Stagedhomes is pleased to share we are partnered with a company that provides financial assistance for business launch, growth and expansion: KLJ LENDING
Here is how it works:
The platform provides you with Unsecured/Personal Cash Loans otherwise known as Signature Loans. They deposit cash directly into your personal bank account, typically within 5 to 7 business days after all of your documentation is received for processing!
These loans are primarily based on your personal income/cash flow & personal credit. Currently, they are accepting applicants who are W-2 Employees, Self-Employed, applicants with Disability Income, Annuity Income, or Retirement Income. All applicants must be under the age of 68 years old. This age restriction is in place to avoid elder financial abuse.
The Minimum Qualifications:
- Minimum Loan: $10k
- Maximum Loan: $400k
- *Minimum 650 Credit Score.
- *No More Than 6 Inquiries in The Last Six Months.
- *No New Lines of Credit or Revolving Accounts in The Last Six Months.
- *Minimum of 6 Months At The Same Job With 1 Year of Continuous Work History of W-2 Employment.
- *If self employed 2 years of provable income of $50,000 per year with an AGI of $27, 000 or more
- *Ideally, No More Than 60% of Your Total Available Credit Usage
- *Any Bankruptcies Must Have Been Discharged 2+ or More Years Ago
- *72 years of age or younger
Each loan has either a 3, 5, or 7-year amortization schedule (repayment term) with no prepayment penalty and no out-of-pocket expenses. Interest rates start as low as 5%. There are no application fees however, there is a one-time tax-deductible 15% Success Fee that is rolled into the loan amount (18% if applying for funding for our Mentorship Programs). They have different Mentorship Programs to meet the diverse needs of our applicants i.e., Done-For-U Fix & Flip & Done-For-You AirBnB Funding for Real Estate Investing ,Turo and more.
A Success Fee is common in our industry and allows them to pay for your underwriting services, loan broker fees, and their 3 full-time, on-staff attorneys who are negotiating each file to get you the best rate & terms for your personal profile. This service fee is paid only after the loan proceeds are deposited into your bank account. It is suggested that you apply for a loan amount that would net you the desired funding amount after your expenses. The Success Fee is tax-deductible and you will receive a 1099 from each lender.
By utilizing their proprietary software, they are able to obtain on average up to 80% more funding proceeds than applicants can get on their own, even from the same institutions! A funding source might be a bank or other personal loan company. They work with over 250 banks, financial institutions, and high net worth individuals, many of whom are our exclusive partners. They perform a process called Capital Stacking to achieve your funding goals. In other words, they work with a pool of multiple lenders on each client file.
How it works is each individual lender will fund up to a maximum of $100k, the Combined Funding Maximum is $400k. They may send a client through Multiple Rounds of funding to achieve the total funding amount that was requested. Example: They may utilize up to 4 different lenders in Round 1. Once you complete Round 1 of the funding process, if additional capital is needed, they can proceed to Round 2, then 3, and so on until the desired funding amount is achieved. This is not to say they will not achieve the desired amount in Round 1. Each client’s situation, credit score, income, debt, and circumstances are different.
There are no hard inquiries to credit accounts until after a client has signed off on all the loans they have been approved for.
If you are interested in learning more and seeing if you qualify for this unsecured loan, please complete this FORM. Your information is kept confidential, and we will only use it for the purposes of loan eligibility and processing.