Business Loans

Business Loan Parameters

Loan Amounts:

Established business (> 6 months): up to $50,000

Start-up business (< 6 months): up to $30,000

Installment loans with fixed monthly payments

Competitive annual interest rates from 8.99% to 15.99%

Loan terms up to 60 months

No prepayment penalty

3-5% closing cost (minimum of $100) and a $30 application fee will be financed into approved loans* Does not include broker fee.

Credit score of 575 or higher

You must own fewer than four (4) properties

No bankruptcies in the past 12 months or foreclosures in the past 24 months

No late payments on your rent/mortgage in the past 12 months

Sufficient cash flow to comfortably support monthly loan payments

Less than $3,000 in past due debt

For start-up loans:

Cosigner required

Investment match of 50% of the loan amount

Proof of an outside income

All required licenses

Strongly recommended to have a completed business plan

Disqualifying Issues:

A fico score below 575

Lateness in the last 12 months on Rent or Mortgage

Currently past due on child support.

More than $3,000 in unpaid judgments, collections, liens, charge-offs, medical, etc.

Bankruptcy within the last 12 months.

Property foreclosure within the last 2 years.

More than 3 properties

Adjustable Rate Mortgages (ARM) adjusting during the term of the loan or Picka-Payment or Negative Amortization loans

All Lending Source