Our exclusive Business Line of Credit

I am new to the site but thought I'd share a very exciting product that we have launched here at World Business Lenders. Introducing our Business Line of Credit (BLOC Program) This product is really geared towards the business owner who has a need for short term financing and doesn't want to pay outrageous interest rates over a 30-90 day time frame. Please see all the details below and feel free to contact me with any questions regarding this.



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B.L.O.C

(Business Line Of Credit)

Over the past week we have launched a very exciting program here at World Business Lenders. Our B.L.O.C program is unlike anything offered in the alternative lending market. The new product is a business line of credit secured by real estate with a BPO for valuation purposes. I have outlined the basic guidelines below but please keep an open mind and understand that we will entertain every situation and circumstance.

• Minimum B.L.O.C size- 50k

• Minimum Property Value- 100k

• Minimum Advance (After 1st month)- 10k

• Money Factor per month (Credit Risk Adjusted Rate) 5%-10%

• Discount applied (BPO Value - 5k) * 50%

(Example: A $1,000,000 property owned Free&Clear is eligible for a $495k B.L.O.C)

Collateral Types

• Residential (1st, 2nd, 3rd, 4th position on Single family, multi-family, condo, co-op)

• Vacant land providing it’s not rural and WBL holds a 1st position lien.

• Commercial property ( 1st, 2nd, 3rd, 4th on retail, office, owner-occupied restaurants)

Some important aspects of this product are as follows:

• INTEREST ONLY payments Monday-Friday, No Weekends, No Holidays)

• No Minimum Credit Score

• Client must draw the full principal in the first 30 days.

• After the first 30 days, the client will have access to this line of credit over the next 23 months with no additional underwriting required. Client can pay off this line of credit under NO PREPAYMENT PENALTY.

• We can combine properties to reach a larger line of credit.

• Client can use the same property as collateral if already encumbered under WBL’s traditional loan. (Please keep in mind 50% CLTV on B.L.O.C and 65% CLTV on traditional)

• Client is responsible for all title and BPO fees (Rolled into the B.L.O.C)

• We can have funds disbursed within 7 business days on original B.L.O.C and within 24 hours on the advance after 30 days.