This Unsecured Capital Program features applications for stated income, unsecured, revolving business lines of credit that can be used for any purpose the business owner deems necessary including expansion, bridging cash flow, marketing, paying off existing business debts or any other reason.
The credit lines do not appear on your personal credit report and therefore are invisible during personal credit transactions such as a car loan or during the mortgage underwriting process. The lines are underwritten and qualified wholly on a borrowerÂ’s credit rating, state income and stated business information.
Funds are typically available within 10-20 days of the application.
Some business owners that have cashed out equity in their homes to start businesses are using the new Capital Program lines to outright pay off a second or home equity lines of credit “HELOC” and carry the debt on business lines where it belongs. This results in a dramatic increase in the personal FICO score and debt ratio since business debts are no longer reflected on personal credit.
In just a few short months, client businesses earn a perfect business credit rating (80 PAYDEX or better). Once this goal has been achieved, your business will be flooded with preapproved offers from a multitude of credit providers, for both cash and supply uses. Never again will you or your company have to be concerned with obtaining financing for future Working Capital!
There are no officially set minimums on Sales, Annual Income, or CEO FICO Score to become a client. However, experience has provided insight as to what most banks are looking for in applicants in order to grant them credit. It is of the utmost importance that you are truthful in your statements of business information as banks will be comparing it to the results of their own research and due diligence.
Any type of business is eligible for the Unsecured Capital Program.
