 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
Stated income unsecured business line of credit
| MY Mortgage |
For more information,
please visit our Homepage.
Unanswered questions?
Email us or have us contact
you at your convenience.
For helpful publications and
links, please visit our
Resource Area.
MY Mortgage
160-03 N. Horace Harding
Expressway
Flushing, NY 11365
Tel:. 718-886-4438
Fax.: 718-445-9003
As a business operator, there will be times when you need to move fast to take advantage of
investment opportunities. With an unsecured business line of credit, you will have access to
funds whenever you need them.
Small business line of credit is great for businesses that need factoring, pay for seasonal
payments, or have operating cycles. Business lines of credit are ideal for short-term
financing needs, such as during slow cash flow periods, paying for inventory, equipment, or
materials, requiring seasonal working capital, and financing accounts receivable.
Unsecured commercial business line of credit is a revolving line of credit that allows the
business owner to borrow for short-term capital or cash-flow requirements. For example, one
can access a business line to help out during times of slow cash flow, then repay when cash
flow improves.
Our partner banks’ business lines of credit give your business access to cash, whenever
you need it, up to a $100,000. This is an unsecured Line of credit needing no collateral and
having no impact to your credit profile. The main advantage of a line of credit is flexibility.
Funds will be available when your business needs them. You only pay interests on the
amount you owe.
Our banks' unsecured business lines features:
investment opportunities. With an unsecured business line of credit, you will have access to
funds whenever you need them.
Small business line of credit is great for businesses that need factoring, pay for seasonal
payments, or have operating cycles. Business lines of credit are ideal for short-term
financing needs, such as during slow cash flow periods, paying for inventory, equipment, or
materials, requiring seasonal working capital, and financing accounts receivable.
Unsecured commercial business line of credit is a revolving line of credit that allows the
business owner to borrow for short-term capital or cash-flow requirements. For example, one
can access a business line to help out during times of slow cash flow, then repay when cash
flow improves.
Our partner banks’ business lines of credit give your business access to cash, whenever
you need it, up to a $100,000. This is an unsecured Line of credit needing no collateral and
having no impact to your credit profile. The main advantage of a line of credit is flexibility.
Funds will be available when your business needs them. You only pay interests on the
amount you owe.
Our banks' unsecured business lines features:
|
Qualifying requirements are:
Information required to complete application:
Business Owner Information
Business income/expenses (stated on application but not verified)
Business assets/collateral (not verified)
Business liabilities (not verified)
 | Owners of business have personal credit score of 700 or more. | |
| Business has been in operation at least 2 years. | |
| Business has a location of operation. |
Information required to complete application:
 | Business name | |
| Business address (no P.O. Box) | |
| Business phone number | |
| Business fax number | |
| Amount requested | |
| Purpose | |
| Tax Identification Number/SSN | |
| Date your business was established | |
| Current owner since | |
| Ownership type | |
| Number of owners | |
| Business banking bank name(s), account number(s) and balance(s) |
Business Owner Information
| Name and title of each owner/guarantor | |
| Home address | |
| Home phone number | |
| Social Security Number(s) | |
| Ownership percentage | |
| Citizenship | |
| Annual gross personal income (not verified) | |
| Monthly housing payments | |
| Personal banking bank name(s), account number(s) and balance(s) | |
| Personal net worth: value of assets, cars, homes, bank/retirement accounts, | |
| stocks, etc. (not verified) |
Business income/expenses (stated on application but not verified)
| Annual revenue/gross sales | |
| Net income | |
| Monthly debt payments | |
| Annual interest expense | |
| Annual depreciation expense |
Business assets/collateral (not verified)
| Cash | |
| Business savings and CD’s | |
| Accounts receivable | |
| Inventory | |
| Equipment owned | |
| Business vehicles owned | |
| Commercial real estate owned | |
| Securities and stocks owned |
Business liabilities (not verified)
| Current liabilities (sum of business debt including accounts payable due within | |
| 1 year) | ||
| Total debts (sum of all other debts not due within 1 year) | |