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Bank/Non-bank lender Term Loan Program

Product Overview

Loan Size: $30,000- $350,000

Loan Description: Bank/Non-bank Lender Term Loan

Use of Loan Proceeds: Working Capital, Debt Refinance, & new equipment purchase

Time To Funding: • Pre-qualify in 24-48 hours • Funding as fast as 15 business days after application is complete

Interest Rates: Fixed interest rate from 6.99% to 26.992

Loan Term: 3 months to 60-months repayment terms with no prepayment penalty

Payment: Monthly/Weekly/Daily payments are debited from checking account

Fees: • Between 6% - 10% processing and packaging fee and between $750 and $1,300 for other loan closing fees

Security: • Lien on business assets • No minimum requirement for the value of those assets

Qualifications and Borrower Eligibility

Minimum Personal Credit Score: 650

Minimum Annual Revenue: $100,000

Public Records: • No bankruptcies or foreclosures in past 3 years • No outstanding tax liens

Cash Flow: Cash flow to support loan payments

Basic Eligibility: • 1+ years in business • Business Owner(s) must be U.S. citizen(s) or Lawful Permanent Residents • Excluded industries include religious teaching, primarily political and lobbying activities, oil wildcatting, mining, mortgage servicing, real estate development, bail bond, pawn or private clubs, tobacco related businesses, among others • Non-profit businesses are ineligible • Business must be able to demonstrate repayment ability from earnings

Use of Loan Proceeds: • Working capital, e.g. payroll, inventory, marketing, finance receivables, bookkeeping and legal fees, hiring • Refinance existing business debt • New equipment purchase • No Acquisitions

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