- What type of collateral do I need?
- Do I need good credit for these lines of credit?
- What can I use the credit lines for?
- I would like to start my own business, can I get approved?
- Is there a lot of paperwork involved?
- Does the process take a long time?
- Where do the credit lines come from?
- Is it difficult to get started?
What type of collateral do I need?
None. Unsecured means that collateral is not required for this program. This is good news for a small business owner who has tried to get a bank loan. If the bank is prepared to make the loan, they want collateral i.e the business owner’s home. If the business fails and the owner can not make payments on the loan, he will lose his home.
With our business lines of credit, the debt stops at the corporate level.
Do I need good credit for these lines of credit?
No. As the business owner you should have a credit score of 720 plus for the program. If you don’t, you can ask a friend, relative or business associate with good credit to become the Chief Financial Officer of your company for six months.
What can I use the credit lines for?
Anything. You can use the lines of credit for any business related activity. These activities can include opening up another location, hiring additional staff, more advertising, or buying larger quantities of products to get a lower price.
You may have good customers that are simply slow payers, in which case the lines of credit will assist with your cash flow.
I would like to start my own business, can I get approved?
Yes. Many of our clients have become instant new business owners because of our program and the availability of funding.
Is there a lot of paperwork involved?
No. We are accustomed to fillling out large amounts of paperwork when it comes to getting a home loan or buying a car. But with our program we have simplified everything so it only takes 10 minutes or less to complete the documention and that is it!
Does the process take a long time?
No. If you are starting a new business the first lines of credit will be available in about 6-8 weeks. After that additional lines will follow on a fairly regular basis until you have reached $300,000. This amount will be reached within 6-12 months.
Where do the credit lines come from?
Major financial institutions. You will be offered lines of credit from major financial institutions such as Bank Of America, Chase, American Express and Wells Fargo.
Is it difficult to get started?
No.You can get started with the program by calling us at 1-866-323-2477 and we will fax or email the forms to you. Return the forms to us and if everything is in order you can look forward to your first lines of credit within 6-8 weeks.
