Q1: Will we need to pay any upfront charges with your personal funding services?
A: Majority of the time there is no upfront fee but in certain cases there may be a small application fee.
Q2: How many trade lines/credit accounts will I need to have reporting on my credit in order to qualify for funding?
A: You will need at least 3 open and active Primary trade lines on your credit report. Trade lines should be at least 1-year-old however 2 years are preferred.
Q3: Can a co-signer be used when applying for a personal loan?
A: No, a co-signer may NOT be used. Whoever is on the loan application must meet all qualifications for funding.
Q4: What is the minimum credit score required to obtain a personal funding?
A: Depending on the funding amount, program and source the minimum is 680. In addition, your credit profile must also meet other basic qualifications.
Q5: Can I still qualify for a loan with a Bankruptcy on my credit report?
A: Yes, numerous funding products allow for a BK but must be at least 5 years old.
Q6: A review of the General Information will take approximately how long?
A: The review will take typically 1 to 3 business days.
Q7: How long does it take to complete the personal funding process?
A: Depending on the amount of requested funds, the funding source and the client providing all the required documents in can take from 1 to 2 weeks but in numerous funding only 4 to 7 days
Q8: Will Income documentation be needed for personal funding?
A: Income documentation in numerous funding are not required but depends on the type of funding of loans.
Q9: Is there an ALL cash funding option?
A: No, personal funding comes in the form of major cards being issued, personal lines of credit and cards- such as: Visa, MasterCard, American Express and Discover. Funding on numerous programs may be check or direct deposit, or wire transfer.
Q10: When will I be required to pay the fees for you providing the personal funding services?
A: Payment is due either at time of funding or within 24 hours receiving funding. This will depend on type of funding and the funding source.
Q11: What forms of payment will you accept for payment?
A: We collect our fee via several methods of payment: PayPal, Credit Card Charge Authorization Form, Online Balance Transfer, and Direct Deposit.
Q12: Can you do personal funding using only my Equifax credit file and not Experian or Transunion?
A: We can do personal funding using only Equifax credit or only Experian. We do not provide funding with Transunion only.
Q13: What is the max amount of funding I can obtain?
A: Based on the strength of the personal or business credit file and the funding program.
Q14: Will you be removing credit inquiries from my report following funding?
A: No, we do not provide removal of credit inquiries.
Q15: What is the minimum amount of funding available through your personal funding services?
A: The minimum amount of funding we will submit for is $20,000. However, approvals can come back lower than that amount.
Q16: Do you provide credit repair services?
A: No, we do not provide credit repair services.