Business Lines Of Credit, Also Known as Working Capital Can Range from Micro Loans to Multi-Million Dollar or More Credit Lines. The Can be Secured or Unsecured.
This came in the evening of November 27th from our Monster Corporation vendor, Peter:
Joe, I am not sure if this fits in with your program, but we can build a companies Paydex within 10 days to Paydex of 80. $4500 4 trades totaling 40K.
We can also build Bus Experian in 45 to 60 days. $3900. We will build trade lines and build a rating from moderate to low risk.
I was in such a hurry to send Thanksgiving greetings that I forgot to put the signature file in the newsletter. Sorry!
I track the hyperlink response in bit.ly I am stunned at the response since sending the newsletter at 11:30PM last night:
255 responses for one category in 14 hours is incredible. Thank you! 1489 total.
I had a 60-minute telecon with the manager of the new line of credit programs this morning. They funded 7,321 applications year to date, WOW!!!
I spoke with a client of theirs this morning in the northwest suburbs of Chicago near where I grew up. He has a medical supply business that’s at about 90% of last years volume because of a fire that occurred earlier this year. Even though he has an 800 FICO score and had been in business for many years local banks turned him down.
This funding source obtained $2,200,000 from nine different lenders including two AmEx cards in about 30 days. Yes, it cost him some money up front and on the back end but he was funded in record time.
If you are SERIOUS and want funding in the next 30 days I urge you to visit:
Complete the application. Remember that we have a fully earned 1% fee, $1,500 minimum; $25,000 maximum. I have the non-disclosures, fee agreement, and bank coordinates for those who are interested. Just write me at help@joetufo.com or call M-F 7AM to 5PM Pacific at 925-691-8200.
If you don’t have a minimum 720 score with all three credit bureaus you should go to http://bit.ly/2HFJEYand invest the money to clean up your personal and business credit. Your personal goal should be to have an 800 FICO score.
Single person credit repair — $1495
Married Couple — $1995
We have a new Business Line of Credit and Personal Line of Credit provider that has six programs and can fund $10,000 to $10 million. We charge a fully earned fee of 1%, minimum $1,500 (our normal minimum funding is $100,000). Our minimum was $2,500 but I lowered it because of the recession: it will go back up.
They charge a processing fee of $225 to $375 plus a success fee of 6.9% to 9.9%: in addition we charge a success fee of 4%. The fee is earned on each successful funding which means that if you receive $10,000 you must remit the success fee within 48 hours or the remainder of the funding stops.
They fund in about 30 business days.
Here’s the application:
If you already have a successful business you know that it was not easy to get where you are now, but through hard work, business smarts, and perhaps even with sheer GUTS you have made it this far….but this far is not far enough for you, and you have big dreams and a vision of taking your business to the next level, be it through opening new locations, increasing your Inventory, hiring more talent, or increasing your Marketing Budget. Whichever your plan for Growth and Expansion, you again need LOM, or “Lots of Money”. How do you get this Cash Infusion?
… Let www.workingcapitalfast .com help you.
As our client, you will deal with Top-Notch EXPERTS in Unsecured Business Financing, each with an average of 10 years experience underwriting Small Business Loans who are here to help you and to give you the STRAIGHT ANSWERS you need.
Our Underwriters devote 100% of their time exclusively to working with our clients in obtaining the MOSTfinancing possible in the SHORTEST time possible – This is our niche, it’s all we do, and we are the BEST at it.
We specialize in Business Loans and Lines of Credit featuring:
The Lenders in our Network focus on your Credit History and (if available) Business Financials to make their decisions, and the stronger your Credit History, the less documentation you will need to provide. If you have High Credit Scores above 700 FICO our Lenders will rarely ever require any Income or Asset documentation.
Our Expertise is in the complete and correct preparation of your Application so it gets approved the 1st time, and in our extensive network of financial institutions that are willing to finance your particular type of business. We make it easy for you, so don’t waste time and apply right now!
Find out how our EXPERTS can get you Funded!
Here at http://bit.ly/WorkingCapitalFast we know from experience that Clients that come in to us with the Right Expectations and understanding about the service we provide end up achieving dramatically superior results than Clients that don’t.
Therefore, we have decided to explain the basics of Our Process so you know exactly how everything works and achieve the Best Possible Results that can be obtained for your particular situation and also with a sense of Satisfaction that you made the Right Decision in choosing workingcapitalfast.com.
So here is.
