Q: What if I don't have a 675 FICO Score?        FROM EXIT SURVEY

A: In today's economy many good people have bad credit. We have found a company that works closely with it's clients to correct data on credit reports and in general "enhance" a client's credit scores.

Contact Real Credit Solutions at (239) 415-7325 and tell them that you were referred by The Small Business Money Store.  They may be able to help you.

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A: There is no magic to what we do on behalf of our clients. Anyone with time and expertise could do the same for themselves.

However, finding the few lenders that are still lending unsecured to Small Business owners could take you considerable time and effort. Of the thousands of lenders in America today we have managed to find less than 40 who offer "Stated Income, No Doc, Unsecured Lines of Credit."

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A: First, determine a name for your business, We suggest the name not be too descriptive, you may want to establish a different type of business in the future. Once you have the name log onto https://sa1.www4.irs.gov/modiein/individual/index.jsp It costs nothing to apply.

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A: A high Debt To Income ratio is hard to over come. the best way to reduce a DTI is to pay down your Revolving Credit debt. This will also improve your FICO score.

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A: The Small Business Money Store is able to work with clients needing more than $5000,000.  Loans greater that $500,000 are worked thru our commercial division. email: CUSTOMER SERVICE at TheSmallBusinessMoneyStore.com for complete details.

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A: All questions submitted through the Exit Survey, and accompanied with a name and valid e-mail address will be answered by our customer service dept. or you may call the office at 888-926-6660

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A: It costs nothing to apply. There's no risk and no obligation. You pay fees only when you are approved as a borrower.

It’s a credit score-based, signature only BUSINESS line of credit. Even a brand-new business can qualify. Most people can borrow up to $500,000. The fee agreement and loan application forms are just 1 page each. STATED financials for the business (not personal) are submitted.

The line of credit is permanent. Use it, pay it down and use it again. So long as you keep payments and modest annual renewal fees current it will always be there as an “opportunity fund” or “financial safety net”.

Most people can complete the whole application process in one day.

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A: Yes, however there are significant differences. We DO NOT charge ANY upfront fees. Many of our competitors: can’t offer as much money, charge much higher fees (often 8 – 12%), or don't get the applications approved.

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A: Once the application is complete, assuming you are approved you should have a checkbook within 15 days.

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A: You should know whether you’re going to be approved within 72 hours (3 Business Days).

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A: If you have a business that was created at least 2 years ago, the limit for unsecured funds is $500,000. A newer business can get $250,000. A business can even be created and the very next day it can apply for money in the $50,000 - $150,000 range.

We can also do more conventional loans of all kinds at higher amounts. Ask for details.

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A: The applicant needs to have a credit score of at least 675. In addition, there needs to have been no bankruptcy within 7 years (sometimes up to 10 years). The business needs an IRS-issued Employer ID Number (EIN). The business and the applicant both need to be domiciled within United States .

The applicant must own at least 80% of the business that’s applying. If it’s less than 80%, a number of other rules apply.

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A: We can refer you to credit repair counselors who are inexpensive ($100/month). We can also suggest some ways to reduce your unsecured debt payments.

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A: That’s fine so long as the Secretary Of State’s articles of organization reflect the fact that the applicant owns GREATER THAN 80%. The applicant must be one individual person, not a corporation.

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A: Yes, you can do it two ways. First, you can apply as a startup. Alternately, if you’ve been in business a while you can apply as an existing business. However, an existing sole proprietorship may be asked to provide an IRS Schedule “C” filing as proof of time in business.

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A: First, click on the "Click Here To Apply Now" link below. Then, complete and submit our simple pre-qual application. We will contact you via phone, normally within 1 business day, to arrange, with you, to complete your application process. During that process you will be asked to provide certain information that will be used to complete your application package to our lenders. Once your package is complete it will be forwarded to our lenders for their immediate processing.

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A: There are no fees owed until you are approved. Once you are offered a line of credit, you owe The Small Business Money Store the agreed amount. You can pay the fees out of the line of credit if you wish. In addition, the banks charge a nominal annual fee, typically $150, to keep the line open.

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A: You will be given checkbook and/or debit card access. You do not need to use the money right away. You can use a part of your line of credit right away and use the rest later. Once you have paid back principal that money can be borrowed again and again.

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A: The interest rate varies. It will be established at the time your line of credit is approved as “Prime + /- x”. This means you will pay the prime rate plus anywhere from -1% to +5%. The “x factor” depends on your credit score. You only pay interest on money you’re currently borrowing, not on the total line of credit.

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A: It’s always a point or so higher for business line that’s personally secured vs. a personal line.

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A: In some cases, but even then only after 6 months and timely payments on funds used. That’s why we recommend you apply now for all the money you might ever want to use. Who knows what kind of opportunities will arise in the future?

Also, when you increase the line of credit you will be charged a four point (4%) processing fee on the additional funds.

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A: Lenders include several national banks and some regional banks. You will be given the names of lenders suitable for your loan application when you apply.

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A: Any business purpose. Real estate, business development—even a new business. Many borrowers who have used their personal credit to finance the business use their line of credit to pay off that debt.

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A: As business owners ourselves we had the same initial reaction. However consider that it costs nothing to apply. You pay fees only on money you're approved to borrow.

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A: Yes, we do.  However it is in the form of a Strategic Partnership with businesses which have their own client base that could use our services. Our partnership agreement is structured in such a way that allows our partners to control the invoicing of their clients while we invoice the partner for our services. For additional info contact George Dooley at 888 926 6660 ext 108 or e-mail: ceo at thesmallbusinessmoneystore.com

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A:You can tune into our radio show at:

 

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A: Whether you decide to work with us or not - PLEASE DO NOT LET ANYONE TALK YOU INTO PAYING ANY FEE PRIOR TO YOU RECEIVING YOUR MONEY FROM THE LENDER. In the last two weeks I have spoken with new two clients who had previously lost over $17,000 to upfront payment Lending SCAMS!

 This situation makes me sick.

George T. Dooley
CEO & President
The Small Business Money StoreTM

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