Small & Large Business Financing
HomeStart also offers a host of financing solutions for business in the early stages of development. The cost to hold a place in line for business financing is $2,000. This is a non-refundable charge but if the business credit is approved and accepted by the client, this initial charge is credited to the client’s invoice.
HomeStart’s Business Financing products include:
Short-term Loans – Using the last four business bank statements, from $10,000 to $100,000 with daily or weekly payments at good rates for all credit scores.
Long-term Loans – With the last four business bank statements, get from $50,000 to $500,000 with payback for up to five years for all credit scores.
Lines of Credit – With the last three business bank statements, two years of income tax return and a few other documents, revolving lines of credit from $20,000 up to $5 million with monthly payment and the ability to use the credit line any time.
Start-up & Expansion Financing – Equity capital for start-ups and established business and debt financing for both with payback terms up to 10 years!
Other Financing – Accounts Receivable advances and more!
Not all businesses are the same. Thus, not all debt financing is the same and pricing is different for every business situation as the difficulty of procurement and the terms of financing differ greatly based on a client’s financial situation. Additionally, short term debt financing is often sought when businesses are either having difficulty or when business expenses are outpacing business revenues. However, HomeStart has offered a standard pricing structure of 3.5% of the funds procured for Short-term Debt Financing to simplify this for clients, based on the conditions and structures listed below. The price for business loans that are procured by HomeStart is based on the amount for which the client is approved and payment for approval/procurement is due according to the Consulting Fee & Indemnification Agreement the client must sign, which can be previewed here. Additionally:
For all financing, “funded” means procured. Procured means approved and in the case of a Letter of Intent, preapproved.
The issuance of a Letter of Intent for a Line of Credit or other financing constitutes procurement of the financing.
All financing is priced based on the gross amount offered and not the net amount funded as fees can be withheld from wires by the lenders and by outgoing and receiving banks.
All financing is priced based on procurement amount and not on when or how much of the line the client uses, nor the net line available to client after one-time lender fees are deducted. Thus, the cost of a $100,000 Line of Credit with $97,000 net credit available is $3,500.00 and payment is due as soon as the line is procured and not when the client gains access to it (based on completing standard payment, reconciliation, due diligence or contractual conditions). Thus, when the client takes draws, how much of the line the client uses or whether or not the client needs the Line of Credit in the future are all immaterial to the cost of procurement of the Line of Credit. HomeStart almost always succeeds at procuring Lines of Credit for those clients that want them, so payment for services rendered is immediate provided a Letter of Intent is secured for the client.
Hybrid debt financing solutions such as the combination of Short-term Debt Financing and a Line of Credit are priced according to the conditions and explanations above, meaning the cost for hybrid debt financing solution is all due when the financing is procured and not when the client accesses the Line of Credit, what portion the client accesses, when access is granted or whether or not they need the entire line (or any portion) for which the client applied.
Based upon HomeStart’s sole discretion, if hybrid financing is approved and part of the overall financing is staggered or delayed, if the immediately funded gross financing is less than 20% of the staggered or delayed portion, the client shall pay 16% on the amount of the immediately available financing as soon as the net amount is wired to the client and 2% of the staggered or delayed financing when the client gains access to the staggered or delayed portion of the overall financing. This situation can occur if an investor wishes to “test the waters” and makes access to some (pre)approved financing conditional based on client performance or other contractual conditions or obligations. This allows clients with more difficult financing a way to both secure the financing they need without the cost of financing eating up too much of the immediately available financing procured.
All product pricing, terms & conditions governed by HomeStart Consultation Fee & Indemnification Agreement and/or HomeStart Credit Development Agreement and/or HomeStart Rapid Rescore Agreement.