[Sachip24]

This product is designed for startups who already have their legal entities setup, but may not be earning a substantial amount of income. Having no payments for the 6 month term could be attractive to this type of business starting out.

Minimum requirements
FICO: 740+
Revenue requirements: None
Time In Business: None (must have a business bank account and LLC or Corp setup)
Other: Borrower must be a homeowner (open and active mortgage trade line)
Ownership percentage: 25% minimum
State: California Businesses Only at this time.

Loan Type: Unsecured

at the end of the 6 month term whole balance + interest is due or they go into a payment plan? If the business does not have enough revenue to pay back full balance in one shot what happens? Can they get an extension?

[kpeng]

at the end of the 6 month term whole balance + interest is due or they go into a payment plan? If the business does not have enough revenue to pay back full balance in one shot what happens? Can they get an extension?

I'm going to go ahead and say the idea here IS to go into a payment plan and charge a fee.