Term Loans

Starting at 6% APR

Secured Loans can be a great avenue for businesses who own assets of value. These assets can enable to you to supplement a loan request or completely secure a loan. The three main types of secured loans are:

 

  • Short Term Secured Loan

    Similar to our main unsecured loan product, in some instances we can utilize property assets such as homes, garages, etc.  The benefit of this is to allow business owners to increase the available amount though the cash flow isn’t as strong.  Typical approvals in this category max out at 50% of current market value in addition to supporting cash flow.

  • Hard Money Loans

    This product is for business owners looking to purchase a building or large equipment.  These products start at $250K with no max offer. Interest is typically higher than a bank loan but terms will range from 5-30 years, clients can have sub-par FICO in comparison to bank products. Current approvals are 60-75% LTV.

 

Secured loans overall can be a great option for business owners who don’t currently have the cash flow or credit to justify more traditional funding options.

Affordable rates, transparent fees

There is only a one-time 4.5% origination fee, with no prepayment penalty.

12 months 24 months 36 months 48 months 60 months
Interest Rates 5.99% - 14.74% 8.99% - 17.49% 9.99% - 18.49% 10.99% - 19.49% 12.99% - 20.99%

Credit Criteria

Borrower FICO ≥ 620
Business revenue
(most recent year)		 ≥ $150,000
Business net income
(at least 1 of the last 2 years)		 ≥ $0
Years in business ≥ 2 years
Bankruptcies (<7 years) or criminal activity No prior history
Tax liens or judgments None current

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