Mary's Startup Funding
Mary is 42 years old and has an idea for a new business venture. Mary has an average credit score of 704. She estimates that she needs $430,000 to start her new business. After going through the credit process, Mary get accepted for a $72,000 loan with 0% interest for the initial 19 months. Mary has one more business partner and some friends that like to invest in her business as well. Her business partner Jake qualifies for $160,000 unsecured credit, while her two investor friends qualifies for the remaining $210,000.
The combined terms ended up with 0% interest for 18 months, which leaves Mary and her partner Jake with plenty of time to start generating a positive cash flow.
PART II: Mary and Jake managed to successfully get a positive cash flow within the first year. They now see an expansion possibility, where they need an additional $250,000. With the business being operational for more than 6 months and with an increasing credit rating, Mary and Jake want to restructure the debt they currently have and also lend an additional $250,000. Due to MyUnsecured.Loans, Mary and Jake qualifies for new credits on their business, while managing to restructure the current credit lines into a new interest free period of 24 months. By applying for the loans in two steps, Peter and Jake has now managed to loan $680,000 with a 3.5 year period of 0% interest.
Andy Is Buying A New Car
Andy has found his dream car. The only problem is that it costs $65,000 more than what he currently has. Andy applies for an unsecured credit. Due to his good credit score of 741, Andy qualifies for a $125,000 loan with 0% interest for the initial 21 months.
Anna & Terry's House Purchase
Mary and Terry have found a new home they want to purchase. They however need an additional 260,000 in down payment to purchase the house and $50,000 for renovations. Both Mary and Terry has excellent credit scores and qualifies for $170,000 each with 21 months interest free period which enables them to purchase their house and complete the needed renovations.
Ray's Personal Loan
Ray has recently lost his job and need a short-term loan to cover his and his families living expenses until he can find a new job. Ray has had a high paying job for a long time and his credit score is excellent. Ray qualifies for a $160,000 loan for 16 months of 0% interest. Ray manage to secure a new job within 6 months and with the help of the loan, they didn’t have to change their living standards and could stay in the same house and keep the kids in the same schools.
Bob's Personal Bridge Loan
Bob is struggling with payments due to his student loan. Bob sees a clear track to a promotion, but it will most likely not happen within the next 9-12 months. Bob qualifies for a 43,000 loan with 0% interest for 15 months. Bob also knows that if the promotion and pay increase is delayed, he can also restructure the loans into a longer-term loan with additional 0% interest. After securing the loan, Bob get his promotion after month 5.
Jane's Startup Funding
Jane has a credit score of 682. She is having a hard time to qualify for any loans, especially unsecured. Jane wants to start her own coffee shop, but she needs $85,000 to do it. With the help of our underwriting, Jane is coached in how to improve her credit score to a level where she can qualify for the unsecured credit line she needs. After 2 months of works, Jane qualifies for a $88,000 loan with 0% interest for 15 months, which enables her to start her new coffe shop.