UNSECURED BUSINESS FUNDING PROGRAM
A special note for startups.
Don’t think you can qualify? Form your own group of credit partners.
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UNSECURED BUSINESS FUNDING PROGRAM OVERVIEW
A true EIN driven credit lines from A rated banks. Establishes instant business credit by using any officer of a company’s personal credit history to expand worthiness directly to the company. This is not a working capital line of credit through an existing partnered bank. This program is designed to divorce a company owner’s personal credit risk from his or hers company’s. Credit lines that belong to the company’s EIN not the owner’s SSN.
UBF PROGRAM MINIMUM CREDIT CRITERIA
- Minimum credit score of 720 or higher
- No more than one (1) delinquency in previous six (6) months, no more than two (2) in previous twelve(12) months
- No paid collections in previous three (3) months, no more than one (1) in previous six (6) months
- No bankruptcies on the credit report whatsoever
- No open (unpaid) collections, liens, or judgments
- No more than five (5) new accounts opened in previous twelve (12) months
- Preferably no closed accounts with unpaid balances
- No more than four (4) inquiries per bureau (preferably no more than two (2) inq. per bureau)
- Must have minimum of 5 years history in credit bureau
- Must have minimum of two (2) open revolving accounts of $5,000 or higher, or one (1) of $10,000 or higher –guarantor cannot be the authorized user on these
- Utilization cannot exceed 45% in total—individual lines that exceed 45% can/will also impact funding.
This program has a 9.9% success fee on all established credit lines. The fee will be billed upon issuance of the credit line and paid by that credit line. Although each bank has different guidelines, generally credit lines come with a 0% APR for the first 6-12 months.