FREQUENTLY ASKED QUESTIONS

What Are The Costs For The Loan? Are There Any Hidden Fees? What Terms Are Available?

  • We utilize a risk based pricing model, where based on your profile we will price your account in terms of the risks of our investment getting returned on time and with profit. Our cost can be as low as 8% for a 6 month term, to 20% - 30% for anywhere from an 8 - 24 month term. 

 

  • The main value of our product is that it's available if a business meets the general requirements, and can also be obtained in addition to bank term loans or lines of credit to maximize working capital availability. We do not have any hidden fees or application fees, closing fees, pre-payment penalties, etc. Most industries have the choice of 6 month, 8 month, 10 month, 12 month, and 15 month terms, with some select industries having the choice of 18 month and 24 month terms as well.

I Have A Tax Lien and/or Judgment Lien, Do I Qualify?

  • In relation to the tax lien, you qualify as long as your Federal or State tax lien has a payment plan arrangement and you can provide documentation in relation to the payment plan's structure, payment history and outstanding amount due, we have no issue providing funding with the presence of a tax lien. Secondly, in relation to the judgment lien, the same parameters are required similar to the tax lien as your judgment lien has to be on a payment plan arrangement.

 

  • In relation to the judgment lien, similar to the tax lien, you have to provide documentation in relation to the payment plan's structure, payment history and outstanding amount due, then we would have no issue providing funding with the presence of a judgment lien.

I Have A Recent Bankruptcy Filing and/or I'm Behind On My Business Rent Or Mortgage, Do I Qualify?

  • For a personal or business bankruptcy filing, as long the bankruptcy has been discharged or dismissed for at least one year and you can show documentation of proof, we have no issue providing funding with the presence of a bankruptcy on your personal credit report or the business credit report. 

 

  • In relation to the Business Rent or Mortgage, you will still qualify for our funding depending upon how many months you are behind, how much you are behind and how much you are approved for with our program. At closing we will use our proceeds to make either your landlord or mortgage holder whole.

After reviewing our solutions and resources, email us at Support@1stCapitalLoans.com or give us a call at 586-842-0511 to begin our free consultation. Our professionals will learn more about your business and tailor a customized package for your needs. We look forward to helping you grow, develop, and sustain your business!