Unsecured Credit & Loan Program (UCLP)
Frequently Asked Questions
How long is the funding process?
It typically takes 2-3 weeks from the time you submit all of your required documents to complete the funding process.
What will my interest rates be?
Interest rates are usually in the 7% to 24% range, averaging around 12%.
Can I secure financing other than credit cards?
Yes, you can also secure loans and lines of credit, however, these financing options require proof of income (i.e. paystubs, W-2's or tax returns).
If you are able to provide income documentation, please ask your funding advisor about this option.
What is a "Credit Stacking"?
Because most individuals and small business owners do NOT qualify for a single loan or line of credit above $50,000, Credit Stacking provides the opportunity for you to secure up to $250,000 in combined loans and lines of credit.
What are credit inquiries?
A soft inquiry occurs when you check your own credit or when a lender or credit card company checks your credit to pre-approve you for an offer. Soft inquiries do not appear on your credit report and do not impact your credit scores.
How will you know which applications I've been approved for?
This allows us to keep track of your progress and helps us guide you through the funding process.
Will this process increase the "Hard" inquiries on my credit profile?
By matching your profile with the right lending sources, we're able to reduce the number of "Empty" inquiries (Inquiries that do not result in an approval).
If you are able to provide the required income documentation to secure cash loans, you can get pre-approved for up to $250,000 without a single "Hard" inquiry appearing on your credit profile.
Once you're pre-approved, you can choose the loans with the best rates and terms. At your request, we will lock the loans you've selected and only those loans will appear as a "Hard" inquiry on your credit profile.
Will I secure more than one loan or credit card during this process?
Due to this fact, our process is designed to ensure you are able to maximize your funding opportunity through multiple loans and/or credit lines.
What is a "Success Fee"?
A success fee is a fee charged to assist you in securing the funding you desire.
We call it a "Success Fee" because it's a performance based fee that is only charged after you have successfully secured funding.
How do I pay your "Success Fee"?
First of all, our success fees are only paid once it is confirmed that you have received funds in hand.
Once we have confirmed that you have received funds, we will issue an invoice for the amount due based on the amount of funding secured.
48 hours later, you receive a credit card in the mail with a $12,000 limit. We send you an invoice and you activate the credit card and pay the success fee from the $12,000 on the card.