There are things we do well, and there are things we won’t do at all. Our loan documentation tells the story and comes with 3 schedules.
Always Collateral. We’re not a venture capital fund, nor a consumer lender – but, we partner with those who are. We can fund working capital (accounts receivable and inventory) and some start-up expenses. But, we are predominantly collateralized lenders.
All payments are due on the 1st of each month, and remittance is through debit drafting of each borrower’s business bank account. Simple, effective and electronic servicing results in lowest possible financing costs.
Character is not just an underwriting assessment, it’s an ongoing part of the relationship. So we spell it out, and it goes both ways.