General Guideline
Minimum FICO of applicant should be 550, however, the higher the FICO, the better the rate and term that will be offered.
Must be Current With Landlord and Mortgage- Both Verified.
Minimum Monthly Gross Sales Revenue Should be $25,000. (gross= cash + credit card sale deposits)
No open BK's. Bankruptcy must be dismissed/discharged for at least 1 year.
Time in Business Required- 3 months, but, prefer over one year.
Bank Statements should clearly indicate positive cash flow with little NSF activity and positive beginning and ending bank balances.
Competitor Balances are allowed, however, we must analyze to determine if the NET cash left after paying off competitor will assist your business objectives. We prefer small balances to payoff.