APPROVAL AMOUNTS & TIME FRAMES: Each Client is a unique challenge and requires a different strategy – Because of that, the Time Frame for receiving Approvals and the Approval Amounts will depend on various factors and cannot be pre-determined or guaranteed ahead of time. Having said that, we are currently experiencing Approvals within 1 to 3 Days from the the Date each Application is submitted to a Lender, and once each Application if Approved, our Clients are getting funded within 7 to 10 days in the majority of cases. No Doc financing (especially for Start-Up Businesses) may come in the form of personal installment loans in increments of$25K to $100K per lender (depending mainly on your geographical location) and several credit applications may be submitted in order to achieve your total requested financing amount and each credit application will result in a new inquiry on your personal credit report(s) because each lender will need to obtain your personal credit report(s) in order to underwrite your credit application – There is no way to avoid Inquiries, but we can assist you in removing most of them – Ask us how.
WARNING: Anyone or any other Company out there making promises or guarantees to you regarding Approval Amounts or Time Frames is deceiving you – Hold on to your Wallet! No one can promise you any particular Approval Amount or Time Frame until you are actually Approved and Funded – That’s the bottom line and anyone claiming otherwise is deceiving you or stretching the truth at the very least. Here at workingcapitalfast.com we don’t play that game – We tell you the Truth, whether you like it or not.
INTEREST RATES: The normal range of interest rates for No Doc loans and lines of credit is 7% to 14%, and for EZ Doc loans and lines of credit it is 6% to 12%, but the interest rate you receive may be higher or lower in some situations.
MINIMUM QUALIFICATION CRITERIA: We are ready and able to help every Client that needs our assistance, but if you have recent derogatory marks on your Credit Report, Bankruptcy, Foreclosure, or Repossession in the last 10 Years then it may be very difficult to obtain financing unless you bring in a Business Partner with a clean credit history. There are also some Industries that are harder to finance than others because they are considered to be “High Risk” by Lenders, so if you are concerned that your Business may be in a High Risk Industry or that your credit rating is not strong enough, please ask us about it before you sign-up.
NO DOC: No Doc means that you do NOT need to provide any proof of Income or Assets and depending on market conditions and your geographical location, the financing may come mostly in the form of Unsecured Personal Installment Loans ranging from $25K to $100K each. The time you have been in business is NOT an issue either – Start-Ups are OK.
EZ DOC: EZ Doc means that your Personal and/or Business Tax Return Transcript(s) are obtained directly from the IRS using IRS Form 4506T to facilitate the process for you, but Lenders may still require you to provide full copies of your Tax Return(s) and/or additional documentation such as Bank Statements for the last 3 Months, Business License, etc.
If you’d like to purchase our Business Line of Credit Course and access to every article that I’ve written on business and personal lines of credit click here:
We have a new “small” Monster Corporation of $1,500,000. We have just six of these available to our clients each month. This is NOT for everyone. For starters it will cost you $75,000 up front and 12% back end. The process takes 90 to 130 days. There are credit requirements that need to be honored.
That said, this may be the best way to be funded if you are a business person, real estate investor, or entrepreneur. It’s certainly better than giving up equity, in my opinion.
We have one in process and one that will start the process next week. We have a few slated to begin in the next six weeks. There is a $2,000,000 option available for an additional $20,000 up front if you are interested.
Click on the hyperlink: http://bit.ly/1IBF7q
If you need a good credit repair service:
If you don’t have a minimum 720 score with all three credit bureaus you should go to http://bit.ly/2HFJEYand invest the money to clean up your personal and business credit. Your personal goal should be to have an 800 FICO score.
Single person credit repair — $1495
Married Couple — $1995
We’ve added a factoring application and video explaining how to complete the lengthy application in detail. Today we have several funding sources for business lines of credit but they do take time 30 to 45 days on the short end and 90 to 130 days on the long end. We can set up a factoring line in seven to 10 days and after it’s set up can turn an invoice into cash in one to two days.
Here’s the link:
This came in Saturday November 21st:
, Mortgage Consultant, Discovery Home loans (colleague)
worked directly with you
“Joe is the most detailed business person I know. His mastery of his contacts and incredible knowledge of funding opportunities is like no other. Businesses looking for funding especially alternative should contact Joe immediately.” November 21, 2009
This came in November 18th, our daughter Katie’s 12th birthday, Dale’s Mom & Dad’s 65th wedding anniversary from Joe Hipple , a brilliant media entrepreneur in Las Vegas:
LinkedIn Recommendations
Joe Hipple has endorsed your work as President at Cash Flow Specialists, Inc..
