What
kind of company is myCapital?
We are a nationwide financial services provider that specializes
in helping our clients obtain business loans. We provide the tools
that allow a business owner to make informed decisions and stay
focused on their business. myCapital has a team of experts ready
to coach our clients and ensure that they obtain the right product
for their business requirements. We provide members with a comprehensive
strategy to help them clearly understand their most feasible loan
options before proceeding.
What if I do not qualify or get approved
for a loan?
The good news is that even if you do not qualify for a
loan, we will work with you to create alternative solutions to
help your situation. As a member, you have many other valuable
benefits that will help you. Through our seminars and business
planning services, we will help you obtain the financial freedom
you seek.
If I get pre-approved by myCapital,
does this mean I am actually approved with a lender and can be
assured of being funded?
No. Being pre-approved by myCapital means that you have met the
qualification threshold that we require to be considered for a
loan. myCapital starts working with you by completing a full business
loan package. The package includes information on your overall
personal and business credit worthiness. First, our processing
team will evaluate the business data you provide and put it through
to our underwriting system to ensure that the ratios and coverage
metrics of your specific business profile are in compliance with
lender guidelines.
Am I obligated to accept the loan
if I do not agree with the terms?
No, you are never obligated to accept a contract that
you are not in agreement with. Once approved, you will get a specific
term sheet from our company stating the rate, fees, terms, conditions
and any additional information needed. At that point, it is up
to you to move forward.
What interest rate and terms can I
expect?
Interest rates are typically tied to the Prime Rate. Current expected
rates for very strong clients range from 5-10%, depending on the
loan type. For average clients, rates range from 7 -15%, depending
on product. Most terms last between six months to seven years.
Detailed product information is provided once you have been pre-approved
by myCapital so you can make a decision.
I have derogatory marks on my credit,
but I have a co-signer with good credit. May I still apply?
Yes. Also, depending on the time horizon since the derogatory
marks were put on your report, they may not impact our ability
to get you a loan.
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