Jump to content

Sign in to follow this  
direct

Approved for 36 month Term Loan Corp Only

Recommended Posts

Did either of you that applied need to state the purpose of the loan? Was the loan secured by equipment or did they just cut you a check? Were you offered longer terms (48 or 60 mos)? I may consider this if I could get a better interest rate and at least $20 - $25K.

Share this post


Link to post
Share on other sites

Did either of you that applied need to state the purpose of the loan? Was the loan secured by equipment or did they just cut you a check? Were you offered longer terms (48 or 60 mos)? I may consider this if I could get a better interest rate and at least $20 - $25K.

NO THAY DID NOT ASK FOR PURPOSE OF LOAN. THAY WILL FAX ME THE PAPER WORK MONDAY TO SIGN AND I WILL HAVE THE CHECK SOME TIME NEXT WEEK. IF YOU ASK FOR MORE THEN 15,000.00 YOU WILL NEED TO PG

Share this post


Link to post
Share on other sites
NO THAY DID NOT ASK FOR PURPOSE OF LOAN. THAY WILL FAX ME THE PAPER WORK MONDAY TO SIGN AND I WILL HAVE THE CHECK SOME TIME NEXT WEEK. IF YOU ASK FOR MORE THEN 15,000.00 YOU WILL NEED TO PG

 

 

 

CAPS LOCK is on the LEFT hand side of your keyboard. :lol:

Share this post


Link to post
Share on other sites
When I receive the paperwork, I will check to see if:

 

a) if ucc is required (I don't have an issue with this, if there is one required)

:lol: if there is a prepayment penalty (this could be an issue if we intend on prepaying early, but for the sake of establishing a loan relationship, I don't have a problem with this)

 

As far as thick file:

 

We have about 30 references on our D&B, 20 year history, 77 paydex (one of our suppliers has a reporting issue that we constantly have to call to correct) currently with $25k high credit reporting

On Experian, we have about 15 references, 98 score, 20 year history with $25k high credit reporting.

 

I only see one inquiry on Experian this month and I think it was for bill me later business, so either there is a delay in updating on Experian's part or they just checked D&B.

 

direct did you get youe'r loan?

I received the paperwork yesterday and spoke with the rep at Marlin.

 

Yes, they have a 4% prepayment penalty.

Yes, they will file a UCC if the loan is $25k or higher, but generally not for loans less than $25k.

 

So that answers those questions.

Share this post


Link to post
Share on other sites
When I receive the paperwork, I will check to see if:

 

a) if ucc is required (I don't have an issue with this, if there is one required)

:lol: if there is a prepayment penalty (this could be an issue if we intend on prepaying early, but for the sake of establishing a loan relationship, I don't have a problem with this)

 

As far as thick file:

 

We have about 30 references on our D&B, 20 year history, 77 paydex (one of our suppliers has a reporting issue that we constantly have to call to correct) currently with $25k high credit reporting

On Experian, we have about 15 references, 98 score, 20 year history with $25k high credit reporting.

 

I only see one inquiry on Experian this month and I think it was for bill me later business, so either there is a delay in updating on Experian's part or they just checked D&B.

 

direct did you get youe'r loan?

I received the paperwork yesterday and spoke with the rep at Marlin.

 

Yes, they have a 4% prepayment penalty.

Yes, they will file a UCC if the loan is $25k or higher, but generally not for loans less than $25k.

 

So that answers those questions.

 

direct did you get youe'r loan?

Share this post


Link to post
Share on other sites

Yes, when they called to go over the terms of my signed loan agreement, they said I would have the funds in my account within 3 days. Funds were in my account the next day. Nice.

Share this post


Link to post
Share on other sites

I called in today just to inquire about the products, etc. and the rep quickly directed me to the website for application, etc. She did say that it's $5K - $40K Small Business Loans @ a Fixed Rate based upon time in business and credit file. Their decision is in whole based on DNB (this is what she said) HOWEVER, she also stated that it was business and personal.

 

Not real sure what to make out of it. positive is the rates are pretty attractive (that others have gotten minus the prepayment penalty) they report within 30 days of loan finalization/disbursement (according to rep).

 

I would like to try it for Biz #2 to help the flow as well as the reporting, however that file is not extremely large about 9 TL's several highs of $2K - $5K reporting so not real sure on how to proceed as of yet. Really don't have any need for it on Biz #1 as it is strong and smooth right now but if I was in a position where we needed some capital, I'm sure it would get a nice line approval.

 

Anyone have any other thoughts on this and those that were approved did you provide online application of on the phone?

 

Thanks

 

Zic

Share this post


Link to post
Share on other sites

2 questions.

 

1. has anyone been denied after applying? if so, what was the reason?

2. for those that have applied, on the app. where it askes for the equipment, what did you list?

Share this post


Link to post
Share on other sites
I called in today just to inquire about the products, etc. and the rep quickly directed me to the website for application, etc. She did say that it's $5K - $40K Small Business Loans @ a Fixed Rate based upon time in business and credit file. Their decision is in whole based on DNB (this is what she said) HOWEVER, she also stated that it was business and personal.

