FREQUENTLY ASKED QUESTIONS
Q. What is 2for1 Credit Lines.com?
We are a network of investors and business development specialists who believe in empowering small businesses. Keep in mind that any company doing under 10 million in annual sales is considered small in the US, so we use that term relatively.
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Q. How are you different from a bank?
For one thing, for many types of financing we do, we move a lot faster. Unlike a bank, our application process is quick, easy and transparent. You can apply for a loan online in just 10 minutes, and get the money in your bank account within 2 days. We know that a credit score isn’t the only indicator of healthy business, and we also provide business grants for clients that work with us.
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Q. Why should I obtain funding from 2for1 Credit Lines.com and not someone else?
We offer competitive rates, manageable repayment schedules and don’t charge hidden fees. We also provide each applicant with a dedicated loan specialist to understand your financing needs and to guide you through the entire application process. On top of that, we work to help build your business, bring in new customers, and make your company more valuable.
Q. What is your average interest rate?
Our affordable interest rates can start as low as 6.99% and go as high as 50%. It comes down to what you are using the money for and the way you decide to structure the deal.
Q. Are there any other fees or charges?
We believe in transparency. We charge an origination fee on all the different types of funding we offer, the same as any other lending institution.
Q. Is your funding secured? What collateral does your funding require?
No, not all of our funding is secured. Because it’s our money, unlike a traditional bank, we reserve the right to give money to whoever we want to. We do provided collateral based financing, but it’s definitely not our only option.
Q. When will you check my credit score?
We will check your credit score after you have fully submitted your application and given us permission.
Q. How long does the loan application take?
After you complete our simple application, we will call you within two hours to learn more about your business and find terms that suit your needs. The next step is for you to compile and send us your supporting documents, so we can verify your application and send you loan documents. The faster you provide your documentation, the faster we can fund your loan. We’ve funded loans in as quickly as 24 hours, and we’re committed to keeping the entire loan application to less than 5 days. With your help, this process can move very quickly.
Q. What documentation is required with my application?
For loans under $200k, the only documentation required is:
· 1 year (most recent) business tax return (including W2s)
· 4-6 months (most recent) business bank statements
· Completed Simple Application
For loans over $200k, we also require the following documents:
· 6 -12 months (most recent) business bank statements
· YTD balance sheet and income statement
· Outstanding Business Loans & Credit Worksheet (available upon request)
Your application and consultation with our dedicated loan specialists is absolutely free, so employees at 2for1 Credit Lines.com will never ask for additional fees to process documents or complete your application.
Q. What factors do you consider in your underwriting process?
It depends on the type of funding you are looking for. For example, asset based funding looks more toward the value of the collateral. Traditional type of funding, similar to a bank loan requires more competitive credit, although we can get weaker credit deals done. Purchase order financing loos at the value of the purchase orders due. In general, we want to see that we can get our money back if we give it to you; the deal structure changes as the risk increases. We know however that a credit score isn't the only indicator of a healthy business. Most deals, we can get you an answer back the same day.
If you have any questions, please always feel free to email [email protected] and we'll get back to you shortly.
Q. Is there a prepayment penalty?
No
Q. Is there a daily repayment?
This is up to you. We have monthly, weekly and daily payment options.
Q. Is the information I share with you secure?
We take your privacy seriously and never share your information without your consent. Read our full privacy policy.
We are a network of investors and business development specialists who believe in empowering small businesses. Keep in mind that any company doing under 10 million in annual sales is considered small in the US, so we use that term relatively.
.
Q. How are you different from a bank?
For one thing, for many types of financing we do, we move a lot faster. Unlike a bank, our application process is quick, easy and transparent. You can apply for a loan online in just 10 minutes, and get the money in your bank account within 2 days. We know that a credit score isn’t the only indicator of healthy business, and we also provide business grants for clients that work with us.
.
Q. Why should I obtain funding from 2for1 Credit Lines.com and not someone else?
We offer competitive rates, manageable repayment schedules and don’t charge hidden fees. We also provide each applicant with a dedicated loan specialist to understand your financing needs and to guide you through the entire application process. On top of that, we work to help build your business, bring in new customers, and make your company more valuable.
Q. What is your average interest rate?
Our affordable interest rates can start as low as 6.99% and go as high as 50%. It comes down to what you are using the money for and the way you decide to structure the deal.
Q. Are there any other fees or charges?
We believe in transparency. We charge an origination fee on all the different types of funding we offer, the same as any other lending institution.
Q. Is your funding secured? What collateral does your funding require?
No, not all of our funding is secured. Because it’s our money, unlike a traditional bank, we reserve the right to give money to whoever we want to. We do provided collateral based financing, but it’s definitely not our only option.
Q. When will you check my credit score?
We will check your credit score after you have fully submitted your application and given us permission.
Q. How long does the loan application take?
After you complete our simple application, we will call you within two hours to learn more about your business and find terms that suit your needs. The next step is for you to compile and send us your supporting documents, so we can verify your application and send you loan documents. The faster you provide your documentation, the faster we can fund your loan. We’ve funded loans in as quickly as 24 hours, and we’re committed to keeping the entire loan application to less than 5 days. With your help, this process can move very quickly.
Q. What documentation is required with my application?
For loans under $200k, the only documentation required is:
· 1 year (most recent) business tax return (including W2s)
· 4-6 months (most recent) business bank statements
· Completed Simple Application
For loans over $200k, we also require the following documents:
· 6 -12 months (most recent) business bank statements
· YTD balance sheet and income statement
· Outstanding Business Loans & Credit Worksheet (available upon request)
Your application and consultation with our dedicated loan specialists is absolutely free, so employees at 2for1 Credit Lines.com will never ask for additional fees to process documents or complete your application.
Q. What factors do you consider in your underwriting process?
It depends on the type of funding you are looking for. For example, asset based funding looks more toward the value of the collateral. Traditional type of funding, similar to a bank loan requires more competitive credit, although we can get weaker credit deals done. Purchase order financing loos at the value of the purchase orders due. In general, we want to see that we can get our money back if we give it to you; the deal structure changes as the risk increases. We know however that a credit score isn't the only indicator of a healthy business. Most deals, we can get you an answer back the same day.
If you have any questions, please always feel free to email [email protected] and we'll get back to you shortly.
Q. Is there a prepayment penalty?
No
Q. Is there a daily repayment?
This is up to you. We have monthly, weekly and daily payment options.
Q. Is the information I share with you secure?
We take your privacy seriously and never share your information without your consent. Read our full privacy policy.
