owners with less than perfect credit.

  • No Minimum Credit Score
  • Funding in as little as 24 hours after approval
  • Various Repayment Options

Loan Amounts

Offering  general purpose business loans in the range of $5,000 – $2,000,000.

Loan Terms

Providing short-term business loans paid back over a period between 6 and 36 months.

Approvals

Because we won’t judge a book by its credit score, we approve businesses that might not otherwise qualify for financing from banks.

Payment Methods

Our loans are paid back through fixed and affordable payments linked to the business’ bank account.

  • $5,000 minimum
  • $2,000,000 maximum
  • $150,000 average loan size
  • 6-month minimum term
  • 36-month maximum term
  • No minimum credit score
  • Daily or weekly payments
  • 6-months minimum business history
  • Sorry no start-ups

Personal Loan application, we use this option if the client has no business history and is looking for a start- up loan option, credit score must be above 680.

For the Personal Loan we will need;

o   DOB

o   Address

o   Estimated monthly Income or annual income

o   Last 4 of social

 

·           Hard Money Deals are structured;

1% interest only, monthly payments on the loan amount for two years.

After two years principal is due.

Retainer fee upfront covers;  appraisal, title search and our lender going out to property

meeting with owner.

 

Key Points!

*      We can provide Tier 1: A paper lending with buy rates from 1.12 to 1.33 for those who qualify

*      We can provide Tier 4: D paper lending with a 6 month buy rate of 1.30 with weekly payments and an option to go up to 12 months

*       With Tier 4 lending, we DO NOT care about FICO score, Negative Days (NSF), Lender defaults, minor criminal offense

*      We can take all of DECLINES and turn some of them into funded deals which leads to commission for you

*      Provide funding up to $2 million dollars and more if needs be

*      Commission is paid within days after funding. 8 points for secured and 4-6 points for unsecured deals. Personal loans are 2 points.

 

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Here is another example of another company that offers similar products. The above lender is just interested in monthly cash flow not the fico score. But this lender wants just people with great credit scores.

We specialize in Personal Funding of up to $400,000 in loans, line of credits and credit cards. The FICO score of the client has to be above 700 with all three credit bureaus to qualify for the funding. The higher the FICO score, the more client will qualify for. We’re also able to provide funding based on one bureau if its above 700. Our funding process includes two phases. Below you’ll find details pertaining to each phase.

Phase 1 ( Pre Approval):

Phase 1 is also called Pre Approval Phase. For pre approval, the broker is required to email the recent and detailed credit report of his client that shows all three credit bureaus. The report is meticulously reviewed and then a pre approval is sent to the broker accompanied by “Loan Agreement Letter” and “Loan Application Form“. It takes 24 hours to review the credit report and send the pre approval via email.

Phase 2 (Funding Phase):

If the customer wants to proceed with the pre approval then he/she has to prints the loan agreement letter and loan application form, fill them and return the scanned copies accompanied by his/her following documents.

1) Colored and signed copy of social (front and back).
2) Colored copy of ID (front and back).
3) A copy of utility bill.
4) 2 recent pay stubs and W2s or tax returns if self employed.

Once the aforementioned documents are submitted then within 7-10 business days the funding is provided to the client.

If you are interested I will send you a broker agreement followed by a loan application