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Tier 1 Consolidation

The Tier 1 Advance model is very unique in the sense that it’s a bit of a combination between a factor and a term loan. The Tier 1 Advance features monthly payments and is commonly used for the purpose of consolidation of existing cash advance debt (monthly discount rate increased to 1.975% when consolidating). One of the most appealing aspects of this funding model are the early payoff benefits. At any point after six months, clients may pay the remaining principle owed without any penalties or fees.

Standard Submission Requirements:

  • Crowne & Company application
  • Three, most recent business bank statements: (Please be sure to include all pages.)
  • Most Recent Corporate Tax Return

Additional Submission Requirements:

Brief Executive Summary (a few paragraphs is fine) describing the company, principles and reason for the funding request. Six most recent business bank statements. 2015 and 2016 year-to-date (YTD) Balance Sheet. 2015 and 2016 year-to-date (YTD) Profit & Loss Statements. Debt Schedule (if applicable): Should include all total outstanding balance(s), listed individually. Legible copy of driver’s license and voided check(s) for all active business bank accounts.

  • Product Details

    Max Funding Amount:

    $2 million

    Payment Frequency:

    Monthly

    Classification:

    Cash Advance

    Prepayment Benefits:

    Yes

    Origination Fee:

    2%

    Funding Time:

    2-3 Weeks

  • Minimum Qualifications

    FICO® Score:

    500

    Monthly Revenue:

    $50,000

    Time in Business:

    24 Months

  • Monthly base payment per $20,000. *

    12-Month Term:

    $2,062

    18-Month Term:

    N/A

  • Monthly base payment per $100,000. *

    12-Month Term:

    $10,308

    18-Month Term:

    N/A

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© 2017 Crowne & Company LLC.

Business Loans provided by third parties and subject to lender approval.