  |
||
|
|
|
 |
|
 |
 |
 |
 |
|
 |
Frequently Asked Questions Who is Darbson Funding? We are a nationwide Business Financial Services Firm specializing in Unsecured Lines of Credit for Small Business Owners. We work with seasoned businesses (Minimum 2 Years in Business), and also with startups by helping to secure an Aged / Shelf Corporation in order to assist with qualifying for credit. We offer a much higher level of certainty and convenience than going at it alone by structuring your Application Package correctly and submitting to the Lenders that we know from experience are most likely to approve your request. Darbson Funding is located in Dallas, Texas, and is managed by Brad Wilson. What types of Financing do you offer? We provide ONLY Business Unsecured Lines of Credit, and Credit Cards, including an Aged/Shelf Corp package when required. WE DO NOT CHARGE UPFRONT FEES! I have had some credit problems in the past, can I still be approved? As long as you have not had any bankruptcies in the last 10 years, or any re-possessions, foreclosures, etc. in the last 7 years, then you may be approved, assuming you meet the normal qualification criteria. If your credit problems are more recent than that, then you probably will not be approved. We evaluate more than just your credit scores, such as your debt to income ratio, trade lines and number of credit inquiries, among others. If I have bad credit but have a co-signer with excellent credit, can I still get pre-approved? We will certainly consider this as an option. If you have a Co-Signer (aka CFO, Credit Partner, etc.) with excellent credit, we will perform the financing in the name of your Co-Signer, and assuming your Co-Signer qualifies, the Credit should be approved. It is strongly advised that your Co-Signer is either a close family member or direct business partner. Please note that we cannot accept your Co-Signer as someone that does not have an existing relationship with you (i.e. advertising online for credit partners is not accepted). Call to discuss your particular request. When you say No Doc, do you really mean I do not need ANY documentation to be approved? YES! In most cases you can be approved with no documentation whatsoever. Sometimes, however, a Lender may ask for verification that your business exists, or a copy of your Driver License to verify your identity, or a phone bill to verify your address, or something of this nature. These are simple documents you should have readily available. We will assist you throughout every step. All that we need to get started is here. Is my credit information safe and secure? The protection of your confidential information is of utmost priority. We make every effort to protect all credit and personal data. We have never experienced a breach of client information. The information that you share with us is only used for our internal underwriting and application purposes. What fees do you charge? We do not charge any upfront fees of any kind, so there is no risk to you. The only fee that is due to us is after you receive your funds, which we will explain to you in writing once your Application has been accepted. If you require an Aged / Shelf Corporation, we can also take the cost of this out of your funding proceeds. Note that in the event you require an Aged / Shelf Corp, and you are Pre-Approved, it is extremely likely you will achieve the appropriate funding amount, as we invest a significant amount of funds (upfront) in contracting with you as our client. In other words, we have an investment in you as our client. How much money can I borrow? The amount of money you can borrow will depend mostly on the strength of your Credit History, but will also take into account the amount of time you have been in business, your location, your debt ratio, etc. If you are a new business owner or startup, we can supply you with an existing Aged / Shelf Corporation - in your name. If you have an existing Corp. or LLC, and have been in business for more than 2 years, we can likely leverage your existing business and secure the funding on your behalf (also assuming necessary credit qualifications) . Overall, the stronger your credit, the more you can qualify for as you may be able to borrow well over $150,000. Can
I make application for personal credit during this process? We
must ask that you not make any application for credit of any kind throughout
the entire process. Any
application for credit (or even a simple credit inquiry) can affect your
personal credit score and/or may affect our ability to secure business credit
on your behalf. Do I need to be a United States citizen in order to qualify for an approval? Yes, the applicant must be a United States citizen, with a sufficient credit history. We generally approve qualified clients that reside within the United States. Do you accept CPN's? (Credit Privacy Numbers/Credit Profile Numbers) This is one of the most popular questions we receive. While CPN's may be legal (if used properly), the industry for CPN's is largely questionable and can be considered highly illegal, if used improperly. We will only accept legitimate Social Security Numbers from our clients. A statement of caution: An attempt to use a CPN separate from your valid SSN / DUNS ID, may be considered file segregation, and can carry jail time and a fine, and/or likely a visit from the FED's. You may visit http://www.ftc.gov for more details. Please do not attempt to make application with us using illegal 9-digit numbers, altered SSN's or fake DUNS ID's or EIN's. Regarding the application package, will you accept a credit report from a service other than MyFICO.com? If you have recently pulled your credit from another service (such as TrueCredit.com), we will consider it for initial evaluation. Upon review, if we feel your scores and credit profile are generally acceptable, we will then ask you to pull a credit file from MyFICO.com. This is required by our underwriting firm and is mandatory for final analysis and pre-approval. BONUS: When ordering from MyFICO, use coupon code "CPPSAVINGS" for a discount! Will the Bank(s) pull my credit report? Yes, the bank(s) that we make application with on your behalf will pull your personal credit file, and this will show as an inquiry on your personal credit. This is why we ask you to pull your own credit through MyFICO.com, since pulling your own credit will not show as an inquiry. We make every effort to eliminate unnecessary credit inquiries. How will this affect my personal credit? Your personal credit will not be affected. We are establishing business credit, in the name of your Shelf Corporation. Many do not realize that a business credit profile is treated separately from a personal credit profile. Keep in mind that once your credit is in place, it is your responsibility to maintain your payment obligations and good standing with the bank(s). What do I do if a bank calls me to ask questions about the application? This will be explained to you in detail, by our underwriting office. In general, you are not obligated to speak with any banks that may call you. Most times, they may call just