[Incbiz440]

Title-

Details:

Term Loan Guidelines
Term Loan:
Fixed rate loan with no pre-payment penalty and semi-monthly payments. This product has some of the longest terms and lowest rates of any non-bank lender. Great for equipment purchases, capital improvements, renovations, etc. Requires six months of clean payment history before being eligible for renewal. Principal balance payoff at any time.
Prohibited Industries:
We can lend in all states except Nevada.
• Used or New Car Dealerships
• Bank and Other Lending Institutions
• Insurance Carriers
• Mortgage Carriers/Broker
• Money Service Businesses
• Adult Entertainment
• Cannabis Related Businesses
• Government Entities
• Gambling Services
• Non-Profit Entities
Product Overview:
• Minimum Amount: $20,000
• Maximum Amount: $250,000
• Payment Frequency: Semi-monthly
• Rate: 8.99% - 37.5%
• Term: 12-48 months

Underwriting Guidelines:
REQUIREMENTS LOANS BETWEEN
$20,000 AND $150,000
LOANS BETWEEN
$150,001 AND
$199,999 LOANS OF $200,000 AND
GREATER
Annual Sales
Minimum of $100,000 Minimum of
$200,000
Minimum of $750,000
Time In Business
1 Year
2 Years
5 Years
Minimum FICO
660
680
720
Bankruptcy/Foreclosures
None in last 2 years
None in last 2 years
None in last 2 years
Payment History No past due payments
in the last 12 months No past due payments
in the last 12 months
No past due payments in the
last12months Existing Merchant Cash
Advance or High-Rate
Product
or High-Rate Product Business must have at least 5 years tenure and only 1 existing high-rate loan at time of
application Business must have at least 5 years tenure and only 1 existing high-rate loan at time
of application
None allowed
Available Term Lengths
1-3 Years for Loan
1-3 Years for Loan
1-4 Years
Bank Statements 3 Months of Bank
Statements 3 Months of Bank
Statements
3 Months of Bank Statements
Tax Returns
N/A
2
2 Most Recent Tax Returns
Financials
N/A 2 Most Recent Tax
Returns
2 Most Recent Tax Returns
Debt Schedule Debt Schedule - only for debt refinancing
requests / MCA
Complete Debt
Schedule
Complete Debt Schedule
Additional Documentation
Underwriter Discretion Underwriter
Discretion

[MattNBC]

Almost sounds like Fundation to me. I know they do not do Nevada and most of those industries... I thought they capped at 36 months though not 48.

[Incbiz440]

Almost sounds like Fundation to me. I know they do not do Nevada and most of those industries... I thought they capped at 36 months though not 48.

That does seem to align. Thanks for the suggestion.