Let us dive into 2 unsecured business line of credit programs we offer in-house with monthly recuring payment that we think you could get major value from.

Unsecured Business Line of Credit Monthly Recurring Payment
Unsecured Business Line of Credit Monthly Recurring Payment

1. The LEX LOC: Really designed for people who are just starting their business or can’t get MCA’s. It’s a 0% interest line of credit up to 160k. The 0% lasts for 6-24 months depending on what the client qualifies for. They’re true forever revolving lines with no set payback term. (Can be paid back in 2 months, 2 years, 10 years, really whenever the client wants to pay it off) Traditional monthly payments that are much more affordable than MCA’s.

The minimum monthly payment would be 1% of the principal amount in which the client uses. So for example if they get approved for a 150k Lex Loc and they only decide to use 100k, they will only make payments on the 100k they used. The minimum monthly payment would be $1,000 to borrow the 100k. The other 50k would still be available to be used at any time the client would like.

Being we don’t get paid directly from the banks for facilitating this option we charge a 10-15% fee due upon the funding being completed and not upfront. Which in reality is like candy due to the fact a lot of clients are used to 20%+ interest at least with MCA’s (This Program is Business Credit Cards)

Generally, we push this onto people who either don’t want their MCA, don’t have business bank statements, Decline files/Default files, Or someone who is looking to open a business or someone who is very rate contingent. 

The only qualification needed to apply for the Lex Loc would be a 700+ credit score in all 3 bureaus. Cosigners are allowed and strongly recommended for clients who don’t have the credit profile needed for the program.

The only document needed for this program would be a Tri-Merge credit report after you’ve provided your business basic information.

2. Bank line of Credit:  Designed for more qualified business owners. Revolving lines of credit up to 1 million $. Fixed monthly payment. The rate is WSJ Prime +2-4%. Being we don’t get a commission from the banks themselves for facilitating this program there is a 10-15% fee due upon the funds being successfully facilitated.

Getting Unsecured Business Line of Credit Monthly Recurring Payment

Qualifications would be 680+ credit score in all 3 bureaus and 2 years plus time in business.

No revenue requirements. 

Only document needed to apply would be a Tri-Merge credit report for up to $100k.

Anything over $100k full financials would be needed.

Both programs can be combined together. Keep in mind these programs are entirely done in house. That includes underwriting.

Underwriting generally takes up to 2 hours from the time of submission. ISO decides whether we will charge a 10% or a 15% fee.

Please make sure you specify that you are looking for a business line of credit on the application form on the bottom most section.

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