TERMS:
$1,500.00 and below: net loan amount up to 12 months (MAX)
$1,501.00-$2,500.00: net loan amount up to 24 months (MAX)
$2,501.00-$3,500.00: up to 36 months (MAX)
$3,501.00-$4,500.00: up to 48 months (MAX)
$4,501.00-$10,000.00: up to 60 months (MAX)
$10,001.00-$12,000.00: up to 66 months (MAX)
$12,001.00-$30,000.00: up to 72 months (MAX)
Minimum interest rate at the present time is 10.1% to 15.1% with no prepayment penalty.
CREDIT SCORING
We do not rely on credit scoring alone to make lending decisions. For instance a 720 score may be turned down (on occasion) due to high debt to income, etc. Conversely a 585 score (traditionally considered sub-prime) may be approved due to long time employment, same home for many years, etc. The only criterion that must be complied with is the borrower must be 18 years of age and a citizen of the United States of America.
PROTOCOL
This process is very client friendly. Simply fill out the credit application properly and make a note in the area indicated the amount to be financed. Fax to our office and normally we will have an answer within 24 hours. Upon approval we will give you the interest rate for the transaction. You complete the paperwork correctly and send it to our office. We are expeditious in our funding, every approved contract completed correctly received by a Monday will be funded via corporate check the following Monday . The only exceptions would be if a State or Federal holiday falls on a Monday.
LIABILITY
We require Contractors be fully licensed and bonded according to your state and local requirements. With the exception of fraud or failure to perform, you, the seller do not incur any contingent liability whatsoever. The biggest value to you is No Recourse , No Reserve , No Personal Guarantees and No Replacement Contracts . If your customer does not make their payments, you have no responsibility. There are no lengthy forms to fill out; no application process and we do not require business or personal financials or tax information.
