Frequently Asked Questions (FAQs)
Both! Depending on your credit history and preferences, you will either qualify for a single line of credit or qualify for multiple lines of credit (in the form of credit cards). Most people qualify for multiple lines.
The program is designed as a “no out of pocket expense” for the client. We bill after funding so that clients can pay out of the funding we obtained for them.
No. You can submit an application to find out exactly what you qualify for and once you are prequalified, you can decide at that time if you want to proceed. Once you move forward and you are funded, you will pay 10% of what you qualify for as a consultation fee, which will give you 12 months of consultation on these lines of credit and any additional service that we can offer you.
Possibly. If you pay the initial fee with upfront cash, there are not additional charges; however, if you pay the initial fee with money out of the line(s) of credit, you may also have to pay a 3% merchant fee to the bank(s).
The interest rates vary depending on credit scores and each banks underwriting guidelines. Most clients see an introductory rate of 0% – 2.9% for 6-21 months and then average blended rates between 11%-14% with no set term for payoff.
For a single line of credit, there will be a single inquiry on your report. For the multiple lines of credit, you will see an inquiry for each card that is processed.
It can affect it positively by getting new approved lines of credit and making timely payments and it can affect it adversely by the number of cards you will fully max/liquidate and the inquiries. So initially, you may see a drop in your score, but then it will gradually increase due to payments you will be making on time. The goal of this program is to help you build capital, so you have to determine what is more important to you within that window of time – building capital or just having good credit. This is the best way to leverage your good credit without extensive documentation and collateral.
Yes, the inquiries can affect your credit score; however, we can help remove those inquiries for a fee or you can wait until after 6 months.
Once you receive all the cards, we will assist you with liquidating (or maxing out) each card to receive all the funds in cash. You can then utilize those funds for the duration of your introductory period, usually up to 24 months.
It can affect both since it is based on personal and business credit. During the initial application phase, we will determine what type of credit will work best for you.
Since each card is issued through a different bank, the cards will become standard credit cards after the initial time frame. You will have use of the card as long as you keep it open and will be charged a competitive interest rate.
Yes, whether your period is 6 months or 2 years, you can extend your credit assistance. There will be a one-time fee of 10% of the approved amount, which gives you 12 months of consultation.
As part of your initial fee, you will be walked through how to liquidate and spend your money and will also be shown how to pay off your cards to best improve your score without missing any payments.
With over 15 years of finance and business development experience, our team understands the banking industry and specific guidelines set forth by each lending partner.
A customer service is our priority and we treat each client with respect during the stressful journey of funding and business launch.
Our aim is to equip each client with the surplus capital beyond the funding they requested in preparation for the unexpected costs associated with starting and maintaining a business.
Our client portal allows our clients to know exactly where they stand at any given time, day or night, during the funding process.