 

Not real sure what to make out of it. positive is the rates are pretty attractive (that others have gotten minus the prepayment penalty) they report within 30 days of loan finalization/disbursement (according to rep).

 

I would like to try it for Biz #2 to help the flow as well as the reporting, however that file is not extremely large about 9 TL's several highs of $2K - $5K reporting so not real sure on how to proceed as of yet. Really don't have any need for it on Biz #1 as it is strong and smooth right now but if I was in a position where we needed some capital, I'm sure it would get a nice line approval.

 

Anyone have any other thoughts on this and those that were approved did you provide online application of on the phone?

 

Thanks

 

Zic

yes i did the online application.

did she tell you that you need to pg any thing over 15000.00? because i was told that i will have to pg if i go over 15000.00. i would said try it because i have only a high of 5000.00 on my d&b and 22 trades and paydex 79 & rating 1r2.

 

p.s. for cellphone it do's not ask for equipment maybe you have the wrong app. this is the link https://www.marlinleasing.com/marlinbusines...application.asp

Share this post


Link to post
Share on other sites
WTG Man :angry: ,

 

What are your business stats?

 

 

they ended up bumping my 10K to 15K. after the approval for 10 i asked for 15 and it was approved. No PG. Again.. this is for the loan - not the lease. it should be transfered to my account by monday.

 

in biz since 1999... 97 experian biz and 80 paydex - high trade line 25K.

 

oh ya - also.. i am a WOman - not a man :rofl:

Share this post


Link to post
Share on other sites
oh ya - also.. i am a WOman - not a man

Man was short for MANifesto not targeting your gender :grin:

 

It's nice to knw though <_<

Share this post


Link to post
Share on other sites
oh ya - also.. i am a WOman - not a man

Man was short for MANifesto not targeting your gender :)

 

It's nice to knw though :o

 

 

lmao - never even thought of that possibility... sorry about that. :)

Share this post


Link to post
Share on other sites
oh ya - also.. i am a WOman - not a man

Man was short for MANifesto not targeting your gender :)

 

It's nice to knw though :o

 

 

lmao - never even thought of that possibility... sorry about that. :)

 

no worries :)

Share this post


Link to post
Share on other sites

Hey Guys,

 

I applied on Friday past 12/07/07. Received call back that I was approved for 15k, got paperwork today, signed and faxed back. Paperwork said that I will be contacted by credit department. I have 7 reporting on dnb, high line of 5k, with a 77 paydex. I also have a 95 on Experian and 3 tradeslines reporting, with a high credit line of 2,600. I don't know what will happen now, because my file isn't as strong as most on this post (let alone this board). I guess I'll see what happens next soon. Been in business since 1997, just inc this year Aug 07. It could well be that file age made a difference here once again. Thank you all for the wealth of information.

 

 

BTW: Condition of Loan is: 15k at 11.75% for 36mths and a $150 Origination Fee.

 

 

Regards,

Rea.

Edited by Rea

Share this post


Link to post
Share on other sites
Hey Guys,

 

I applied on Friday past 12/07/07. Received call back that I was approved for 15k, got paperwork today, signed and faxed back. Paperwork said that I will be contacted by credit department. I have 7 reporting on dnb, high line of 5k, with a 77 paydex. I also have a 95 on Experian and 3 tradeslines reporting, with a high credit line of 2,600. I don't know what will happen now, because my file isn't as strong as most on this post (let alone this board). I guess I'll see what happens next soon. Been in business since 1997, just inc this year Aug 07. It could well be that file age made a difference here once again. Thank you all for the wealth of information.

 

 

BTW: Condition of Loan is: 15k at 11.75% for 36mths and a $150 Origination Fee.

 

 

Regards,

Rea.

 

Way to go! This is a big lift to you i'm sure....congrats you deserve it, i'm soooooo happy for you! :lol::)

Share this post


Link to post
Share on other sites

So I get a Fax from them asking saying they would like to begin to process my request. Says please sign authorization to obtain credit and fax back.

 

Anyone else get this?

Share this post


Link to post
Share on other sites

I applied last week called to follow up yesterday, rep said she follow up on the status. We'll I received an "authoriztion for personal credit reports" today by fax. Call the rep, and explain that since i was only requested $10K, why should i do a personal guarantee. So she said she will submit without a pg and see what happens, she explain that most businesses do not get approve unless they do a personal guarantee. I will keep the board posted with what happens.

Share this post


Link to post
Share on other sites

Lori,

 

That sure looks like a thin file to apply with. You only list 6 trades in your stats. Are they all reporting on D&B? If so, what is your high limit reporting? How many years have you been incorporated?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Today's Birthdays

    1. trent101
      trent101
      Age: 52
    2. Brog
      Brog
      Age: 57
    3. BrentN
      BrentN
      Age: 49
  • Member Statistics

    • Total Members
      177,985
    • Most Online
      2,046

    Newest Member
    myth5
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines