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07-25-2018, 10:07 PM #1
- Join Date
- May 2016
- Posts
- 42
Couple points of clarification on our term loan products:
- We offer term loans up 24 months with weekly or monthly repayment options (we can do daily if customer wants too).
- Our minimum FICO requirement is 600 (650 for monthly deals); a 24 month term is of course going to require a better FICO score (typically 700+)
- A customer can have up to two MCAs/loans and up to $100k in balances that we will buy out (no net requirement)
- The total monthly debt service ratio (including LOCs staying in) can be as high as 15% on a 6 month deal and 10% on a 12 month or longer deal (usually target 7% on 18-24 month terms)
- A customer can have up to 3 negative days in the most recent month and up to 9 over the last 3 months
- Our buy rates range from 1.25 to 3 pts a month with the best 24 month buy rate at 1.31x
If you have any additional questions regarding our product, please feel free to reach out to me or Zain (zmuzammal@breakoutfinance.com)
Steven Safirstein
Vice President of Sales & Head of ISO Relations
Breakout Capital Finance, LLC
6862 Elm Street | 3rd Floor | McLean, VA 22101
O: 703.852.6013 | steven@breakoutfinance.com
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