UNSECURED LOANS

Cash Option

• Funding $20k-$300k 
• Interest rates 7-20% 
• Unsecured No PPP 
• 3 -7 year term 
• 7-14 business days=Fund
• Fully amortized

Criteria 

• 680+ FICO score 
• Soft credit pull
• 2 years personal tax returns showing at least $40k in personal income (AGI)
• DTI under 40%
• Revolving utilization (case by case) under 30%

Use of Funds

• Start-ups 
• Equipment Inventory 
• Fix and Flips 
• Bridge Loans 
• Payroll 
• Franchises 
• Expansion

Formula used to determine DTI

-Debt to Income: Total monthly payments on credit report multiplied by 3 then multiplied by 12. That will give you where the client's income needs to be. Example: $1,500x3=4500x12= 54,000 total income needed.

Credit Card Options

• Funding up to $150k 
• 0% interest, 6-18 months (depends on strength of credit) 
• Reports to Bus. Credit 
• Revolving Line (stays open as long as client desires)

Criteria 

• 720+ FICO score 
• Business Registered with the state in good standing
• Revolving utilization under 30%

Use of Funds

• Contractors fees
• Equipment 
• Inventory 
• Expansion
• Business Expenses
• Travel Expenses
• and much more...

Formula used for Revolving DTI

-Revolving debt is calculated by multiplying the total credit limits by .30. Example: Total credit limit $50,000x.30=15,000 That's what the client should be under to be under 30% revolving debt on their cards.

Self-Employed Checklist 

1. Last 2 years of business tax returns
2. Last 3 months of business bank statements
3. Last 2 years of personal tax returns 
4. Last 3 months of personal bank statements 
5. Driver's license (must have all 4 corners visible front, back & color copy) 
6. Utility bill (must be current and be in applicant's name) 
7. Voided personal check or ACH direct deposit form (for funds to be deposited)

W-2 Employed checklist 

1. Most recent paycheck stubs (last 30 days) 
2. Last 2 years W2's 
3. Last 2 years of personal tax returns 
4. Last 3 months of personal bank statements 
5. Driver's license (must have all 4 corners visible front, back & color copy) 
6. Utility bill (must be current and be in applicant's name) 
7. Voided personal check or ACH direct deposit form (for funds to be deposited)