Frequently Asked Questions
Q. How long does credit repair take?
A. It can take between 30 and 180 days. You can't expect years of financial disasters on your files to come off in a few days. We do have some amazing contacts who can expedite this process. We do have alternatives for poor credit clients. Talk to a mentor for details!
Q. How long do the funding processes take?
A. It depends on personal credit scores and the type of funding we use for each situation. It can take as little as 10 days or several months. Aged Corporations typically take around 45 business days. However, we don’t guarantee any specific time frames. Financing is too much of a moving target with unique situations for everyone.
Q. What do I do with the funding once I get it if I don’t have a specific idea or business?
A. We have dozens and dozens of income opportunities that are proven and time tested to make you large amounts of money. In addition, our Mentor Coaching Opportunity is about the easiest way to make gigantic amounts of money with very little effort. Just help other people obtain financial independence. We pay 2% of the backend success fees for every new client. One Million Dollars in funding to someone makes you around $20,000.00!
Q. Can I obtain funding for personal or business without taking any financial education training?
A. Of course. You may be smarter than we are. In that case, you can teach us. We just want to make sure that we protect our "Golden Geese". These banking and private money contacts are our Golden Geese. How long do you think they’d be around if we kept sending them incompetent clients? Besides, the system we have developed can make you the largest amounts of money, in the quickest amount of time, with the least amount of effort and expenses.
Q. Can you help with purchasing Real Estate, Franchises, Businesses, or other income producing opportunities?
A. We have a 6-month mentoring program with an amazing contact who will help you obtain virtually any type of investment with 100% financing! You won’t even need your funding for this! There is a cost on this, but it’s worth 100 times the small cost.
Q. How does the Millionaire Mentor Crash Course work?
A. Once your major funding comes in and the backend success fees are paid, we fly you all- expenses-paid for a weekend Millionaire Mentor Crash Course and give you a world class education and teach you EVERYTHING YOU NEED TO KNOW TO BECOME FINANCIALLY INDEPENDENT. This is a 2-3 day, course packed with information. If you know what you’re doing you don’t need a lot of space or time. They are expensive.
Q. Do you have a refund policy on any of your products?
A. Our contacts offer various degrees of protection on funding, credit repair, and other services. We are merely the referral source for these services. We are not investment advisors. We offer financial educational materials. Period. If for any reason you do not perform we cannot give any refunds. If we fail to perform, we offer a refund if requested, less any consulting costs. Refunds are processed within 30 days.
We are not direct lenders and cannot guarantee any funding. Please understand this. If for any reason you can't be funded, other than incompetence or fraud on your part your money will be refunded within 14 days or applied to any other funding program we have! It's also important to understand that programs close from the banks' end. Sometimes quickly in a day without notice. We are not gods here, we are mortals and if you can't understand we don't control these funding options, then don't do them. It's that simple.
Q. Why are there expensive backend success fees with funding?
A. First of all, if you take an investor on any project they will take 50% forever, then end up owning your company. If you go after Hard Money Lenders, they charge 3-8% and 15%-20% for a few months’ time. That’s over 80% a year! Money is not free, it’s very expensive, but it’s not your money. Remember that. Processors with inside relationships and years of experience know how to get large amounts of money. They want to be paid for it.
Another thing to remember is that we offer referral commissions that are staggering. The 2% referral commission we pay with new clients averages about $20,000 in commissions. That’s just for helping someone become financially free and changing their life!
Once your funding fees are paid you can make boatloads of money just giving out your "Mentor Coach" business cards we provide you with when you're funded. One new client a day is $20,000.00 a day.
Q: Will we need to pay any upfront charges with your personal funding services?
A. No upfront fees or application fees are charged with many products. However, some products require consulting costs, purchases of documents, and other costs. No one works for free.
Q: How many trade lines/credit accounts will I need to have reporting on my credit in order to qualify for funding?
A: You will need at least 3 open and active primary trade lines with at least $10,000 on your credit report. Trade lines should be at least 2 years old. If you don’t have these three lines, our contacts can help.
Q: Can a co-signer be used when applying for a personal loan?
A: Yes! a co-signer may be used in several funding options.
Q: What is the minimum credit score required to obtain a personal funding?
A: Your credit score must be a minimum of 680. In addition, your credit profile must also meet other basic qualifications. However, With CPN or Ready Made Aged Corp funding, no minimum FICO score is required. This is the shortcut to funding with bad personal credit.
Q: Can I still qualify for a loan with a bankruptcy on my credit report?
A: Yes, the bankruptcy must be at least 5 years old.
Q: How long does the prequalification evaluation usually take?
A: Prequalification typically take 24-48 hours, not including weekends and holidays.
Q: How long does it take to complete the personal funding process?
A: Depending on the amount of requested funds, it takes about 2-5 days for us to complete our submissions. Funding times depend on the type of funding we are going after.
Q: Will income documentation be needed for personal funding?
A: Income documentation is not needed on 99% of loans.
Q: Is there an ALL cash funding option?
A: Yes, many of our funding comes in as a loan deposited to your account, however, our personal funding comes in the form of major bank issued personal lines of credit and cards, such as: Visa, MasterCard, American Express and Discover. Once funded we can provide some tips and guidelines for the liquidation process, to convert credit to cash. Must be approved for at least one cash-line to liquidate.
Q: When will I be required to pay the fees for you providing the personal funding services?
A: Payment is due within 24 hours upon receiving each funded line. We will provide you with written instructions regarding payment of each credit line.
Q: What forms of payment will you accept for payment?
A: We collect our backend fee via a variety of methods: Credit Card Charge Authorization Form, Online Balance Transfer, eChecks, Bank Wire, Moneygram, Western Union, Direct Deposit, Net Spend and we can sometimes work on other payment options.