to verify your identity or your address for their compliance department. We prefer that you simply notify the underwriting office and they will handle the call on your behalf. However, it is unlikely that you will receive a phone call as most correspondence is sent via mail. What type of Credit Lines can I expect to receive? Due to the current nature of the credit markets, we generally provide our clients with a mixture of Business Credit Lines and Business Credit Cards (that function as a “credit line”), all in the name of the Corporation. The Credit Lines / Credit Cards will typically include a revolving credit line and may come with a checkbook, cash advance checks and/or credit card. Most of our clients find that it is to their benefit to have more than one credit line / card, as this eliminates their obligation and risk to one specific bank or lender, and may also help to quickly build their business credit profile (ex. Paydex Score). What interest rate should I expect to pay? The interest rate will vary depending on your Credit History and the Lender we place your financing with. Usually the rate is around Prime + 1% to Prime + 6%, but can in some cases go up to Prime + 9.9%. In many cases, you may be offered an introductory rate of 0% interest for a specified period. In the end, the better your Credit History, the better the rate you will receive. What are the repayment terms of the Loans and Lines of Credit? Clients will very likely end up getting a Line of Credit instead of a Loan because the payments are lower and it gives them more flexibility to charge and pay back as needed. Monthly Payments on Credit Lines will generally be 1% to 3% of the outstanding balance, so if you borrow $50,000 your monthly payments would be between $500 and $1,500 per month, a good part of which will be principal, and another part interest, depending on your interest rate. Are there any pre-payment penalties for paying off my Credit Line(s) early? No, usually not. How long does it take to get pre-approved and funded? Once we receive your application package, we will pre-approve you within about 48 hours. Due to our strong relationships with our lender partners, we will have a very good projection of your approval amounts before we begin the funding process. We offer two basic Programs:
Can I choose the Shelf Corp? Because of the volume of clients that we serve, we cannot allow you to pick and choose from a list of available corps. However, we use your application information to provide a name and type of Corporation or LLC that best suits your particular business. In addition, if you prefer, we can change the name of the Shelf Corp to a new name that you prefer (assuming that this name is available through the Secretary of State). Please discuss this with underwriting. Where is my Shelf Corp office address? Included with your Shelf Corp., we will provide a physical office address, phone and fax number package (prepaid for two months) that is in the name of your Corporation. This location will have a physical street address, and will be assigned within close proximity of your home or residence. What is included with the Shelf Corp package? We typically provide a minimum two-year (or older) Nevada Corp or LLC, with one full year of Nevada Resident Agent Services. Please note that we offer TRUE shelf corps - with nothing attached - no negative history such as tax issues or reinstatement. And aside from a local office address, phone and fax package (prepaid for two months), we will provide 411 listing in the national database and a Federal EIN. In addition, you will receive Certified Annual List of Members, Certified Articles of Organization, Nevada Certificate of Good Standing, Foreign Qualification in your home state, Operating Agreement, Schedule A and Misc. Minutes and Corporate Resolutions for day-to-day operations, among other items. *NEW* We now also include an existing business checking account, from a major US Bank, pre-established and in the name of your corporation! Do you register the Shelf Corp with Dun and Bradstreet (establish a Paydex Score)? No, we do not. In order to successfully (and properly) build a Dun and Bradstreet/Paydex Score, it generally takes a minimum of 60-90 days, or more. The unique design and overall goal of our services is to provide our clients with quick and effective funding – generally within 30 to 40 days. We are experts at providing Unsecured Business Credit and have strong relationships with banks nationwide that fund these programs. However, if you prefer, we can also help you to establish a proper Paydex Score after initial funding is complete. Please consult with our office for further information. What are the fees I am paying for your services? Our fee structure incorporates two primary services: (1) the cost of Corporate/Business Credit funding services, and, (2) the cost of Shelf Corporation services (as required). Please note that in some cases, clients may not need a Shelf Corp, as they may have a sufficient corporate entity already in place - qualified for credit - therefore, we would only charge for the cost of funding services. We ask that you inquire for the cost of our services. Is there a way to speed up the process? Yes, you can speed up the process by communicating efficiently, and by filling out and returning any documents that we may need, as quickly as possible. If
you pre-approve me, does that mean I am actually approved and will be funded?
No. A
pre-approval simply means that you have met the minimum qualification criteria
and that you are very likely to be approved and funded by the Lenders we
submit your Application Package to. When we pre-approve you, it means we have
decided that it is worth our time and expense to work with you, and that we
are willing to spend the time and money doing what needs to be done to get you
approved and funded. For this reason we only pre-approve you if we believe you
are very likely to be approved and funded by our Lenders. Do you provide client references? Due to the extreme confidential nature of our business, we value and respect the privacy of our clients, and do not divulge this information to prospective clients. Is
it possible to request more funding in the future? Once your
funding is complete, and assuming you still qualify, we may consider (at your
request) another ‘round’ of business credit funding. In other words, we have many clients that come back to us for
additional funding, and we would be happy to assist with this request.
Also keep in mind, that by maintaining timely payments, you will
eventually build up your business credit score (Paydex, Experian, Intelliscore,
etc.) and may likely qualify for additional / larger credit lines in the
future. I am a prospective referral source. Do you offer client referral fees? A large portion of our business is generated by referrals and from satisfied clients. We gladly accept client referrals, however, we are rather selective with whom we work with on a broker level. Please inquire with our office to discuss.
|
 |
|
 |
|||
 |
 |
1565
W Main St, Ste 208-250, Lewisville TX 75067-3397 |
NO
Upfront Fees