5 Things You Should Know About Asset-Based Lending From Us
- We are NOT a bank.
Many asset-based lenders are banks are only “banks in disguise” that require specific documents, a certain credit score, tax returns and proof of income, and often a minimum down payment.
- We do NOT require personal guarantees.
Our only security is the collateral pledged to secure the loan.
- We are a true “No Doc” lender,
meaning we do not require tax returns, proof of income, employment or deposit verification. Other than an appraisal (if needed) to validate the collateral, or proof of a discharged bankruptcy, which is OK with us, our process is amazingly simple.
- We do NOT lend on owner-occupied properties.
We do not offer first mortgages or home equity lines of credit to homeowners.
- We physically hold or hold title
to all pledged collateral until the loan is repaid, then the collateral is released. All of our loan closings are performed by attorneys regardless of the amount.