F.A.Q’s for Cash2Checking

Frequently Asked Questions

How can I qualify?

620+ credit scores across all 3 credit bureaus 3 or more active trade lines

Credit utilization ratio must be 50% or less 2 or less inquires in the last 60 days Bankruptcy must be 2 years old

Minimum annual income must be at least $30,000/year All loan applications must be in personal name of borrower
All clients must have personal checking accounts.

Self-employed applicants must provide 2 years of self-employed tax returns

What documentation must I provide?

Required documents:

  • Signed Consulting Agreement
  • Color copy of driver license (front and back)
  • Utility bill including residential address
  • Copy of tri-merge credit report
  • Proof of Income- 2017 W2, 1099, or 2 years tax returns if self-employed
  • Recent 2 paystubs if 1099 or W-2 employee
  • 2 months bank statements Voided check from your PERSONAL checking account

Will I know ahead of time what I could possible get for funding?

Yes. This comes in the form of projections. The underwriter will be able to give you projections of your funding upon receiving you requested documents.

Will I receive a portion of my loan proceeds as a credit card or line of credit?

No. Loans are funded solely in cash which is direct deposited into a personal checking account designated by the applicant.

How much can I qualify for?

Loan amounts vary on a case by case basis, however once approved, we fund $25,000 to $250,000 cash in 5-7 business days.

How long does it take to get approved?

Clients are approved in 24-72 hrs after submission to underwriting.

What are the terms of the loans?

Rates start at 7% interest for 3-7 year terms with no prepayment penalty. Payments are principal and interest.

How long will it take for me to receive cash in my bank account?

5-7 business days.

What can I use the money for?

Cash can be used for any purpose.

Are there any upfront fees or application fees for this loan?

No. There is however a 15% Funding Fee which is 15% of total loan amount. Ex. $100,000 in funding x 15% = $15,000. This amount will be deducted from funds received.

Can I get additional funding immediately following my unsecured funding?

Absolutely yes! The program is called the Quick Line Of credit or LOC of which could add to your funding. The underwriter will explain the program in full detail on your compliance call.

Will I get a full break-down of all my approvals?

Yes upon getting you projections, you will have a compliance call to explain the process of pursuing unsecured funding. This is the time to get all your questions answered by the person who is working to get you funded. The underwriter works with you and not against you.

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