Dear Joe,
I’ve written this recommendation of your work to share with other LinkedIn users.
Details of the Recommendation: “I met Joe about two and a half years ago and have found him to be very thorough, prepared, knowledgeable and well respected throughout the industry. Joe makes things happen and is always willing to pick up the phone when called. In addition, he’s a great person!”
The link for credit repair was broken last week. Joe caught the error, thank you very much, Joe. here it is:
This came in from al Alborzi November 19th:
Al hired you as a Business Consultant in 2001 {1}
Top qualities: Personable, Expert, High Integrity
“I have known Joe since 2001 we are both in the financial industry and Real Estate, he has helped me many times with my clients financial transaction needs. He is professional and knowledgeable. He has been in the financial Industry for many years with variety of experiences.” November 19, 2009
Thanks for all the calls and kind comments about the newsletter today. I just want to tell you how much I appreciate you.
If you need lines of credit this may be a solution for you. I have not had a funding source achieve such significant results in the depths of this recession.
As always I am here to serve you and those whom you choose to refer.
http://www.gty.org/Resources/Sermons/80-267
Joe Tufo, Certified Cash Flow Consultant, Certified Capital Specialist
CASH FLOW SPECIALISTS, INC.
P.O. Box 844
Alamo CA 94507
925-691-8200 Direct to my desk
800-669-2700 Business
206-984-2853 Fax
joe@joetufo.com
http://www.workingcapitalfast.com
http://www.joetufo.com/blog
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http://www.google.com/profiles/jptufo
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When a business manager concludes that a business should raise cash and has completed their analysis of the expected uses and outcomes of the cash, the next thing to consider is what structure is right for that business.
Broadly, capital can be raised using three alternative methods.
A business can sell part of itself in the form of equity. In an equity financing, the business issues ownership interests to an investor who then owns the portion of the business represented by that equity interest. Equity financing is usually heavily negotiated and may include terms governing dividend payments, voting rights, board membership, anti-dilution rights, etc.
Much “friends and family” financing is equity. “Taking on a partner” usually means the business is raising equity. If your mother will give you the money you need, and not demand very much, it can be an excellent way to raise cash. However, if you go to professional investors, prepare to have a partner (and quite possibly a very active one) for a long time.
Most equity investors seek an “exit strategy” which means a time when they will get their investment and the profits they earned out of the business – often through a sale of the business.
The second broad area of capital raising is borrowing or leasing. While borrowing and leasing are very different in their structures, we will combine them here under the concept of “credit.”
In these forms of financing, the business gets cash today (either in-hand or to buy a piece of equipment), in exchange for the promise to make set periodic payments until a set future date.
The aggregate amounts of the payments represent a combination of repayment of the amount the financing institution provided (the loan amount, or lease amount) plus interest charged for using the money.
Credit is one of the most common ways for businesses to raise cash. There are an almost limitless number of credit structures and types.
Most credit structures require collateral to secure the obligation and many require personal guarantees of repayment.
If the borrower or lessee does not make the required payments, then the creditor can foreclose on the collateral and attempt to execute any guarantees against the assets of the guarantors.
The interest charged on credit is usually pegged to the creditworthiness of the business borrower or lessee, and for small businesses, the creditor usually takes into consideration the creditworthiness of the owner. Interest rates vary widely, and many creditors also charge fees.
The third area of capital raising is asset sales.
Businesses can sell equipment they are no longer using, or contractual rights, inventory or real estate not essential to their businesses.
They can also sell accounts receivable through structures known as factoring.
They can also sell their future card receivables in the form of a merchant cash advance.
Most small businesses do not have unessential property, and if they do, often the market does not pay much.
The relative lack of hard assets in small businesses is one of the reasons financial institutions often look to the personal creditworthiness, guarantees of repayment and collateral of small business owners when looking to extend credit.
Factoring is an ancient financial technology, and involves selling an account receivable. If a business has extended credit to a customer and delivered the product or service, the resulting account receivable can be sold to a willing buyer – often at a substantial discount to its face value. The buyer, or “factor,” then collects the account receivable directly from the “account debtor” (the business or individual obligated to pay pays the factor rather than the business that delivered the product or service).
No form of capital raise is right for every business. However, some forms are wrong for some businesses – or their owners.
For instance, business owner “A” who is extremely independent, and would not work well with co-owners, might seek to avoid selling equity or taking on a partner.
