Multi-Credit Line

Multi-Credit Line Financing Program

Credit Standards:


-Must have good credit (700 FICO and above)


-Credit card debt no higher than 50% of limit


-No more than one (1) late pay in last 2 years


-No open collections, judgements, or liens


-At least one open revolving account for 3-5 years


-Low credit inquiries for last 6 months

Multi-Credit Line Highlight Multi-Credit Line Application

Procedures / Time Table:


-Have candidate call our office for a review


-We will send follow-up email to Franchisor


-Candidate must complete an application, and return to  Franchise Finance Credit Dept.


-Once received, pre-approval will be issued within  within one (1) week, $1,500 deposit due


-Final funding generally is completed within 4  weeks

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-Loan Amount:                        $50,000 - $175,000                                                                         (May come from multiple financial sources)

                                                                                                                 

-Loan Term:                              Revolving

                                                                        (Min pmt 1.5-2%) (payoff anytime)


-Collateral:                                 None


-Closing Cost:                            $1,500 Origination Fee

                                                                        (plus standard pkg,)

                                                                                                             (legal fees est. 5-8% based on $100,000)


-Interest Rates:                         1.9 - 15%

                                                                                                              (Average 10 - 13% after promo rates)