Unsecured Business Financing Q&A

What is Unsecured Business Financing?

Unsecured Business Financing is funds that are available for business use only.  Either sole proprietors or corporations can use funds.

 

What are the application requirements?

Requirements for this program are very basic, (1) Registered business with tax ID aka EIN. (2) Your personal credit score aka FICO is a minimum of 680

 

If I don’t have a formal Business registration or EIN can I be helped?

Yes. For an additional $499 we will assist you’re with processing you business registration in Minnesota.

 

Is there an application/processing fee?

There is an application fee of 4.99% per transaction.  Minimum fee $4,999.00. 

 

What are the minimum/maximum loan amounts?

The minimum loan amount for Unsecured Business Financing is $100K.  Maximum is $100M

 

What are the interest rates?

Interest rates very.  They can range from 0-9%.  Unless of course you default, the rate can increase dramatically upwards of 30%

 

How are the funds accessed?

This is a revolving account which funds will be accessed by check or check card.

 

How will I know my status?

You will be provided with username and password to access your personal secured online account.  In addition each investor will notify you by mail upon approval or decline.

 

What are my responsibilities as an applicant?

Your responsibilities include completing the application, providing true personal and business facts as required and not applying for other credit that would change your credit status.   If such a situation occurs we must be notified 3 business days before any action is taken.