Q1: A Smarter Alternative to Traditional Lending
Ans: No, we do not charge any upfront or application fees for our services.
Q2: How many trade lines or credit accounts are required on my credit report to qualify for funding?
Ans: You will need at least three open and active primary trade lines on your credit report. These trade lines should be at least one year old, though two years is preferred.
Q3: Can I use a co-signer when applying for a personal loan?
Ans: No, a co-signer cannot be used. The applicant must meet all qualifications for funding on their own.
Q4: What is the minimum credit score required to qualify for personal funding?
Ans: Your credit score must be at least 680. Additionally, your credit profile must meet other basic qualifications.
Q5: Can I qualify for a loan if I have a bankruptcy on my credit report?
Ans: Yes, but the bankruptcy must be at least five years old.
Q6: How long does a prequalification evaluation take?
Ans: Prequalification evaluations typically take 24 to 48 hours, excluding weekends and holidays.
Q7: How much time does it take to finalize the personal funding process?
Ans: The completion time for the personal funding process depends on the requested amount. Our submissions typically take 2-5 days to complete. Once approved, funds are usually disbursed within 2-10 business days.
Q8: Is income documentation required for personal funding?
Ans: In 99% of cases, income documentation is not required for loans.
Q9: Is there an all-cash funding option?
Ans: No, our personal funding is provided through major bank-issued personal lines of credit and credit cards, including Visa, MasterCard, American Express, and Discover. Once funded, we can offer guidance on the liquidation process to convert credit into cash. Approval for at least one cash line is required for liquidation.
Q10: When do I need to pay the fees for your personal funding services?
Ans: Payment is required within 24 hours of receiving each funded line. We will provide written instructions detailing the payment process for each credit line.
Q11: What forms of payment do you accept?
Ans: We accept backend fee payments through multiple methods, including PayPal, Credit Card Charge Authorization Form, Online Balance Transfer, and Direct Deposit.
Q12: Can personal funding be done using only my Equifax credit file, without Experian or TransUnion?
Ans: Yes, we can provide personal funding using only your Equifax or Experian credit file. However, we do not offer funding with TransUnion alone.
Q13: What is the maximum amount of funding I can obtain?
Ans: The maximum funding amount depends on the strength of your personal credit file, with a limit of up to $200,000.00.
Q14: Do you remove credit inquiries from my report after funding?
Ans: No, we do not offer credit inquiry removal services.
