Credit Guidelines Overview
2009-05-25
: Microscan Creditguidelinesoverview CreditGuidelinesOverview FinanceandLeasing PartnerProgram PartnerSite
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Credit Guidelines PERSONAL GUARANTY GUIDELINES* $5,000 - $50,000 $50,001 - $75,000 $75,001 - $100,000 $100,001 - $150,000 2 3 5 7 Minimum FICO 630+ 640+ 660+ 680+ Maximum MDS 700 700 675 650 Comparable Debt Credit Discretion Credit Discretion Required Required Site Inspection Credit Discretion Required at $35,000 Required Required Time in Business CORP ONLY GUIDELINES* $2,000 - $25,000 $25,001- $50,000 $50,001 - $100,000 $100,001 - $150,000 >=5 >=6 >=7 >=8 > = 1 R3 > = 1 R2 > = BA1 > = 1A1 > = 64 > = 64 > = 64 > = 64 Credit Discretion Credit Discretion Required Required 10 25 40 50 Not Required Credit Discretion Credit Discretion Credit Discretion Credit Discretion Required $35K Required Required Time in Business D&B Rating Paydex Comparable Debt Employee Size Tax Returns Site Inspection Restricted Industries Special Industries Adult Entertainment Requires five (5) years time in business under current ownership Casino/Gambling Agriculture (crops) Commodity/Security Brokers Transportation Business Forestry Trucking Livestock Restaurants/Bars Logging Internet Service Providers Long Haul Trucking Non Profit Entities Mining Requires ten (10) years time in business under current ownership Oil/Gas Extraction Mortgage Banker, Broker Real Estate Agencies Construction Contractors *All transactions must also meet Balboa Capital’s internal scoring guidelines. Balboa Capital • 2010 Main Street • 11th Floor • Irvine, CA 92614 • www.balboacapital.com Credit Guidelines PROFESSIONAL PROGRAM Balboa Capital will consider start up requests up to $35,000 for certain professionals under the following guidelines: - Verification the professional has been licensed three (3) years or three (3) years of industry experience Verified business checking account Two years of personal tax returns and current personal financial statement for each owner The professionals included in this program are attorneys, CPAs, degreed engineers and architects Due to the higher risk associated with a start up, 300 basis points must be added to the approved rate ACH and a blanket UCC filing is mandatory Require 2 payments to 20% upfront (analyst’s discretion) EXPANSION REQUESTS - New location must be for the same business type and product type $35,000 is maximum consideration without a complete financial package Personal Guaranties are required Current location needs to be operating under the current ownership for at least five (5) years Restaurants are restricted, will consider higher end franchises on a case by case situation Retail, cautionary and restricted industries are restricted from expansions Total financing needs need to be disclosed upfront
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