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Loan Details

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LOAN DETAILS

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Cost ComparisonTRUE_Loan vs. CompetitionTRUE_Loan vs. Bank

  TRUE_Loan

Loan Amount …….. $100,000
Term Length ………. 12 months
Interest Rate ……… 9.99% A.P.R.
Payment …………….. $8,791 per month
Total Cost ……………. $105,493

  Leading Competitor

Loan Amount ……… $100,000
Term Length ……….. 12 months
Interest Rate ………. 9.99% Flat Fee
Payment ……………… $436 per day*
Total Cost …………….. $109,900

With TRUE_Loan you save:

$4,407

*21 daily payments made each month, 252 total payments per year

RATES

    TRUE_Loan

Loans calculated using true A.P.R. just like a mortgage

    Competition

Flat fee charged on total loan amount, non-amortized

EARLY PAYOFF

    TRUE_Loan

Pay off any time with absolutely no penalty

    Competition

In most cases, interest must be paid in full regardless of payoff date

TERM LENGTH

    TRUE_Loan

Loan terms range from 12 months to 60 months

    Competition

Most common terms range from 3 months to 24 months max

UP-FRONT FEE

    TRUE_Loan

5.99% of loan amount

    Competition

Ranges from 3-8% of loan amount

PAYMENT FREQUENCY

    TRUE_Loan

One payment due per month

    Competition

Payments due each business day or once per week

APPROVAL TIMING

    TRUE_Loan

Typically within 24 to 48 hours

    Bank

From one week to one month

APPROVAL RATIO

    TRUE_Loan

Most applications that fit general eligibility requirements (see below) get approved

    Bank

Majority of business operating loan applications are declined

CREDIT REQUIREMENTS

    TRUE_Loan

Abbreviated financial package required for approval

    Bank

Time consuming full financial package needed

DOCUMENTATION

    TRUE_Loan

Loan documents are emailed for electronic signature in minutes

    Bank

Documents require wet ink signatures and notarization

AFTER FUNDING

    TRUE_Loan

No further credit or financial review

    Bank

Financials reviewed quarterly and loan can be called in early

GET QUALIFIED INSTANTLY

Loans up to $500,000. Terms up to 5 years.

(No cost – No obligation – No credit check)

GENERAL ELIGIBILTY REQUIREMENTS

ANNUAL REVENUE

     Gross annual revenues must be greater than or equal to $100,000

YEARS IN BUSINESS

     2+ years in operation under current ownership required

CREDIT SCORE

     FICO score of majority owner should be 660 or greater

BUSINESS TYPE

     Business must be incorporated to qualify (ex: LLC, LP, S-Corp, etc)

PAST BANKRUPTCY

     No personal or business bankruptcy activity in the past 7 years

TAX LIENS

     Open tax liens must be on an approved payment plan

GET QUALIFIED INSTANTLY

It only takes 30 seconds

(What are you waiting for? Doesn’t cost a dime!)

Working Capital FAQs

What are the advantages to using TRUE_Loan by UCC instead of my bank?

The primary advantage TRUE_Loan offers over your bank is that we actually want to approve your loan. It is extremely difficult to secure operating capital from a bank, even if you have a long-term relationship with them. We also do not require large amounts of collateral or impose strict restrictions and covenants on your business.

What do you mean by No Pre-Payment Penalties?

Our loan is very unique in the fact that you can pay the loan off early at any time and not have to pay any additional interest after that point.  For example, if you take out a 60 month loan and want to pay it off or refinance it with another lender before the 60 months is over, you are free to do so.

How long must my company be in operation before I can secure a working capital loan?

We require at least 24 months of operating history under the same ownership to consider your business for a working capital loan.

Do your loans require a personal guaranty?

Yes.  Due to the fact that we do not secure any physical collateral for our loans, we do require a personal guaranty.

What are your credit requirements?

We review each loan request in depth, and requirements can change on a case by case basis. However, some general requirements would be consistent revenues, positive net income, no recent bankruptcy/judgement/lien activity and good credit (660 or above).

Can you work with challenged credit types?

If you have less than perfect credit, we advise that you call us directly at 866-205-0030 and speak with one of our specialists to discuss your options.

What happens after I click on the GO NOW button?

Once you click on “GO NOW” you will be re-directed to a simple form where you will be asked to fill out some basic information about your business.  We DO NOT pull any credit reports at this time.  Once you submit the form, you will be informed of your qualification status instantly. From that point, you can apply for a formal approval. The approval process generally takes between 24 and 48 hours.
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866-205-0030