Q: Can you do personal funding using only my Equifax credit file and not Experian or Transunion?
A: We can do personal funding using only Equifax credit or only Experian. We do not provide funding with Transunion only. Some funding uses all three bureaus.
Q: What is the max amount of funding I can obtain?
A: Based on the strength of the personal credit file we can fund up to a maximum of $1,000,000.00 or more.
Q: Will you be removing credit inquiries from my report following funding?
A: No, we do not provide removal of credit inquiries. We have contacts who do, in order to maximize your total funding and credit lines.
What you can expect from your lines of credit, including banking costs and terms:
1. Stated Income. No income documentation is required to qualify. No business plans required except for our Aged Corp program that is Personally Guaranteed by one of several wealthy business entrepreneurs.
2. Unsecured. This product is completely unsecured, non-collateralized. It is personally guaranteed by you. On many occasions the aged corporation stands on its own without any personal guarantee.
3. Use of funds: You can use the money for any purpose, at your sole discretion. Ideally the money should be used for business investment, growth, and financial education using our processes.
4. Qualifying. You will receive a response usually within 72 hours, along with a Contract for Services that outlines some basic items that may be necessary to complete the file and our services. Several of the banks won't approve until they actually confirm your identity via phone call to your home. This protects both of you from fraud.
5. Performance Guarantee Fee: The total performance fee we charge upon obtaining you funding is 20% of the total amount funded. This is required to be paid within 48 hours (see agreement for terms). For your convenience, this is paid through your business ACH automatic payment, credit card, or other.
6. Credit Scores: There is no minimum score. Every profile is unique and may be able to be improved on very quickly to qualify and receive funding.
7. You retrieve your own credit report by establishing an account with www.creditchecktotal.com for just one dollar. This company is owned by one of the 3 major credit agencies (Experian) and when you get your credit this way, it is a “soft pull” and does not show up as an “inquiry”. You will join their monitoring service, which is $30/month. Remain a member until the credit line is in place; then you can cancel your membership if you wish. Sometimes you can cancel within the 7-day trial.
8. Application: Complete our simple application, and email your report and the application back to us. If you have any questions, please contact us.
9. Service. What sets us apart is the white glove service in analyzing your credit and suggesting to you what could be done to maximize your line, if needed. Underwriting staff handles this, and we have many resources to help you maximize the amount of personal and business funding.
10. Business Credit Profile. This product will help build your business credit profile.
11. Minimum Credit Score. Generally 680. Credit scores can be raised, so even if yours is lower, you should still apply.
12. Derogatory Credit Items. If you have any unsatisfied tax liens, judgments, or collections, they must be cleared prior to approval. If this applies to you, we may be able to provide funds for you through a Merchant Cash Advance or an ACH Advance on your business checking account, and consumer financing programs we have in place to help you.
FAQ on the Private Money Funding!
What types of loans do you offer?
Our lenders only offer short-term private money loans for up to 36 months for use on non-owner occupied residential and commercial properties in the entire USA and for general business use.
Are the loans revolving?
Yes. You can use the private money pay it off and then reuse it without paying additional points for up to 36 months.
Do your private lenders do NON-real estate loans or unsecured business loans?
Yes. Our private money lenders will lend to businesses for general business use.
How does the program work?
Our lenders typically do unsecured loans so you can cover 100% of the purchase and rehab costs up to 100% LTV or so you can use 100% of the funds to grow your general business venture.
How much money can I borrow?
Loans up to $200,000 per lender and up to $500,000 total.
How are these Private Money Loans different from typical Hard Money Loans?
Our Private Money Program
** No Collateral or Equity Required
** Full Instant Access to All the Funds
** 100% Finance All Your Deals
** Full Control of the Funds
** No Income Requirements
** 10 Points One-Time for UNLIMITED USE for up to 36 Months (Revolving)
vs. Typical Hard Money Program
** Real Estate Collateral WITH at least 35% Equity Typically Required
** RESTRICTED ACCESS to the Funds Typically Released at Discretion of Hard Money Lender
** LTV Restrictions on Deal Financing
** NO CONTROL over the Funds
** Project / Property ROI Requirements & Personal Income Requirements in Some Cases
** 5 Points One-Time for ONE-TIME USE for Just 6 Months Typically (Non-Revolving i.e., 1-and-done usage)
What documents do I need with my application?
Completed loan application & supporting documents, including, but not limited to:
(i) Private Money finance agreement
(ii) Loan applications
(iii) Personal Guarantee
How much does this cost?
There is no upfront application fee.
Do I have to personally guarantee the loans?
There are no equity requirements but of course you have to personally guarantee the loans.
Will the loans show up on my personal credit report?
No, the private money loans will not show up on your personal credit report.
What is the interest rate?
Varies. Typically between 10 – 16%. Some loans starting at 0% for a year.
Are the payments interest only?
Varies. Some loans are interest only and some will post a portion of the payment toward the principal.
What is the minimal monthly payment?
The minimal monthly payment is approx. 1% of the credit line balance per month which includes the lender’s servicing fee.
How do I pay back the loan?
You must have a sale or refinance exit strategy when applying. To pay off the loan you simply pay the loan balance in full.
Is there a pre-payment penalty?
How long are the loan programs?
Up to 36 months
Do you take my personal credit score into consideration?
Private Money loans require no equity but you need a 700 FICO score.
How secure is my information?
Our servers are SSL secured.
How long does it typically take for the funding process to be completed?
Our lenders fund within two weeks after approval.
Are you a direct lender?
No. We match your application with private money and hard money lenders we work with.
What are the fees associated with your service?
We typically get paid 10 points. Remember, loans are up to 36 months which is less than 3.5 points per annum.