How does the program work? http://crownlenders.net/ CCMBL provides short-term small commercial loans for a period of 6 to 12 months. Release of loans is based mainly on the business income and not the owner's individual credit rating. All that is required to begin the process is a 1-page application and the most recent 12-month business-bank statements. CCMBL will not require any tax returns, financial statements, business plans, credit card receipts, or itemized rundown of assets.
What are your interest rates and how are they derived? Each applicant's cash flow, payment history and financial strengths are examined to determine a risk-compatible amortization scheme suited to that applicant. Payments are computed based on factors such as the amount and regularity of the business's cash flow, the length in years the company has operated, the assets possessed by the business, and the targeted usage of funds.
What factors are considered for approval of the loan application? The age of the business, its revenue track record, assets, and business-credit record, among others, all determine a broad profile of the applicant.
Why does CCMBL practice daily repayments? CCMBL loans are payable through tiny, daily automatic payments (with the exception of weekends and holidays) from the borrower's enterprise's checking-account. Because our borrowers usually earn daily income, CCMBL's daily repayment procedure allows them to control their cash more readily than if they did it on a monthly payment scheme.
Will a client's personal finances be checked? As far as personal finances are concerned, CCMBL usually only checks the business owner's personal credit record but not their credit score.