Business owner “B” is in a highly cyclical industry and wants to avoid fixed payment dates and fixed payment amounts may wish to avoid a bank loan or lease with fixed payment schedules.
Business owner “C” may have easy access to loans or leases with low interest costs, with the excellent personal credit and lien-able collateral owned by the business often required by a bank or traditional finance company. They may also have plenty of time to do paperwork, and be unconcerned about fixed payment dates and fixed payment amounts.
Cash Flow Specialists, Inc., through our Preferred Vendor ,TCS and its agents, have designed our Monster Corporations for business owners, investors, and entrepreneurs with capital needs. These corporations are fully documented with tax returns that are verifiable with the Internal Revenue Service.
Agreement
General
This Agreement constitutes the complete agreement of the parties regarding its subject matter and replaces and supersedes any prior written or oral agreement between parties regarding its subject matter.
No representations or warranties have been provided by any party to this Agreement except TCS and its agents specially set forth in this Agreement. This Agreement may not be modified or amended except by written means clearly identifying itself TCS and its agents a modification or amendment of this Agreement and which is signed by TCS and its agents.
This Agreement may be executed in multiple parts, each of which shall constitute an original but all of which together comprise but a single agreement. The captions of this agreement and its paragraphs and subparagraphs are for the convenience of the parties only and shall not be taken into account in the construction and interpretation of this Agreement.
All parties hereby acknowledge that they have read this Agreement in its entirety and have, to the extent which they deemed necessary, consulted with counsel before executing this Agreement.
This Agreement is binding upon and shall insure to the benefit of the heirs, executors, successors, and TCS and its agents signs of the parties hereto. This Agreement and the rights, benefits, privileges, duties and responsibilities of the parties hereto may not be TCS and its agents signed by any party hereto without the prior written consent of the other parties hereto.
All personal pronouns in used in this Agreement, whether used in TCS and its agents masculine, feminine, or neutral gender, shall include all other genders, the singular may include the plural, and vice versa TCS and its agents the context may require. The parties agree that they and, to the extent they deemed necessary, their counsel have participated in the formation of the Agreement, and that the rule of construction which provides that any ambiguity shall be construed against the drafter of an instrument shall not apply in the interpretation of this Agreement.
The waiver by any of the parties of any provision hereof shall not be effective unless in writing and shall not constitute waiver by such party of any other provision hereof or any prior or subsequent breach of provision hereof.
This Agreement shall be enforceable and interpreted under the laws of the State of issuance. Each party further agrees that it shall take any and all necessary steps and sign and execute any and all necessary documents or agreements required to implement the terms of the Agreement of the parties contained in this contract. And each party agrees to refrain from taking any action, either expressly or implied, which would have the effect of prohibiting or hindering the performance of the other party to this Agreement.
Facts
Pertaining to Corporate Financials and Tax Returns, TCS will guarantee the financial paperwork as stated with the IRS. Sales will be a minimum of $2 million (USD) as verified through the IRS 4506 Form Corporation will be a minimum of 5 years of age.
Liability, Warranty
TCS will guarantee $1.5 Million (USD) in funding. If the client chooses to cancel agreement due to TCS inability to obtain the guaranteed amount but 60% or more of guaranteed amount, the client will have the right to cancel or accept funds and finalize the process. If the client accepts funds, all fees remain in place. If the client chooses to cancel agreement with TCS, the client will need to relinquish the Monster Corporation as well as Personal Guarantor to TCS for the purpose of liquidation of corporation through corporate resolution for a maximum of 180 days. Initial entry fees will then be returned to client at completion of stock sale. At or before this period, TCS will remove Personal Guarantor from Corporate resolution. TCS a DBA of VAFGI will insure that no added liabilities or improper use of Corporation will take place if above mention cancellation takes place.
TCS Sales Representative: _________________________________
Date: __________________________
Referred By: ________________________________________________
Client Name: ________________________________________________
Client Signature: _____________________________________________
Date: ___________________________
Factoring is a method that you can used to obtain Cash when the available Cash Balance held by your company is insufficient to meet current obligations and accommodate your other cash needs, such as new orders or contracts.
The use of Factoring to obtain the Cash needed to accommodate your immediate Cash needs will allow you to maintain a smaller ongoing Cash Balance. By reducing the size of your Cash Balances, more money is made available for investment in your growth.
When your company sells your invoices at a discount to face value it will be better off using the proceeds to bolster its own growth than it would be by effectively functioning as its “customer’s bank.”
Accordingly, Factoring occurs when the rate of return on the proceeds invested in production exceed the costs associated with Factoring the Receivables. Therefore, the trade off between the return you earn on investment in production and the cost of utilizing a Factor is crucial in determining both the extent Factoring is used and the quantity of Cash that you hold on hand.
Many businesses have Cash Flow that varies. You might have a relatively large Cash Flow in one period, and might have a relatively small Cash Flow in another period. Because of this, you may find it necessary to both maintain a Cash Balance on hand, and to use such methods as Factoring, in order to enable you to cover your Short Term cash needs in those periods in which these needs exceed the Cash Flow.
You must then decide how much you want to depend on Factoring to cover short falls in Cash, and how large a Cash Balance you want to maintain in order to ensure you has enough Cash on hand during periods of low Cash Flow.
Factoring has been used by companies for hundreds of years. Some of the largest companies in the world including many clothing companies, media companies, staffing companies, medical professionals, contractors, and even giants like Coca Cola use factoring to improve their cash flow.
If your company needs immediate cash a factoring line can usually get started in seven to 10 business days, less if you can supply answers to our questions.
After the account is established you can turn invoices into cash in as little as one to two business days.
I know the application is lengthy. Don’t let that concern you. Just put down your head, roll up your sleeves, and get to work. The sooner you submit the application, the closer you are to improving your cash flow.
Five Things To Tell Your Customers About Why You’ve Chosen To Factor
1. Working with a Factor helps me fuel my Company’s growth.
Selling invoices (receivables) to a third party has been a standard business practice for hundreds of years. Our business is not in trouble. In fact, it’s just the opposite: it is growing fast and factoring accelerates my cash flow to fuel that growth.
2. Your payment terms will not change.
By working with a Factor, your payment terms can stay the same as they are today. You don’t need to pay any faster and the name on the check stays the same.
3. Your day to day contact with our Company stays the same.
I will continue to be the person with whom you discuss project related issues.
4. Working with a Factor is easy.
You will receive an original invoice and Authorization Letter with each invoice that involves the Factor. Instead of mailing a check to our business, you simply redirect payment to the Factor. The Factor should be notified if payment terms or amounts are going to change.
5. The Factor is not a collection agency.
Even though you will be sending payment to the Factor, they are not a collection agency and they will not be calling you to collect payment.
Providing capital solutions through strategic relationships, Eugene R. and GCREC’s portfolio of capital partners includes corporations, institutional investors, life companies, mid-level firms and private investment. The GCREC capital matrix assures you maximum flexibility and opportunity across the market.
UP TO $250K IN PERSONAL FUNDING!!
Personal Funding Requirements:
— 700+ Scores on all 3 bureaus
— No recent derogs
— Low inquiries
— 40% or less DTI
Business Funding Requirements:
— 2yr+ Old Corporation
— 411 Listed
— Articles of Incorporation
— Letter of Good Standing
— 80 paydex is a PLUS
— Personal Funding Requirements
To apply complete:
If you’d like to learn more about business lines of credit:
Business Line of Credit Video Course
Also enroll at http://www.creditchecktotal.com and mention that Cash Flow Specialists Inc. referred you. We’ll need your user name and password.
This is an email that I sent to a former client who had transacted business with our BLOC E provider, Mitch:
I’m sorry that Mitch has not performed.
Hundreds of banks have been either seized by the FDIC or are on the watch list http://www.fdic.gov/bank/individual/failed/banklist.html
“Problem List” Expands to 15-Year High
The number of insured commercial banks and savings institutions reporting financial results fell to 8,195 in the quarter, down from 8,247 reporters in the first quarter. Thirty-nine institutions were merged into other institutions during the quarter, twenty-four institutions failed, and there were twelve new charters added. During the quarter, the number of institutions on the FDIC’s “Problem List” increased from 305 to 416, and the combined assets of “problem” institutions rose from $220.0 billion to $299.8 billion. This is the largest number of “problem” institutions since June 30, 1994, and the largest amount of assets on the list since December 31, 1993.
Quarterly Banking Profile
http://www2.fdic.gov/qbp/2009jun/chart8.html
We have seven business line of credit providers who are funding our clients: four have no up front fees. If you are interested in learning about what works you can visit http://www.workingcapitalfast.com:
Commercial Loans
Business Line of Credit Video Course http://joetufo.com/blog/how-to-access-the-bloc-category
I will waive the $197 course fee for each of Mitch’s victims in the spirit of goodwill.
You may also apply for a business line of credit on the same page.
I have known Mitch since January 2005. I was introduced to him through my membership in the American Cash Flow Association by member advisor Bob Steenson whom I have known for about 10 years. Mitch had been successful in funding clients and I had no reason to doubt his performance.
As always I am available 7AM to 5PM M-F Pacific to serve. Incidentally we had seven clients approved for business and personal lines of credit ranging from $50,000 to $2 million in the past 10 days so qualified, viable clients are being funded.
Cash Flow Specialists, Inc. urges business owners and their advisors to make “informed choices” of whether a Merchant Cash Advance – or any working capital solution – is the most appropriate option for their business.
Education, investigation, preparation and planning informed choices become smart business decisions.
Merchant Cash Advance
Merchant Cash Advances are a smart way to get working capital for many small and medium-sized businesses. Thousands of small businesses have used Merchant Cash Advances to obtain the working capital needed to stabilize, grow, and take advantage of opportunities.
Business credit scores help lenders, suppliers and other creditors quickly evaluate whether a business will pay its bills on time.
Credit scores are complex statistical models for predicting credit risk. While there is no guaranteed way to improve a business credit score, here are a few steps you can take to ensure that your business credit report reflects the best scores possible for your situation.
Business credit scores range from 0 to 100, with 0 representing a high risk and 100 representing a low risk. Scores are based on a number of factors contained in your business credit report.
In addition to personal credit, creditors and suppliers are increasingly using business credit reports to make lending and credit decisions. That’s why it’s important to establish a separate credit report for your business.
If your business is new, or if you haven’t yet established business credit, obtaining tradelines is a great way to begin building your business credit report.
Once you’ve completed the steps above, you can request business credit in your company name. Your business trades then are reported to Experian and Dun & Bradstreet, creating a robust business credit report that gives lenders and suppliers quality information about your company and boosts your ability to obtain loans, increase credit lines and earn more favorable credit terms.
Glenn,
You were initially referred to me by Carole Phelps March 12, 2007. I met you at your Petaluma location March 30, 2007. You were looking for $1,500,000 in funding. I told you exactly what you needed to do. We enjoyed several servings of your award winning pizza and Caesar salad. You sent me home with pizza and salad dressing and said that you’d complete the application, pay our fee, and get started. Nothing happened.
You contacted me through Facebook September 19, 2009. I called and it took a couple of days for you to call back. I listened to your needs and emailed an application. The urgency of funding faded. We would have probably had the $30,000+/- that you asked about in your bank account by now with a merchant cash advance.
Up to $5 Million in Funding!
Cash Flow Specialists, Inc. and its agents have designed our Monster Corporations for business owners, investors, and entrepreneurs with capital needs. These corporations are fully documented with tax returns that are verifiable with the Internal Revenue. In addition, assets are also included with these corporations.
Our Monster Corporations are a subsidiary of a parent corporation allowing us to use its assets and cash flow. It mirrors the parent corporation and the parent company actually moves cash to the Monster Corporation to support the operational expenses.
-The Client is purchasing a Monster Corporation through a stock sale:
-Fully documented corporation.
-Minimum of score on Experian of 80
-The funding for a Monster Corporation is up to $5 million (USD).
-Upon successful funding of the corporation, the client will remit a success fee.
-The client is to have a FICO score of 735 and above. We cannot guarantee any funding amounts if client is unable to maintain his credit worthiness or by any future derogatory listing on their credit report or changes in their debts to high credit limits. Our ability to fund the Monster Corporation is up to $5 million (USD). Our vendor Hector will guarantee $1.5M (USD) in funding; however, we cannot guarantee guarantor as guarantor must maintain credit worthiness; i.e., maintain credit scores at or above 735 minimum FICO for all credit bureaus; Equifax, Transunion and Experian.
-Also, to maintain a debt to balance ratio on all personal credit cards of 30% or less, no derogatory credit and no major purchases as this could have adverse effects to ones credit worthiness which in turn can eliminate guarantor from obtaining desired line of credit.
-Free of all liens and judgments and in good standing with the state of issuance.
The cost for a corp up to $1.5m is $60,000 plus our 1% fee. The cost for up to $3m is $120,000 plus our 1% capped at $25,000. There are four openings to year end 2009: first come , first served.
The back end fee is 15% of which five points is paid to us. Funding time is 90 to 120 days.
They did close a cooperative client recently in 82 days.
