The CD 700 FICO Funding Program
This program is designed for individuals seeking funding for their business or for their personal needs. Their business can be a startup or an ongoing business. This program is open to individuals who need capital for their personal needs as well.
Qualifications for CD 700 FICO Score Funding Program
– (anything less than 700 is reviewed on a case by case basis)
Summary of Program – this is a very unique funding program that matches a qualified business that has a seasoned business credit profile and high limit credit rating with the individual with the 700 FICO score. The business applies for lines of credit using the individuals FICO. Once the credit line is approved the business gives 100% sole access and control of the credit line to the individual. A portion of the individuals fee is used to purchase a $100,000 courtesy deposit for the business and this improves the business credit rating that helps to justify the higher credit limits by the lenders. This process requires proper legal formation and legal applications including “Private Transaction” agreements. Below is a typical timeline of actions taken during the entire process of this program.
Client qualifies for the program with a 700 FICO score or better. (Just one of the three bureaus has to be 700 or higher)
Week 1.) Client fills out the FICO Funding Program application and returns with fee.
Week 2.) Matching business is identified and client is added as Officer to 1 business via Resolution 3.) $100,000 Certificate of Deposit attached to matching business
4.) 2-3 Credit line applications filled out and submitted. 5.) Phone calls made to lenders in above #4 to identify credit limits and 2 seek increase in credit limits 6.) 2-3 additional credit lines application submitted. 7.) Phone calls made to lenders in above #6 to identify credit limits and seek increase in credit limits 8.) Client receives credit line checkbooks or cards in mail
Week 3-4 9.) Round one of funding is complete.
Round #1 Funding – Goal – $50k-150K
Round #2 Funding – Goal – $125k-350K
Round #3 Funding – Goal – $250k-650K
We have worked with as low as a 680, however the CD 700 FICO Funding Program begins anywhere from 4-5 days after paperwork is complete in full with a 700+ that has no judgements or bankruptcy.
This is a fee based program that we charge for the Certificate of Deposit placement with one on one coaching with an experienced representative to expedite your funding. Additional fees apply to some lenders, funding providers and interest on funding. Cost for this program is $10,000 if you need to finance the fee, we give a $1,500 discount to those who bank wire or use a credit card to send the fee. We agree that this is not an inexpensive program however it gets results and is far less expensive than merchant funding programs that resemble a payday loan senario. On a positve note, once you get this type of funding arranged you will want to make 9 monthly payments and seek to refinance with a conventional lender as you now have a longer history with a greater high credit limits that is proof of debt service when seeking loan refinancing.