Monday, May 30, 2011

Quick Unsecured Loan Overview:

UBLOC-unsecured business line of credit-similar to business credit card
Amount-$10k to 100k-if partner's-up to 200k
Credit: 720+, 45% revolving credit utilization, no negatives of any kind
Income-stated or projected if start-up
Rates-8%-12.99%
Initial period-no interest for 6 months or very low teaser rate
Repayment-revolving but generally 1-2% of outstanding amount
Access-business credit card, debit card, check, cash request
Fees-4-5%
Funding: 3-8wks

Used For: Any business purpose, especially working capital, start-ups, franchise purchases, combination with other financing
Time in Business: No seasoning but business identity (ein#) required

No comments:

Post a Comment