Multi-Credit Line Financing Program
-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)
(legal fees est. 5-8% based on $100,000)
-Interest Rates: 1.9 - 15%
(Average 10 - 13% after promo rates)
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
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
-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