Underwriters Guidelines

 

  Minimum Criteria 

  • 500 FICO 
  • $4-6k in monthly revenue each month 
  • 4 to 6 Income deposits each month (Depends on Industry) 
  • 67% of ownership required 
  • Max Negative Days: 7 days 

  

Loan Terms & Conditions 

  • Funding Amounts: $2,600 - $1,000,000 
  • Repayment Types: Daily, Weekly or Twice Weekly 
  • Payment Types: ACH 
  • Repayment Duration: 5 - 60 months 
  • Tax Liens: Greater than $50k need to be in a payment plan 

 

Business Entity Criteria 

  • Business must have enough money in a business account to handle debt load during and at the end of each month. (Compensating factors do apply) 
  • Our lenders fund home-based businesses 
  • Sole proprietorships are OK 1 year in business with business bank statements. 
  • No international businesses 
  • Citizenship: US Citizen 

(Permanent residents will be considered for deals up to $50K) 

  • Payoffs: Up to 4 positions; must net 50% 
  • Credit Pull: Soft (on occasion, only Soft) 
  • Credit Card Splits: Yes, in some cases 
  • Positions Funded: Up to 7th position 
  • COJ: Not required 
  • DocuSign Contracts Available on call contracts 

  

LENDERS PREFERRED INDUSTRIES 

 

Restaurants/Grocery Stores 

Medical/Healthcare  

  • Doctor  
  • Dentist 
  • Veterinarian  
  • Pharmacist  
  • Optometrist 
  • Specialty Outpatient Facilities 

Hospitality/ Hotel Motel 

Spas 

Wholesale Distributors 

Manufacturing 

Trade Contractors 

  • Plumbing  
  • Heating and Air-Conditioning  
  • Roofing  
  • Siding 
  • Sheet Metal Work 

General Automotive Repair Shops 

Business Services 

  • Financial Consulting  
  • Management Consulting 

Personal Services 

  • Hair and Nail Salons 

Retail 

Trucking/Transportation/Logistics 

Investment  

  • Financial Firms  
  • Mortgage Companies 

Online Supplements 

Marijuana 

  • All Marijuana Businesses Illegal at the Federal Level 

Oil/Mining 

Tax Preparation Firms 

Franchise Restaurants Prohibit Non-Approved 3rd Party Lenders such as: McDonalds, 7-11, Quiznos etc. 

Live Animals 

  • Pet Adoption 

Used/New Car Dealerships 

Home Based Business 

Recruiting/Staffing Agencies 

Consulting Services 

Catering 

Marketing 

 

LENDERS NON-FAVORABLE INDUSTRIES 

  

Law Firms 

Multi-Level Marketing Pyramid Schemes 

Escort Services 

Pornography 

Gambling 

  • Gaming Sites 

Non US Companies 

Online Pharmacies 

Schools (Any Non Profit) 

Start Up Business (Less than 3 months in Business) 

Credit Repair 

  • Credit Counseling 

Collection Agencies 

Real Estate/Property Management 

Insurance Brokers 

Cell Phone Stores 

Farms 

Night Clubs & Event Promotions 

 

 UNDERWRITING PROCESS 

 

  • Submission 
  • Processing & Underwriting  
  • Offers Sent  
  • Contract Sent  
  • Closing  
  • Funds Disbursed 

  

REQUIRED DOCUMENTATION 

  

Submission 

  • One-Page Application 
  • Six months of business bank statements 

  

For Contracts 

  • Copy of voided check for business account that was analyzed 
  • Copy of driver's license for all business owners who filled out an application 

 

Closing 

  • Lease Agreement/Landlord Verification 
  • Merchant Interview 
  • Bank Verification 
  • Other documentation may be required depending on loan amount 

 

Funding Disbursement 

  • An email from underwriting will be sent out oncefilehas been funded. 

 

PAYROLL 

 

Payroll information will be requested once a file has been funded, and the funding email has been received. 

Required Documentation for payroll:  

  • ISO Demand 
  • W-9 
  • Voided Check 
  • Driver's License. 

Payroll will be sent via ACH deposit 

Payroll can take up to 3 business days from the funding email.