Loan Requirments at a Glance

 
Standard
Transfer Acct
Bank only
FTR (aka lockbox acct)
Opportunity Loan
ACH
TXA
Time in business
1 year - need only accept credit cards for 3 months
1 year - need only accept credit cards for 3 month
2 years
2 Years ‐ NEED ONLY TO
ACCEPT CREDIT CARDS FOR 3 MONTHS
2 Years
Minimum Credit Score
600
600
620
540
500
Statements
3 Bank, 3 Merchant
3 Bank, 3 Merchant
6 Bank
3 Bank, 3 Merchant
3 Bank, 3 Merchant
OR 6 Bank
3 Bank, 3 Merchant
Min transactions per month/Monthly avg. volume
20 swipes / $3,000
20 swipes / $10,000
5 Deposits
100 Swipes/ $10,000
5 deposits
100 Swipes/ $10,000
Min. Avg. Monthly Bank Bal.
$5,000
$0
$3,000
$5,000
$0
$3,000
$0
Min. Monthly End Bank Balance
$5,000
$0
$3,000
$0
$0
$0
$0
Max. Neg. Days
3 per month - 6 in any 3 consecutive months
6 per month - 10 in any 3 consecutive months
3 per month - 6 in any 3 consecutive months
6 per month
10 in any 3 consecutive month period
3 per month
6 in any 3 consecutive month period
Max. NSF's
5 per month - 10 in any 3 consecutive months
10 per month - 20 in any 3 consecutive months
5 per month - 10 in any 3 consecutive months
10 per month - 20 in any 3 consecutive months
5 per month
10 in any 3 consecutive month period
Typical Maximum Amt Approved.
The lower of 2x Processing or 5x avg. daily bal. (based on 12 month loan)
1x monthly Processing Volume
2x monthly Processing Volume
1x monthly Processing Volume
The lower of 2x Processing or 2x avg. daily bal.
Annual Revenue
$100,000 +
$100,000 +
$100,000+
$300,000+
$300,000+
% Ownership Required
80%
80%
80%
50%
50%
Notes

* Site visit required on all approved accounts over $50,000 or lexis Nexis score not equal to 50/50

* Home Based Businesses Requirements

  • Must accept Credit Cards or paypal
  • If Paypal is their only credit card receipt method, deal will be underwritten using bank balances, not paypal activity.
  • If retail, must have storage location for inventory